Quarterly Results of Operations |
Note 23 – Quarterly Results of Operations (Unaudited)
The following is a condensed summary of quarterly results of operations for the years ended June 30, 2019 and 2018:
|
Year Ended June 30, 2019 |
|
|
First
Quarter |
|
|
Second
Quarter |
|
|
Third
Quarter |
|
|
Fourth
Quarter |
|
|
September 30 |
|
|
December 31 |
|
|
March 31 |
|
|
June 30 |
|
|
(In Thousands, Except Per Share Data) |
|
Interest income |
$ |
58,206 |
|
|
$ |
60,022 |
|
|
$ |
59,657 |
|
|
$ |
59,448 |
|
Interest expense |
|
18,026 |
|
|
|
20,673 |
|
|
|
21,019 |
|
|
|
22,302 |
|
Net interest income |
|
40,180 |
|
|
|
39,349 |
|
|
|
38,638 |
|
|
|
37,146 |
|
Provision for loan losses |
|
2,100 |
|
|
|
971 |
|
|
|
(179 |
) |
|
|
664 |
|
Net interest income after provision for
loan losses |
|
38,080 |
|
|
|
38,378 |
|
|
|
38,817 |
|
|
|
36,482 |
|
Non-interest income |
|
3,182 |
|
|
|
3,309 |
|
|
|
3,676 |
|
|
|
3,388 |
|
Non-interest expense |
|
26,457 |
|
|
|
27,270 |
|
|
|
26,771 |
|
|
|
28,745 |
|
Income before Income Taxes |
|
14,805 |
|
|
|
14,417 |
|
|
|
15,722 |
|
|
|
11,125 |
|
Income taxes |
|
3,659 |
|
|
|
3,649 |
|
|
|
4,305 |
|
|
|
2,314 |
|
Net Income |
$ |
11,146 |
|
|
$ |
10,768 |
|
|
$ |
11,417 |
|
|
$ |
8,811 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
$ |
0.12 |
|
|
$ |
0.12 |
|
|
$ |
0.13 |
|
|
$ |
0.10 |
|
Diluted |
$ |
0.12 |
|
|
$ |
0.12 |
|
|
$ |
0.13 |
|
|
$ |
0.10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares
outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
95,127 |
|
|
|
92,434 |
|
|
|
89,488 |
|
|
|
87,090 |
|
Diluted |
|
95,181 |
|
|
|
92,480 |
|
|
|
89,532 |
|
|
|
87,132 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends declared per common share |
$ |
0.20 |
|
|
$ |
0.05 |
|
|
$ |
0.06 |
|
|
$ |
0.06 |
|
Note 23 – Quarterly Results of Operations (Unaudited) (continued)
|
Year Ended June 30, 2018 |
|
|
First
Quarter |
|
|
Second
Quarter |
|
|
Third
Quarter |
|
|
Fourth
Quarter |
|
|
September 30 |
|
|
December 31 |
|
|
March 31 |
|
|
June 30 |
|
|
(In Thousands, Except Per Share Data) |
|
Interest income |
$ |
37,592 |
|
|
$ |
38,032 |
|
|
$ |
38,545 |
|
|
$ |
57,262 |
|
Interest expense |
|
10,782 |
|
|
|
11,197 |
|
|
|
11,488 |
|
|
|
16,671 |
|
Net interest income |
|
26,810 |
|
|
|
26,835 |
|
|
|
27,057 |
|
|
|
40,591 |
|
Provision for loan losses |
|
630 |
|
|
|
936 |
|
|
|
423 |
|
|
|
717 |
|
Net interest income after provision for
loan losses |
|
26,180 |
|
|
|
25,899 |
|
|
|
26,634 |
|
|
|
39,874 |
|
Non-interest income |
|
3,094 |
|
|
|
3,263 |
|
|
|
3,548 |
|
|
|
3,358 |
|
Non-interest expense |
|
21,286 |
|
|
|
22,764 |
|
|
|
22,543 |
|
|
|
31,257 |
|
Income before Income Taxes |
|
7,988 |
|
|
|
6,398 |
|
|
|
7,639 |
|
|
|
11,975 |
|
Income taxes |
|
2,756 |
|
|
|
5,129 |
|
|
|
2,262 |
|
|
|
4,257 |
|
Net Income |
$ |
5,232 |
|
|
$ |
1,269 |
|
|
$ |
5,377 |
|
|
$ |
7,718 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
$ |
0.07 |
|
|
$ |
0.02 |
|
|
$ |
0.07 |
|
|
$ |
0.08 |
|
Diluted |
$ |
0.07 |
|
|
$ |
0.02 |
|
|
$ |
0.07 |
|
|
$ |
0.08 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares
outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
79,649 |
|
|
|
77,174 |
|
|
|
75,492 |
|
|
|
98,046 |
|
Diluted |
|
79,708 |
|
|
|
77,239 |
|
|
|
75,539 |
|
|
|
98,100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends declared per common share |
$ |
0.15 |
|
|
$ |
0.03 |
|
|
$ |
0.03 |
|
|
$ |
0.04 |
|
|