Selected Quarterly Financial Data (Unaudited) |
Selected Quarterly Financial Data (Unaudited) Results of operations on a quarterly basis were as follows: | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2015 | | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | | | (Dollars in thousands, except per share amounts) | Interest income | | $ | 34,249 |
| | $ | 33,990 |
| | $ | 33,484 |
| | $ | 34,016 |
| Interest expense | | 1,575 |
| | 1,520 |
| | 1,544 |
| | 1,481 |
| Net interest income | | 32,674 |
| | 32,470 |
| | 31,940 |
| | 32,535 |
| Provision for loan losses | | 1,208 |
| | 1,189 |
| | 851 |
| | 1,124 |
| Net interest income after provision for loan losses | | 31,466 |
| | 31,281 |
| | 31,089 |
|
| 31,411 |
| Noninterest income | | 8,345 |
| | 6,881 |
| | 9,544 |
| | 7,498 |
| Noninterest expense | | 26,038 |
| | 26,079 |
| | 27,322 |
| | 26,769 |
| Income before provision for income taxes | | 13,773 |
| | 12,083 |
| | 13,311 |
|
| 12,140 |
| Income tax expense | | 3,994 |
| | 3,358 |
| | 3,819 |
| | 2,647 |
| Net income | | $ | 9,779 |
| | $ | 8,725 |
| | $ | 9,492 |
|
| $ | 9,493 |
| Basic earnings per common share | | $ | 0.32 |
| | $ | 0.29 |
| | $ | 0.32 |
| | $ | 0.32 |
| Diluted earnings per common share | | 0.32 |
| | 0.29 |
| | 0.32 |
| | 0.32 |
| Cash dividends declared on common stock | | 0.10 |
| | 0.11 |
| | 0.11 |
| | 0.21 |
| | | | Year Ended December 31, 2014 | | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | | | (Dollars in thousands, except per share amounts) | Interest income | | $ | 17,613 |
| | $ | 30,023 |
| | $ | 35,031 |
| | $ | 38,439 |
| Interest expense | | 872 |
| | 1,426 |
| | 1,724 |
| | 1,659 |
| Net interest income | | 16,741 |
| | 28,597 |
| | 33,307 |
| | 36,780 |
| Provision for loan losses | | 458 |
| | 691 |
| | 594 |
| | 2,851 |
| Net interest income after provision for loan losses | | 16,283 |
| | 27,906 |
| | 32,713 |
| | 33,929 |
| Noninterest income | | 2,307 |
| | 4,780 |
| | 5,483 |
| | 3,897 |
| Noninterest expense | | 14,779 |
| | 26,994 |
| | 28,363 |
| | 29,243 |
| Income before provision for income taxes | | 3,811 |
| | 5,692 |
| | 9,833 |
| | 8,583 |
| Income tax expense | | 1,268 |
| | 1,544 |
| | 2,765 |
| | 1,328 |
| Net income | | $ | 2,543 |
| | $ | 4,148 |
| | $ | 7,068 |
| | $ | 7,255 |
| Basic earnings per common share | | $ | 0.16 |
| | $ | 0.16 |
| | $ | 0.23 |
| | $ | 0.24 |
| Diluted earnings per common share | | 0.16 |
| | 0.16 |
| | 0.23 |
| | 0.24 |
| Cash dividends declared on common stock | | 0.16 |
| | — |
| | 0.09 |
| | 0.25 |
|
|