QUARTERLY RESULTS OF OPERATIONS

12 Months Ended

Dec. 31, 2016

Quarterly Results of Operations [Abstract]

QUARTERLY RESULTS OF OPERATIONS

QUARTERLY RESULTS OF OPERATIONS

Selected quarterly information for the years ended December 31, 2016 and 2015, is as follows:

Dollars in thousands, except per share data	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2016
Interest income	$	9,964	$	10,010	$	10,181	$	10,345
Interest expense	957		980		996		1,001
Net interest income	9,007		9,030		9,185		9,344
Provision for loan losses	—		—		—		—
Net interest income after provision for loan losses	9,007		9,030		9,185		9,344
Net gains on sales of securities	—		—		—		26
Gain on sales of premises and equipment	—		449		—		—
Other income	2,872		3,362		3,301		3,198
Proposed merger expenses	—		—		—		472
Other expenses and provision for income taxes	9,332		9,859		9,718		9,524
Net income	$	2,547	$	2,982	$	2,768	$	2,572
Basic earnings per share	$	0.42	$	0.49	$	0.46	$	0.43
Dividends per share	$	0.20	$	0.20	$	0.20	$	0.20
2015
Interest income	$	9,811	$	10,045	$	9,717	$	9,891
Interest expense	970		989		959		940
Net interest income	8,841		9,056		8,758		8,951
Provision for loan losses	—		—		—		—
Net interest income after provision for loan losses	8,841		9,056		8,758		8,951
Net gains on sales of securities	—		101		158		2
Other income	2,793		3,138		3,132		3,082
Other expenses and provision for income taxes	9,091		9,485		9,236		9,183
Net income	$	2,543	$	2,810	$	2,812	$	2,852
Basic earnings per share	$	0.42	$	0.47	$	0.47	$	0.47
Dividends per share	$	0.20	$	0.20	$	0.20	$	0.20