XML 71 R51.htm IDEA: XBRL DOCUMENT v3.8.0.1
Quarterly Results of Operations (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Results of Operations
The following table presents a summary of the quarterly results of operations for the year ended:
 
 
December 31,
 
 
2017
 
2016
  
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter(1)
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Interest income
 
$
32,414

 
$
33,940

 
$
34,710

 
$
35,040

 
$
31,981

 
$
32,775

 
$
32,594

 
$
32,276

Interest expense
 
4,559

 
5,314

 
5,550

 
5,381

 
4,029

 
4,271

 
4,222

 
4,032

Net interest income
 
27,855

 
28,626

 
29,160

 
29,659

 
27,952

 
28,504

 
28,372

 
28,244

Provision for credit losses
 
579

 
1,401

 
817

 
238

 
872

 
2,852

 
1,279

 
255

Non-interest income
 
8,572

 
9,888

 
10,299

 
9,840

 
7,917

 
10,552

 
11,001

 
10,151

Non-interest expense
 
21,428

 
22,158

 
21,825

 
23,099

 
22,909

 
22,330

 
22,149

 
22,508

Income before income taxes
 
14,420

 
14,955

 
16,817

 
16,162

 
12,088

 
13,874

 
15,945

 
15,632

Income tax expense
 
4,344

 
4,721

 
5,478

 
19,335

 
3,442

 
4,258

 
5,042

 
4,730

Net income (loss)
 
$
10,076

 
$
10,234

 
$
11,339

 
$
(3,173
)
 
$
8,646

 
$
9,616

 
$
10,903

 
$
10,902

Per common share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
$
0.65

 
$
0.66

 
$
0.72

 
$
(0.20
)
 
$
0.56

 
$
0.62

 
$
0.70

 
$
0.70

Diluted
 
$
0.64

 
$
0.66

 
$
0.72

 
$
(0.20
)
 
$
0.56

 
$
0.62

 
$
0.70

 
$
0.70


(1)
In the fourth quarter of 2017, the Company recognized $14.3 million of additional income tax expense upon the revaluation of its deferred tax assets and liabilities upon enactment of the Tax Act on December 22, 2017, which lowered the federal corporate tax rate from 35.0% to 21.0%, effective January 1, 2018. The impact to fourth quarter 2017 basic and diluted EPS was $0.91 per share.