Earnings Per Common Share

3 Months Ended

Mar. 31, 2016

Earnings Per Common Share [Abstract]

EARNINGS PER COMMON SHARE

10. EARNINGS PER COMMON SHARE

(Share amounts in thousands)

The following table sets forth the computation of basic and diluted (loss) earnings per common share for the periods indicated:

		Three Months Ended
		March 31,
		2016		2015
Numerator for basic and diluted earnings per common share -
(Loss) income available to common stockholders:
Net (loss) income	$	(2,832)	$	4,285
Denominator:
Weighted average shares outstanding		10,232		10,259
Denominator for basic earnings per common share		10,232		10,259
Effect of dilutive securities:
Employee stock options		-		2
Other stock compensation plans		-		98
Dilutive potential common shares		-		100
Denominator for diluted earnings per common share - adjusted weighted average shares outstanding and assumed conversions		10,232		10,359
Basic (loss) earnings per common share	$	(0.28)	$	0.42
Diluted (loss) earnings per common share	$	(0.28)	$	0.41
Dividends paid per common share	$	0.04	$	0.04

During the three-month period ended March 31, 2016, there were approximately 47 anti-dilutive shares excluded from the above calculation.