Summary of Quarterly Results of Operations (unaudited) |
Note 30 - Summary of Quarterly Results of Operations
(unaudited)
The following table sets forth the results of operations for the
periods indicated, 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.
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2014 Quarters Ended |
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December 31, |
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September 30, |
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June 30, |
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March 31, |
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(dollars in
thousands, except per share data) |
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Interest and dividend income:
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|
|
|
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|
|
|
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Loans:
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|
|
|
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|
|
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Discount accretion PCI – cash basis
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$ |
290 |
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|
$ |
69 |
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$ |
203 |
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Discount accretion PCI – other
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|
822 |
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|
811 |
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|
984 |
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Discount accretion PNCI
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|
402 |
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|
624 |
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|
379 |
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All other loan interest income
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23,466 |
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|
22,929 |
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22,172 |
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Total loan interest income
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24,980 |
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|
24,433 |
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|
23,738 |
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Debt securities, dividends and interest bearing cash at Banks (not
FTE)
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4,151 |
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3,985 |
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|
3,421 |
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Total interest income
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29,131 |
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|
28,418 |
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|
|
27,159 |
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Interest expense
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|
1,082 |
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|
|
1,075 |
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|
|
1,087 |
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Net interest income
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28,049 |
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|
27,343 |
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26,072 |
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(Benefit from) provision for loan losses
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(2,977 |
) |
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|
1,708 |
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(1,355 |
) |
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Net interest income after provision for loan losses
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31,026 |
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25,635 |
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27,427 |
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Noninterest income
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8,589 |
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7,877 |
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|
8,295 |
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Noninterest expense
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25,380 |
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25,116 |
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23,317 |
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Income before income taxes
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14,235 |
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8,396 |
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12,405 |
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Income tax expense
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6,001 |
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3,537 |
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|
5,040 |
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Net income
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$ |
8,234 |
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$ |
4,859 |
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$ |
7,365 |
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Per common share:
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Net income (diluted)
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$ |
0.50 |
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$ |
0.30 |
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$ |
0.45 |
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Dividends
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$ |
0.11 |
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$ |
0.11 |
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$ |
0.11 |
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2013 Quarters Ended |
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|
December 31, |
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|
September 30, |
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|
June 30, |
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|
March 31, |
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|
(dollars in
thousands, except per share data) |
|
Interest and dividend income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Loans:
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Discount accretion PCI – cash basis
|
|
$ |
255 |
|
|
$ |
140 |
|
|
$ |
129 |
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|
$ |
167 |
|
Discount accretion PCI – other
|
|
|
893 |
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|
|
898 |
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|
|
732 |
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|
|
597 |
|
Discount accretion PNCI
|
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|
568 |
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|
1,115 |
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|
815 |
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|
766 |
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All other loan interest income
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|
22,754 |
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|
22,970 |
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|
22,207 |
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22,542 |
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Total loan interest income
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|
24,470 |
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|
25,123 |
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|
23,883 |
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|
24,072 |
|
Debt securities, dividends and interest bearing cash at Banks (not
FTE)
|
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|
2,992 |
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|
2,413 |
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|
1,873 |
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|
1,734 |
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Total interest income
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27,462 |
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|
27,536 |
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|
25,756 |
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|
25,806 |
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Interest expense
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1,123 |
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|
1,169 |
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|
1,167 |
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|
1,237 |
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Net interest income
|
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26,339 |
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|
26,367 |
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24,589 |
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|
24,569 |
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Provision for (benefit from) loan losses
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|
172 |
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(393 |
) |
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|
614 |
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(1,108 |
) |
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Net interest income after provision for loan losses
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26,167 |
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|
26,760 |
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|
23,975 |
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|
25,677 |
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Noninterest income
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|
7,353 |
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|
9,127 |
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10,131 |
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|
10,218 |
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Noninterest expense
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|
24,878 |
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|
23,616 |
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|
23,509 |
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|
21,601 |
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Income before income taxes
|
|
|
8,642 |
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|
12,271 |
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|
10,597 |
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|
14,294 |
|
Income tax expense
|
|
|
3,406 |
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|
4,910 |
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|
4,272 |
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|
5,817 |
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Net income
|
|
$ |
5,236 |
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|
$ |
7,361 |
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|
$ |
6,325 |
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$ |
8,477 |
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Per common share:
|
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|
|
|
|
|
|
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|
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Net income (diluted)
|
|
$ |
0.32 |
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|
$ |
0.45 |
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|
$ |
0.39 |
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|
$ |
0.53 |
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Dividends
|
|
$ |
0.11 |
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|
$ |
0.11 |
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|
$ |
0.11 |
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|
$ |
0.09 |
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