XML 24 R33.htm IDEA: XBRL DOCUMENT v2.4.0.6
Quarterly Operating Results (unaudited)
12 Months Ended
Dec. 31, 2012
Quarterly Operating Results (unaudited)  
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.