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Quarterly Results of Operations
12 Months Ended
Jun. 30, 2019
Quarterly Financial Information Disclosure [Abstract]  
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