QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

The following table sets forth certain quarterly results for the years ended December 31, 2015 and 2014 (dollars in thousands, except per share data):

	Three Months Ended
	March 31		June 30	Sep. 30	Dec. 31
2015
Interest income	$	10,090	11,348	10,409	10,812
Interest expense	762		748	912	906
Net interest income	9,328		10,600	9,497	9,906
Provision for loan losses	69		677	240	380
Net interest income after provision	9,259		9,923	9,257	9,526
Total non-interest income	2,306		2,831	2,386	2,600
Total non-interest expenses	7,649		8,426	8,088	8,229
Income before income taxes	3,916		4,328	3,555	3,897
Provision for income taxes	1,082		1,205	922	1,013
Net income	$	2,834	3,123	2,633	2,884
Earnings per common share:
Basic	$	0.30	0.33	0.26	0.29
Diluted	0.30		0.32	0.26	0.29
2014
Interest income	$	9,278	9,926	9,906	10,367
Interest expense	915		920	911	844
Net interest income	8,363		9,006	8,995	9,523
Provision for loan losses	81		255	401	193
Net interest income after provision	8,282		8,751	8,594	9,330
Total non-interest income	2,077		2,301	2,315	2,449
Total non-interest expenses	8,672		7,600	7,238	7,334
Income before income taxes	1,687		3,452	3,671	4,445
Provision for income taxes	364		841	953	1,228
Net income	$	1,323	2,611	2,718	3,217
Earnings per common share:
Basic	$	0.14	0.28	0.30	0.34
Diluted	0.14		0.28	0.29	0.34