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Quarterly Results of Operations (unaudited)

12 Months Ended

Dec. 31, 2012

Quarterly Results of Operations (unaudited) [Abstract]

Quarterly Results of Operations (unaudited)

21. Quarterly Results of Operations (unaudited)

2012 Quarters

Fourth

Third

Second

First

(in thousands, except share data)

Interest income

$

19,738

$

22,079

$

20,312

$

19,365

Interest expense

4,795

4,859

4,923

4,963

Net interest income

14,943

17,220

15,389

14,402

Provision for loan losses

900

1,250

900

1,100

Net interest income after provision for loan losses

14,043

15,970

14,489

13,302

Other operating income

4,153

4,105

3,988

3,619

Operating expenses

13,279

13,708

13,451

12,800

Income before income taxes

4,917

6,367

5,026

4,121

Provision for income taxes

139

685

255

313

Net income

$

4,778

$

5,682

$

4,771

$

3,808

Share data:

Average shares outstanding, basic

Class A

3,564,145

3,559,125

3,556,474

3,550,993

Class B

1,986,880

1,989,380

1,991,880

1,993,755

Average shares outstanding, diluted

Class A

5,552,121

5,549,810

5,548,830

5,545,711

Class B

1,986,880

1,989,380

1,991,880

1,993,755

Earnings per share, basic

Class A

$

1.05

$

1.25

$

1.05

$

0.84

Class B

$

0.52

$

0.62

$

0.52

$

0.42

Earnings per share, diluted

Class A

$

0.86

$

1.02

$

0.86

$

0.69

Class B

$

0.52

$

0.62

$

0.52

$

0.42


		2011 Quarters
		Fourth				Third				Second				First
		(in thousands, except share data)
Interest income		$	19,252			$	19,638			$	19,597			$	19,578
Interest expense			5,233				5,800				6,082				5,651

Net interest income			14,019				13,838				13,515				13,927
Provision for loan losses			950				1,200				1,200				1,200

Net interest income after provision for loan losses			13,069				12,638				12,315				12,727
Other operating income			4,361				4,503				3,841				3,535
Operating expenses			12,702				12,055				11,775				12,210

Income before income taxes			4,728				5,086				4,381				4,052
Provision for income taxes			539				504				184				327

Net income		$	4,189			$	4,582			$	4,197			$	3,725

Share data:
Average shares outstanding, basic
Class A			3,546,418				3,544,967				3,543,717				3,537,828
Class B			1,994,380				1,995,630				1,996,880				2,002,755
Average shares outstanding, diluted
Class A			5,542,052				5,541,646				5,541,595				5,541,927
Class B			1,994,380				1,995,630				1,996,880				2,002,755
Earnings per share, basic
Class A		$	0.92			$	1.01			$	0.92			$	0.82
Class B		$	0.46			$	0.50			$	0.46			$	0.41
Earnings per share, diluted
Class A		$	0.76			$	0.83			$	0.76			$	0.67
Class B		$	0.46			$	0.50			$	0.46			$	0.41

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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