QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

The following table sets forth certain quarterly results for the years ended December 31, 2017 and 2016 (dollars in thousands, except per share data):



	Three Months Ended
	March 31		June 30	Sep. 30		Dec. 31
2017
Interest income	$	10,864	10,934	11,055		11,610
Interest expense	877		861	908		953
Net interest income	9,987		10,073	10,147		10,657
Provision for loan losses	15		222	(12	)	(10	)
Net interest income after provision	9,972		9,851	10,159		10,667
Total non-interest income	2,430		2,790	2,659		2,579
Total non-interest expenses	7,968		8,611	8,672		8,612
Income before income taxes	4,434		4,030	4,146		4,634
Provision for income taxes	1,188		1,027	1,040		1,017
Net income	$	3,246	3,003	3,106		3,617

Earnings per common share:
Basic	$	0.32	0.30	0.31		0.37
Diluted	0.32		0.30	0.31		0.36


2016
Interest income	$	10,621	11,008	10,895		11,226
Interest expense	849		883	885		887
Net interest income	9,772		10,125	10,010		10,339
Provision for loan losses	90		396	372		55
Net interest income after provision	9,682		9,729	9,638		10,284
Total non-interest income	2,642		2,750	2,846		2,615
Total non-interest expenses	8,292		8,468	8,593		7,908
Income before income taxes	4,032		4,011	3,891		4,991
Provision for income taxes	1,068		1,043	995		1,337
Net income	$	2,964	2,968	2,896		3,654

Earnings per common share:
Basic	$	0.30	0.30	0.29		0.37
Diluted	0.30		0.29	0.29		0.37