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QUARTERLY FINANCIAL DATA (UNAUDITED)
12 Months Ended
Dec. 31, 2019
QUARTERLY FINANCIAL DATA (UNAUDITED)  
QUARTERLY FINANCIAL DATA (UNAUDITED)

22. QUARTERLY FINANCIAL DATA (UNAUDITED)

Selected Consolidated Quarterly Financial Data follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019 Quarter Ended

 

(In thousands, except per share amounts)

    

March 31, 

    

June 30, 

    

September 30, 

    

December 31, 

 

Interest income  

 

$

44,515

 

$

46,352

 

$

46,354

 

$

44,320

  

Interest expense

 

 

10,192

 

 

10,835

 

 

9,639

 

 

8,672

  

Net interest income

 

 

34,323

 

 

35,517

  

 

36,715

 

 

35,648

  

Provision for loan losses

 

 

600

 

 

3,500

  

 

1,000

 

 

600

 

Net interest income after provision for loan losses

 

 

33,723

 

 

32,017

  

 

35,715

 

 

35,048

  

Non-interest income

 

 

5,218

 

 

5,499

 

 

6,244

 

 

8,426

  

Non-interest expense

 

 

22,599

 

 

24,004

  

 

24,204

 

 

25,332

 

Income before income taxes

 

 

16,342

 

 

13,512

  

 

17,755

 

 

18,142

  

Income tax expense

 

 

3,415

 

 

2,859

  

 

3,852

 

 

3,934

 

Net income

 

$

12,927

  

$

10,653

  

$

13,903

  

$

14,208

  

Basic earnings per share

 

$

0.65

  

$

0.53

  

$

0.70

  

$

0.71

  

Diluted earnings per share

 

$

0.65

  

$

0.53

  

$

0.70

  

$

0.71

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018 Quarter Ended

 

(In thousands, except per share amounts)

    

March 31, 

    

June 30, 

    

September 30, 

    

December 31, 

 

Interest income  

 

$

41,364

 

$

41,551

 

$

42,589

 

$

43,480

  

Interest expense

 

 

6,825

 

 

7,622

 

 

8,375

 

 

9,382

  

Net interest income

 

 

34,539

 

 

33,929

  

 

34,214

 

 

34,098

  

Provision for loan losses

 

 

800

 

 

400

  

 

200

 

 

400

 

Net interest income after provision for loan losses

 

 

33,739

 

 

33,529

  

 

34,014

 

 

33,698

  

Non-interest income (loss)

 

 

4,113

 

 

(2,578)

(1)

 

4,918

 

 

5,115

  

Non-interest expense

 

 

22,598

 

 

22,507

  

 

31,004

(2)

 

22,071

(3)

Income before income taxes

 

 

15,254

 

 

8,444

  

 

7,928

 

 

16,742

  

Income tax expense

 

 

3,181

 

 

1,701

  

 

1,381

 

 

2,878

 

Net income

 

$

12,073

  

$

6,743

  

$

6,547

  

$

13,864

  

Basic earnings per share

 

$

0.61

  

$

0.34

  

$

0.33

  

$

0.70

  

Diluted earnings per share

 

$

0.61

  

$

0.34

  

$

0.33

  

$

0.70

  


(1)  2018 amount includes a pre-tax net securities loss of $7.9 million.

(2)  2018 amount includes a pre-tax charge related to the fraudulent conduct of a business customer of $9.5 million.

(3)  2018 amount includes a pre-tax charge of $0.8 million related to office relocation costs and a pre-tax recovery of $0.6 million related to fraud loss.