Quarterly Operating Results (unaudited) |
(24) Quarterly Operating Results (unaudited)
Following is a summary of quarterly operating results (unaudited) for 2012, 2011 and 2010:
|
|
2012 |
|
(In thousands, except per share data) |
|
4th quarter |
|
3rd quarter |
|
2nd quarter |
|
1st quarter |
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
22,034 |
|
$ |
21,692 |
|
$ |
21,363 |
|
$ |
21,812 |
|
Interest expense |
|
3,724 |
|
2,897 |
|
3,068 |
|
3,262 |
|
|
|
|
|
|
|
|
|
|
|
Net interest income |
|
18,310 |
|
18,795 |
|
18,295 |
|
18,550 |
|
|
|
|
|
|
|
|
|
|
|
Provision for loan losses |
|
2,475 |
|
2,475 |
|
2,475 |
|
4,075 |
|
Net interest income after provision |
|
15,835 |
|
16,320 |
|
15,820 |
|
14,475 |
|
Non-interest income |
|
10,127 |
|
9,795 |
|
9,290 |
|
9,245 |
|
Non-interest expenses |
|
17,183 |
|
17,045 |
|
16,508 |
|
14,736 |
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes |
|
8,779 |
|
9,070 |
|
8,602 |
|
8,984 |
|
Income tax expense |
|
2,265 |
|
2,388 |
|
2,499 |
|
2,482 |
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
6,514 |
|
$ |
6,682 |
|
$ |
6,103 |
|
$ |
6,502 |
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per share |
|
$ |
0.47 |
|
$ |
0.48 |
|
$ |
0.44 |
|
$ |
0.47 |
|
Diluted earnings per share |
|
0.47 |
|
0.48 |
|
0.44 |
|
0.47 |
|
|
|
2011 |
|
|
|
4th quarter |
|
3rd quarter |
|
2nd quarter |
|
1st quarter |
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
21,569 |
|
$ |
21,616 |
|
$ |
21,566 |
|
$ |
21,288 |
|
Interest expense |
|
3,553 |
|
3,826 |
|
3,955 |
|
3,973 |
|
|
|
|
|
|
|
|
|
|
|
Net interest income |
|
18,016 |
|
17,790 |
|
17,611 |
|
17,315 |
|
|
|
|
|
|
|
|
|
|
|
Provision for loan losses |
|
3,100 |
|
4,100 |
|
2,600 |
|
2,800 |
|
Net interest income after provision |
|
14,916 |
|
13,690 |
|
15,011 |
|
14,515 |
|
Non-interest income |
|
9,229 |
|
7,858 |
|
8,152 |
|
8,005 |
|
Non-interest expenses |
|
16,727 |
|
13,302 |
|
14,725 |
|
14,827 |
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes |
|
7,418 |
|
8,246 |
|
8,438 |
|
7,693 |
|
Income tax expense |
|
1,076 |
|
2,472 |
|
2,441 |
|
2,202 |
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
6,342 |
|
$ |
5,774 |
|
$ |
5,997 |
|
$ |
5,491 |
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per share |
|
$ |
0.46 |
|
$ |
0.42 |
|
$ |
0.43 |
|
$ |
0.40 |
|
Diluted earnings per share |
|
0.46 |
|
0.42 |
|
0.43 |
|
0.40 |
|
|
|
2010 |
|
|
|
4th quarter |
|
3rd quarter |
|
2nd quarter |
|
1st quarter |
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
21,723 |
|
$ |
22,018 |
|
$ |
21,448 |
|
$ |
20,957 |
|
Interest expense |
|
4,399 |
|
4,804 |
|
4,901 |
|
5,163 |
|
|
|
|
|
|
|
|
|
|
|
Net interest income |
|
17,324 |
|
17,214 |
|
16,547 |
|
15,794 |
|
|
|
|
|
|
|
|
|
|
|
Provision for loan losses |
|
3,695 |
|
2,695 |
|
2,384 |
|
2,695 |
|
Net interest income after provision |
|
13,629 |
|
14,519 |
|
14,163 |
|
13,099 |
|
Non-interest income |
|
9,578 |
|
8,262 |
|
7,923 |
|
7,976 |
|
Non-interest expenses |
|
15,083 |
|
13,909 |
|
14,381 |
|
13,758 |
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes |
|
8,124 |
|
8,872 |
|
7,705 |
|
7,317 |
|
Income tax expense |
|
2,073 |
|
2,507 |
|
2,149 |
|
2,336 |
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
6,051 |
|
$ |
6,365 |
|
$ |
5,556 |
|
$ |
4,981 |
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per share |
|
$ |
0.44 |
|
$ |
0.46 |
|
$ |
0.41 |
|
$ |
0.37 |
|
Diluted earnings per share |
|
0.44 |
|
0.46 |
|
0.40 |
|
0.36 |
|
Note: The sum of earnings per share of each of the quarters in 2012, 2011 and 2010 may not add to the year to date amount reported in Bancorp’s consolidated financial statements due to rounding.
|