Summary of Quarterly Results of Operations (unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Results of Operations (unaudited)

Note 27 – Summary of Quarterly Results of Operations (unaudited)

The following table sets forth the results of operations for the four quarters of 2019 and 2018, and is unaudited; however, in the opinion of Management, it reflects all adjustments (which include only normal recurring adjustments) necessary to present fairly the summarized results for such periods.

	2019 Quarters Ended
(dollars in thousands, except per share data)	December 31,		September 30,		June 30,		March 31,
Interest and dividend income:
Loans:
Discount accretion	$	2,218	$	2,360	$	1,904	$	1,655
All other loan interest income	54,644		54,639		53,587		52,743
Total loan interest income	56,862		56,999		55,491		54,398
Debt securities, dividends and interest bearing cash at banks	11,056		11,890		12,689		13,059
Total interest income	67,918		68,889		68,180		67,457
Interest expense	3,722		4,201		3,865		3,587
Net interest income	64,196		64,688		64,315		63,870
(Benefit from reversal of) provision for loan losses	(298)		(329)		537		(1,600)
Net interest income after provision for loan losses	64,494		65,017		63,778		65,470
Noninterest income	14,186		14,108		13,423		11,803
Noninterest expense	46,964		46,344		46,697		45,452
Income before income taxes	31,716		32,781		30,504		31,821
Income tax expense	8,826		9,386		7,443		9,095
Net income	$	22,890	$	23,395	$	23,061	$	22,726
Per common share:
Net income (diluted)	$	0.75	$	0.76	$	0.75	$	0.74
Dividends	$	0.22	$	0.22	$	0.19	$	0.19

	2018 Quarters Ended
(dollars in thousands, except per share data)	December 31,		September 30,		June 30,		March 31,
Interest and dividend income:
Loans:
Discount accretion	$	1,982	$	2,098	$	559	$	632
All other loan interest income	53,680		51,004		38,745		37,417
Total loan interest income	55,662		53,102		39,304		38,049
Debt securities, dividends and interest bearing cash at banks	12,403		11,452		9,174		9,072
Total interest income	68,065		64,554		48,478		47,121
Interest expense	4,063		4,065		2,609		2,135
Net interest income	64,002		60,489		45,869		44,986
Provision for (benefit from reversal of provision for) loan losses	806		2,651		(638)		(236)
Net interest income after provision for loan losses	63,196		57,838		46,507		45,222
Noninterest income	12,634		12,186		12,174		12,290
Noninterest expense	45,285		47,378		37,870		38,162
Income before income taxes	30,545		22,646		20,811		19,350
Income tax expense	7,334		6,476		5,782		5,440
Net income	$	23,211	$	16,170	$	15,029	$	13,910
Per common share:
Net income (diluted)	$	0.76	$	0.53	$	0.65	$	0.60
Dividends	$	0.19	$	0.17	$	0.17	$	0.17