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Selected Quarterly Financial Data (unaudited) (Notes)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data (unaudited)
 
For the year ended December 31, 2017
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Interest income
$
13,362

 
$
13,649

 
$
14,121

 
$
15,047

Interest expense
1,276

 
1,456

 
1,615

 
1,742

Net interest income
12,086

 
12,193

 
12,506

 
13,305

Provision for (recovery of) loan losses
161

 
49

 
(225
)
 
(72
)
Net interest income
11,925

 
12,144

 
12,731

 
13,377

Noninterest income
1,544

 
1,607

 
1,623

 
1,634

Noninterest expense
11,266

 
9,607

 
10,200

 
9,318

Income before income taxes
2,203

 
4,144

 
4,154

 
5,693

Income tax expense
322

 
1,572

 
594

 
4,702

Net income
$
1,881

 
$
2,572

 
$
3,560

 
$
991

Basic earnings per common share
$
0.10

 
$
0.14

 
$
0.20

 
$
0.06

Diluted earnings per common share
0.10

 
0.14

 
0.20

 
0.06


The Company recorded net income of $1.0 million, or $0.06 per common share, for the fourth quarter of 2017. The Company’s net interest income before provision for loan losses was $13.3 million due to stronger loan originations and improved asset quality, which was offset by increased interest bearing liabilities at higher cost of funds. The Company’s fourth quarter 2017 operating results included a $2.5 million provision for taxes related to Tax Cuts and Jobs Act of 2017.
 
For the year ended December 31, 2016
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Interest income
$
12,759

 
$
12,581

 
$
12,845

 
$
12,743

Interest expense
856

 
952

 
1,014

 
1,148

Net interest income
11,903

 
11,629

 
11,831

 
11,595

Provision for (recovery of) loan losses
(490
)
 
1,315

 
(525
)
 
(539
)
Net interest income
12,393

 
10,314

 
12,356

 
12,134

Noninterest income
1,594

 
1,537

 
1,637

 
1,777

Noninterest expense
10,930

 
10,506

 
9,912

 
10,194

Income before income taxes
3,057

 
1,345

 
4,081

 
3,717

Income tax expense
1,153

 
514

 
1,573

 
1,458

Net income
$
1,904

 
$
831

 
$
2,508

 
$
2,259

Basic earnings per common share
$
0.10

 
$
0.04

 
$
0.13

 
$
0.12

Diluted earnings per common share
0.10

 
0.04

 
0.13

 
0.12


The Company recorded net income of $2.3 million, or $0.12 per common share, for the fourth quarter of 2016. The Company’s net interest income before provision for loan losses was $11.6 million due to stronger loan originations and improved asset quality. The Company’s fourth quarter 2016 operating results included a $539,000 recovery of loan losses. Noninterest expense included gains on OREO sales of $113,000 and $177,000 of nonperforming asset management and OREO expense.