Results of operations on a quarterly basis |
Results of operations on a quarterly basis were as follows: | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2013 | | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | | | (Dollars in thousands, except per share amounts) | Interest income | | $ | 17,484 |
| | $ | 16,859 |
| | $ | 18,533 |
| | $ | 18,552 |
| Interest expense | | 946 |
| | 919 |
| | 952 |
| | 907 |
| Net interest income | | 16,538 |
| | 15,940 |
| | 17,581 |
| | 17,645 |
| Provision for loan losses | | 858 |
| | 1,308 |
| | 1,078 |
| | 428 |
| Net interest income after provision for loan losses | | 15,680 |
| | 14,632 |
| | 16,503 |
| | 17,217 |
| Noninterest income | | 2,282 |
| | 2,357 |
| | 2,582 |
| | 2,430 |
| Noninterest expense | | 13,719 |
| | 13,007 |
| | 14,285 |
| | 18,504 |
| Income before provision for income taxes | | 4,243 |
| | 3,982 |
| | 4,800 |
| | 1,143 |
| Income tax expense | | 1,358 |
| | 1,292 |
| | 1,510 |
| | 433 |
| Net income | | $ | 2,885 |
| | $ | 2,690 |
| | $ | 3,290 |
| | $ | 710 |
| Basic earnings per common share | | $ | 0.19 |
| | $ | 0.18 |
| | $ | 0.20 |
| | $ | 0.04 |
| Diluted earnings per common share | | 0.19 |
| | 0.18 |
| | 0.20 |
| | 0.04 |
| Cash dividends declared on common stock | | $ | 0.08 |
| | $ | 0.08 |
| | $ | 0.18 |
| | $ | 0.08 |
| | | | Year Ended December 31, 2012 | | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | | | (Dollars in thousands, except per share amounts) | Interest income | | $ | 17,989 |
| | $ | 17,389 |
| | $ | 17,031 |
| | $ | 16,700 |
| Interest expense | | 1,295 |
| | 1,179 |
| | 1,076 |
| | 984 |
| Net interest income | | 16,694 |
| | 16,210 |
| | 15,955 |
| | 15,716 |
| Provision for loan losses | | (109 | ) | | 619 |
| | 807 |
| | 699 |
| Net interest income after provision for loan losses | | 16,803 |
| | 15,591 |
| | 15,148 |
| | 15,017 |
| Noninterest income | | 1,908 |
| | 2,064 |
| | 1,527 |
| | 1,773 |
| Noninterest expense | | 12,598 |
| | 12,870 |
| | 12,503 |
| | 12,421 |
| Income before provision for income taxes | | 6,113 |
| | 4,785 |
| | 4,172 |
| | 4,369 |
| Income tax expense | | 1,943 |
| | 1,591 |
| | 1,309 |
| | 1,335 |
| Net income | | $ | 4,170 |
| | $ | 3,194 |
| | $ | 2,863 |
| | $ | 3,034 |
| Basic earnings per common share | | $ | 0.27 |
| | $ | 0.21 |
| | $ | 0.19 |
| | $ | 0.20 |
| Diluted earnings per common share | | 0.27 |
| | 0.21 |
| | 0.19 |
| | 0.20 |
| Cash dividends declared on common stock | | $ | 0.06 |
| | $ | 0.28 |
| | $ | 0.08 |
| | $ | 0.38 |
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