| Loss per Share of Common Stock |
Earnings per Share of Common Stock
The following tables set forth the computation of basic and diluted earnings per share of common stock for the three months ended March 31, 2018 and 2017. We computed basic earnings per share for the three months ended March 31, 2018 and 2017 using the weighted average number of shares outstanding during the periods. Diluted earnings per share for the three months ended March 31, 2018 and 2017, reflects additional shares of common stock, related to our convertible senior common stock (the "Senior Common Stock"), if the effect would be dilutive, that would have been outstanding if dilutive potential shares of common stock had been issued, as well as an adjustment to net income available to common stockholders as applicable to common stockholders that would result from their assumed issuance (dollars in thousands, except per share amounts).
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For the three months ended March 31, |
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2018 |
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2017 |
Calculation of basic earnings per share of common stock: |
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Net income available to common stockholders |
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$ |
1,791 |
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$ |
1,735 |
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Denominator for basic weighted average shares of common stock |
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28,420,995 |
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24,963,926 |
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Basic earnings per share of common stock |
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$ |
0.06 |
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$ |
0.07 |
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Calculation of diluted earnings per share of common stock: |
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Net income available to common stockholders |
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$ |
1,791 |
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$ |
1,735 |
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Add: income impact of assumed conversion of senior common stock (1) |
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— |
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— |
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Net income available to common stockholders plus assumed conversions (1) |
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$ |
1,791 |
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$ |
1,735 |
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Denominator for basic weighted average shares of common stock |
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28,420,995 |
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24,963,926 |
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Effect of convertible Senior Common Stock (1) |
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— |
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— |
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Denominator for diluted weighted average shares of common stock (1) |
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28,420,995 |
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24,963,926 |
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Diluted earnings per share of common stock |
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$ |
0.06 |
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$ |
0.07 |
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(1) |
We excluded shares of Senior Common Stock that are convertible into shares of our common stock in the amount of 745,000 and 798,388 from the calculation of diluted earnings per share for the three months ended March 31, 2018 and 2017, respectively, because it was anti-dilutive.
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