XML 26 R25.htm IDEA: XBRL DOCUMENT v2.4.1.9
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
12 Months Ended
Dec. 31, 2014
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) [Abstract]  
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
16. SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (dollars in thousands, except per share data)

  
2014
  
2013
 
  
4th Quarter
  
3rd Quarter
  
2nd Quarter
  
1st Quarter
  
4th Quarter
  
3rd Quarter
  
2nd Quarter
  
1st Quarter
 
Interest income
 
$
16,783
  
$
16,164
  
$
16,171
  
$
15,935
  
$
15,969
  
$
14,705
  
$
14,560
  
$
14,444
 
Interest expense
  
638
   
615
   
629
   
637
   
682
   
733
   
747
   
768
 
Net interest income
  
16,145
   
15,549
   
15,542
   
15,298
   
15,287
   
13,972
   
13,813
   
13,676
 
Provision for loan losses (1)
  
250
   
250
   
250
   
250
   
1,250
   
-
   
-
   
-
 
Net interest income after provision for loan losses
  
15,895
   
15,299
   
15,292
   
15,048
   
14,037
   
13,972
   
13,813
   
13,676
 
Non-interest income (2)
  
2,580
   
2,550
   
2,678
   
3,092
   
7,139
   
6,587
   
2,464
   
3,317
 
Operating expenses (3)
  
13,722
   
13,236
   
13,152
   
13,309
   
16,982
   
15,090
   
12,692
   
13,801
 
Income tax expense
  
687
   
875
   
1,047
   
1,111
   
866
   
1,557
   
816
   
483
 
Net income
 
$
4,066
  
$
3,738
  
$
3,771
  
$
3,720
  
$
3,328
  
$
3,912
  
$
2,769
  
$
2,709
 
Net income per common share - basic
 
$
0.35
  
$
0.32
  
$
0.33
  
$
0.32
  
$
0.29
  
$
0.34
  
$
0.24
  
$
0.23
 
Net income per common share - diluted
 
$
0.35
  
$
0.32
  
$
0.32
  
$
0.32
  
$
0.29
  
$
0.34
  
$
0.24
  
$
0.23
 
Cash dividends per common share
 
$
0.06
  
$
0.06
  
$
-
  
$
-
  
$
-
  
$
-
  
$
-
  
$
-
 

(1) 4th quarter 2013 amount reflects the impact of a charge-off of $1.5 million related to the sale of $8 million in non-performing and classified loans.

(2) 4th quarter 2013 and 3rd quarter 2013 amounts include gains on Visa shares sold of $3.9 million and $3.8 million, respectively.

(3) 4th quarter 2013 and 3rd quarter 2013 amounts include branch consolidation costs of $1.6 million and $460 thousand, respectively. Also included are reserve and carrying costs related to Visa shares sold totaling $515 thousand and $474 thousand for the 4th and 3rd quarter 2013, respectively.