Quarterly Condensed Financial Information |
QUARTERLY CONDENSED FINANCIAL INFORMATION (Unaudited)
The following table presents unaudited quarterly financial information for the periods indicated:
| | | | | | | | | | | | | | | | | | 2019 | ($ in thousands, except per share data) | 4th Quarter | | 3rd Quarter | | 2nd Quarter | | 1st Quarter | Interest income | $ | 77,238 |
| | $ | 81,078 |
| | $ | 79,201 |
| | $ | 67,617 |
| Interest expense | 15,625 |
| | 18,032 |
| | 17,486 |
| | 15,274 |
| Net interest income | 61,613 |
| | 63,046 |
|
| 61,715 |
|
| 52,343 |
| Provision for portfolio loan losses | 1,341 |
| | 1,833 |
| | 1,722 |
| | 1,476 |
| Net interest income after provision for loan losses | 60,272 |
| | 61,213 |
|
| 59,993 |
|
| 50,867 |
| Noninterest income | 14,418 |
| | 13,564 |
| | 11,964 |
| | 9,230 |
| Noninterest expense | 38,354 |
| | 38,239 |
| | 49,054 |
| | 39,838 |
| Income before income tax expense | 36,336 |
| | 36,538 |
|
| 22,903 |
|
| 20,259 |
| Income tax expense | 7,246 |
| | 7,469 |
| | 4,479 |
| | 4,103 |
| Net income | $ | 29,090 |
| | $ | 29,069 |
|
| $ | 18,424 |
|
| $ | 16,156 |
| | | | | | | | | Earnings per common share: | | | | | | | | Basic | $ | 1.10 |
| | $ | 1.09 |
| | $ | 0.69 |
| | $ | 0.68 |
| Diluted | 1.09 |
| | 1.08 |
| | 0.68 |
| | 0.67 |
| | | | | | | | | | 2018 | ($ in thousands, except per share data) | 4th Quarter | | 3rd Quarter | | 2nd Quarter | | 1st Quarter | Interest income | $ | 64,002 |
| | $ | 60,757 |
| | $ | 57,879 |
| | $ | 55,164 |
| Interest expense | 13,409 |
| | 12,664 |
| | 10,831 |
| | 8,993 |
| Net interest income | 50,593 |
| | 48,093 |
|
| 47,048 |
|
| 46,171 |
| Provision for portfolio loan losses | 2,120 |
| | 2,263 |
| | 390 |
| | 1,871 |
| Net interest income after provision for loan losses | 48,473 |
| | 45,830 |
|
| 46,658 |
|
| 44,300 |
| Noninterest income | 10,702 |
| | 8,410 |
| | 9,693 |
| | 9,542 |
| Noninterest expense | 30,747 |
| | 29,922 |
| | 29,219 |
| | 29,143 |
| Income before income tax expense | 28,428 |
| | 24,318 |
| | 27,132 |
| | 24,699 |
| Income tax expense | 4,899 |
| | 1,802 |
| | 4,881 |
| | 3,778 |
| Net income | $ | 23,529 |
| | $ | 22,516 |
|
| $ | 22,251 |
|
| $ | 20,921 |
| | | | | | | | | Earnings per common share: | | | | | | | | Basic | $ | 1.02 |
| | $ | 0.97 |
| | $ | 0.96 |
| | $ | 0.91 |
| Diluted | 1.02 |
| | 0.97 |
| | 0.95 |
| | 0.90 |
|
|