UNAUDITED QUARTERLY FINANCIAL DATA

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

UNAUDITED QUARTERLY FINANCIAL DATA

NOTE 19 — UNAUDITED QUARTERLY FINANCIAL DATA

Selected Consolidated Quarterly Financial Data (dollars, except per share amounts, in thousands)

	2017 Quarter Ended
	December 31			September 30			June 30			March 31
Interest income		$	17,864		$	16,401		$	14,047		$	12,441
Interest expense			2,293			2,437			2,281			1,660
Net interest income			15,571			13,964			11,766			10,781
Provision for loan losses			3,499			1,200			1,790			570
Net interest income after provision for loan losses			12,072			12,764			9,976			10,211
Non-interest income			6,249			2,233			1,573			1,245
Non-interest expense			9,780			8,590			7,141			7,234
Income before income taxes			8,541			6,407			4,408			4,222
Income tax expense			5,216			2,562			1,757			1,674
Net income		$	3,325		$	3,845		$	2,651		$	2,548
Basic earnings per share		$	0.50		$	0.83		$	0.57		$	0.55
Diluted earnings per share		$	0.49		$	0.82		$	0.57		$	0.55

	2016 Quarter Ended
	December 31			September 30			June 30			March 31
Interest income		$	11,919		$	11,337		$	10,970		$	9,929
Interest expense			1,492			1,519			1,598			1,480
Net interest income			10,427			9,818			9,372			8,449
Provision for loan losses			5,900			350			1,250			560
Net interest income after provision for loan losses			4,527			9,468			8,122			7,889
Non-interest income			1,288			1,321			1,658			1,156
Non-interest expense			6,199			8,267			6,662			6,243
Income before income taxes			(384)			2,522			3,118			2,802
Income tax expense			(433)			1,072			1,268			1,138
Net income		$	49		$	1,450		$	1,850		$	1,664
Basic earnings per share		$	0.01		$	(0.50)		$	0.59		$	0.53
Diluted earnings per share(1)		$	0.01		$	(0.50)		$	0.58		$	0.53

(1)    The EPS for September 30, 2016 was negative despite having a positive Net Income due to dividends paid out to preferred shareholders in that quarter.