Summarized Quarterly Financial Information (Unaudited) |
SUMMARIZED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
A summary of selected quarterly financial information is presented below (in thousands, except for per share data): | | | | | | | | | | | | | | | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | | | | | | 2015 | | | | | Interest income | $ | 32,364 |
| $ | 31,720 |
| $ | 30,768 |
| $ | 32,222 |
| Taxable equivalent adjustment | 142 |
| 144 |
| 147 |
| 179 |
| Interest income (FTE) | 32,506 |
| 31,864 |
| 30,915 |
| 32,401 |
| Interest expense | 2,973 |
| 2,937 |
| 2,910 |
| 3,010 |
| Net interest income | 29,533 |
| 28,927 |
| 28,005 |
| 29,391 |
| Provision for loan losses | 888 |
| 2,836 |
| 451 |
| 2,813 |
| Investment securities gains | 14 |
| 2,116 |
| — |
| — |
| Non-interest income | 24,007 |
| 13,289 |
| 13,706 |
| 14,074 |
| Non-interest expense | 23,165 |
| 23,244 |
| 25,377 |
| 21,165 |
| Income before income tax expense | 29,501 |
| 18,252 |
| 15,883 |
| 19,487 |
| Income tax expense | 11,367 |
| 6,125 |
| 5,129 |
| 5,793 |
| Taxable equivalent adjustment | (142 | ) | (144 | ) | (147 | ) | (179 | ) | Net income available to common shareholders | $ | 17,992 |
| $ | 11,983 |
| $ | 10,607 |
| $ | 13,515 |
| | | | | | Net earnings allocated to common shareholders | $ | 17,783 |
| $ | 11,849 |
| $ | 10,487 |
| $ | 13,362 |
| | | | | | Basic earnings per common share | $ | 1.18 |
| $ | 0.78 |
| $ | 0.69 |
| $ | 0.88 |
| Diluted earnings per common share | 1.17 |
| 0.78 |
| 0.69 |
| 0.88 |
| Average common shares outstanding: | | | | | Basic | 15,067 |
| 15,104 |
| 15,178 |
| 15,158 |
| Diluted | 15,149 |
| 15,127 |
| 15,198 |
| 15,175 |
| | | | | | 2014 | | | | | Interest income | $ | 33,018 |
| $ | 31,828 |
| $ | 32,438 |
| $ | 32,282 |
| Taxable equivalent adjustment | 153 |
| 151 |
| 152 |
| 164 |
| Interest income (FTE) | 33,171 |
| 31,979 |
| 32,590 |
| 32,446 |
| Interest expense | 2,978 |
| 2,973 |
| 2,968 |
| 3,041 |
| Net interest income | 30,193 |
| 29,006 |
| 29,622 |
| 29,405 |
| Provision for loan losses | 1,363 |
| 435 |
| 1,872 |
| 384 |
| Investment securities losses | 83 |
| 818 |
| 71 |
| 184 |
| Non-interest income | 14,222 |
| 14,321 |
| 14,538 |
| 14,485 |
| Non-interest expense | 23,376 |
| 24,305 |
| 24,325 |
| 23,035 |
| Income before income tax expense | 19,759 |
| 19,405 |
| 18,034 |
| 20,655 |
| Income tax expense | 5,803 |
| 6,497 |
| 6,010 |
| 5,961 |
| Taxable equivalent adjustment | (153 | ) | (151 | ) | (152 | ) | (164 | ) | Net income available to common shareholders | $ | 13,803 |
| $ | 12,757 |
| $ | 11,872 |
| $ | 14,530 |
| | | | | | Net earnings allocated to common shareholders | $ | 13,663 |
| $ | 12,626 |
| $ | 11,746 |
| $ | 14,374 |
| | | | | | Basic earnings per common share | $ | 0.87 |
| $ | 0.81 |
| $ | 0.76 |
| $ | 0.95 |
|
| | | | | | | | | | | | | | Diluted earnings per common share | 0.86 |
| 0.80 |
| 0.76 |
| 0.95 |
| Average common shares outstanding: | | | | | Basic | 15,631 |
| 15,556 |
| 15,363 |
| 15,096 |
| Diluted | 15,796 |
| 15,706 |
| 15,445 |
| 15,182 |
|
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