Selected Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (unaudited)

Note 26—Selected Quarterly Financial Data (unaudited)

	For the year ended December 31, 2019
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Interest and dividend income	$	61,110	$	66,760	$	71,029	$	65,915
Interest expense		11,025		12,312		13,191		12,001
Net interest income		50,085		54,448		57,838		53,914
Provision for loan and lease losses		3,999		6,391		5,931		4,387
Net interest income after provision for loan and lease losses		46,086		48,057		51,907		49,527
Non-interest income		11,988		14,183		14,806		14,516
Non-interest expense		40,679		43,954		45,448		43,694
Income before provision for income taxes		17,395		18,286		21,265		20,349
Provision for income taxes		4,798		5,075		5,923		4,497
Net income		12,597		13,211		15,342		15,852
Dividends on preferred shares		196		195		196		196
Income available to common stockholders	$	12,401	$	13,016	$	15,146	$	15,656
Basic earnings per common share	$	0.34	$	0.35	$	0.40	$	0.41
Diluted earnings per common share	$	0.34	$	0.34	$	0.39	$	0.41

The Company recorded net income of $13.2 million, or $0.35 per common share, for the second quarter of 2019. The Company’s net interest income before provision for loan and lease losses was $54.4 million. On April 30, 2019, the Company acquired the assets and assumed the liabilities of Oak Park River Forest. Revenue and expenses of the acquired company since the acquisition were included in the Company’s operating results.

Note 26—Selected Quarterly Financial Data (unaudited)(continued)

	For the year ended December 31, 2018
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Interest and dividend income	$	38,142	$	44,841	$	61,073	$	62,895
Interest expense		4,447		5,785		8,480		9,634
Net interest income		33,695		39,056		52,593		53,261
Provision for loan and lease losses		5,115		3,956		5,842		3,882
Net interest income after provision for loan and lease losses		28,580		35,100		46,751		49,379
Non-interest income		11,123		14,211		10,902		14,290
Non-interest expense		31,614		45,479		37,715		40,088
Income before provision for income taxes		8,089		3,832		19,938		23,581
Provision for income taxes		1,321		1,064		5,402		6,460
Net income		6,768		2,768		14,536		17,121
Dividends on preferred shares		193		198		196		196
Income available to common stockholders	$	6,575	$	2,570	$	14,340	$	16,925
Basic earnings per common share	$	0.22	$	0.08	$	0.40	$	0.47
Diluted earnings per common share	$	0.22	$	0.08	$	0.39	$	0.46

The Company recorded net income of $2.8 million, or $0.08 per common share, for the second quarter of 2018. The Company’s net interest income before provision for loan losses was $39.1 million. On May 31, 2018, the Company acquired the assets and assumed the liabilities of First Evanston. Revenue and expenses of the acquired company since the acquisition were included in the Company’s operating results. Additionally, during the second quarter, the Company incurred $8.1 million in data processing costs related to a termination fee for our core system conversion.