Earnings/(Loss) Per Common Share
 3 Months Ended
Mar. 31, 2013
Earnings/(Loss) Per Common Share [Abstract]  
Earnings/(Loss) Per Common Share

Note 2 – Earnings/(Loss) Per Common Share

 

            Basic earnings/(loss) per common share is derived by dividing net income available to/loss attributable to common shareholders by the weighted-average number of common shares outstanding during the period and does not include the effect of any potentially dilutive common stock equivalents.  Diluted earnings/(loss) per share is derived by dividing net income available to/loss attributable to common shareholders by the weighted-average number of shares outstanding, adjusted for the dilutive effect of outstanding common stock equivalents.  There is no dilutive effect on earnings per share during loss periods.  There were no common stock equivalents during the three-months ended March 31, 2013 and 2012. 

 

            The following table sets forth the calculation of basic and diluted earnings/(loss) per common share for the three-month periods ended March 31, 2013 and 2012:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended March 31,

 

2013

2012

 

 

Average

Per Share

 

Average

Per Share

(in thousands, except for per share amount)

Income

Shares

Amount

Loss

Shares

Amount

Basic and Diluted Earnings/(Loss) Per Share:

 

 

 

 

 

 

 

 

 

 

Net income/(loss)

$
1,922 

 

 

 

$
(2,665)

 

 

 

Preferred stock dividends deferred

 
(420)

 

 

 

 
(399)

 

 

 

Discount accretion on preferred stock

 
(17)

 

 

 

 
(16)

 

 

 

Net income available to/Net (loss) attributable to common shareholders

$
1,485 
6,199 

$
0.24 

$
(3,080)
6,183 

$
(0.50)