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Quarterly Financial Data (UNAUDITED)
12 Months Ended
Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (UNAUDITED)
21.
Quarterly Financial Data (UNAUDITED)

The summary quarterly financial information set forth below for each of the last eight quarters has been derived from the Company's unaudited interim consolidated financial statements and other financial information. The summary historical quarterly financial information includes all adjustments consisting of normal recurring accruals that the Company considers necessary for a fair presentation of the financial position and the results of operations for the periods.

The information below is only a summary and should be read in conjunction with "Management's Discussion and Analysis of Financial Condition and Results of Operations" and the consolidated historical financial statements and the related notes thereto included in this Annual Report on Form 10-K.

 

 

For the Quarters Ended December 31, 2021

 

(Dollars in thousands)

 

Q4

 

 

Q3

 

 

Q2

 

 

Q1

 

Selected income statement data:

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$

26,660

 

 

$

24,399

 

 

$

23,931

 

 

$

25,625

 

Interest expense

 

 

2,041

 

 

 

2,397

 

 

 

2,717

 

 

 

2,907

 

Net interest income

 

 

24,619

 

 

 

22,002

 

 

 

21,214

 

 

 

22,718

 

Provision for loan losses

 

 

6,100

 

 

 

2,323

 

 

 

-

 

 

 

1,500

 

Net interest income after provision for loan losses

 

 

18,519

 

 

 

19,679

 

 

 

21,214

 

 

 

21,218

 

Noninterest income

 

 

2,055

 

 

 

964

 

 

 

1,109

 

 

 

750

 

Noninterest expense

 

 

20,087

 

 

 

17,641

 

 

 

17,779

 

 

 

15,518

 

Income before income tax expense

 

 

487

 

 

 

3,002

 

 

 

4,544

 

 

 

6,450

 

Income tax expense

 

 

133

 

 

 

617

 

 

 

955

 

 

 

1,354

 

Net income

 

$

354

 

 

$

2,385

 

 

$

3,589

 

 

$

5,096

 

 

 

 

 

For the Quarters Ended December 31, 2020

 

(Dollars in thousands)

 

Q4

 

 

Q3

 

 

Q2

 

 

Q1

 

Selected income statement data:

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$

22,854

 

 

$

19,242

 

 

$

22,725

 

 

$

17,420

 

Interest expense

 

 

3,182

 

 

 

3,544

 

 

 

3,585

 

 

 

4,049

 

Net interest income

 

 

19,672

 

 

 

15,698

 

 

 

19,140

 

 

 

13,371

 

Provision for loan losses

 

 

5,000

 

 

 

 

 

 

2,000

 

 

 

550

 

Net interest income after provision for loan losses

 

 

14,672

 

 

 

15,698

 

 

 

17,140

 

 

 

12,821

 

Noninterest income

 

 

579

 

 

 

633

 

 

 

685

 

 

 

785

 

Noninterest expense

 

 

11,768

 

 

 

11,099

 

 

 

14,659

 

 

 

9,877

 

Income before income tax expense

 

 

3,483

 

 

 

5,232

 

 

 

3,166

 

 

 

3,729

 

Income tax expense

 

 

948

 

 

 

1,099

 

 

 

665

 

 

 

783

 

Net income

 

$

2,535

 

 

$

4,133

 

 

$

2,501

 

 

$

2,946