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EARNINGS (LOSS) PER SHARE
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
7.
EARNINGS (LOSS) PER SHARE
 
The reconciliation of the numerators and denominators of the basic and diluted EPS is as follows:
 
 
 
Three Months Ended
 
Six Months Ended
 
(Amounts in thousands,
 
June 30,
 
June 30,
 
except per share data)
 
2014
 
2013
 
2014
 
2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income/(loss)
 
$
(1,969)
 
$
(1,126)
 
$
(2,070)
 
$
(1,004)
 
Less:
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred stock dividends
 
 
(427)
 
 
(250)
 
 
(877)
 
 
(500)
 
Accretion on preferred stock discount
 
 
-
 
 
(13)
 
 
(3)
 
 
(27)
 
Net income (loss) available to common shareholders
 
$
(2,396)
 
$
(1,389)
 
$
(2,950)
 
$
(1,531)
 
Weighted average common shares
 
 
4,974
 
 
4,806
 
 
4,932
 
 
4,797
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted:
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares
 
 
4,974
 
 
4,806
 
 
4,932
 
 
4,797
 
Dilutive effect of stock options,warrants and restricted share awards
 
 
-
 
 
-
 
 
-
 
 
-
 
Weighted average common and incremental shares
 
 
4,974
 
 
4,806
 
 
4,932
 
 
4,797
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings (Loss) Per Common Share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
$
(0.48)
 
$
(0.29)
 
$
(0.60)
 
$
(0.32)
 
Diluted
 
$
(0.48)
 
$
(0.29)
 
$
(0.60)
 
$
(0.32)
 
 
Since the Corporation is reporting a net loss available to common shareholders for all periods presented, no stock options, warrants or restricted share awards were evaluated for dilutive purposes.