QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2015

19. QUARTERLY FINANCIAL DATA (UNAUDITED)

Selected Consolidated Quarterly Financial Data

2015 Quarter Ended,	March 31,			June 30,			September 30,			December 31,
(In thousands, except per share amounts)
Interest income	$	20,507		$	22,380		$	31,744		$	31,609
Interest expense		1,812			1,953			2,659			3,705
Net interest income		18,695			20,427			29,085			27,904
Provision for loan losses		800			700			1,500			1,000
Net interest income after provision for loan losses		17,895			19,727			27,585			26,904
Non-interest income		2,804			2,527			3,926			3,411
Non-interest expenses		13,310	⁽²⁾		22,034	⁽³⁾		19,373	⁽⁴⁾		18,173	⁽⁵⁾
Income before income taxes		7,389			220			12,138			12,142
Income tax expense		2,626			(243	)		4,248			4,147
Net income	$	4,763		$	463		$	7,890		$	7,995
Basic earnings per share	$	0.41		$	0.04		$	0.45		$	0.46
Diluted earnings per share	$	0.41		$	0.04		$	0.45		$	0.46

2014 Quarter Ended,	March 31,			June 30,			September 30,		December 31,
(In thousands, except per share amounts)
Interest income	$	17,358		$	18,730		$	19,219	$	19,603
Interest expense		1,822			1,915			1,857		1,866
Net interest income		15,536			16,815			17,362		17,737
Provision for loan losses		700			500			500		500
Net interest income after provision for loan losses		14,836			16,315			16,862		17,237
Non-interest income		802	⁽¹⁾		2,292			2,562		2,510
Non-interest expenses		15,013	⁽²⁾		12,124	⁽³⁾		12,094		13,183	⁽⁵⁾
Income before income taxes		625			6,483			7,330		6,564
Income tax expense		219			2,165			2,459		2,396
Net income	$	406		$	4,318		$	4,871	$	4,168
Basic earnings per share	$	0.04		$	0.37		$	0.42	$	0.36
Diluted earnings per share	$	0.04		$	0.37		$	0.42	$	0.36

(1)

2014 amount includes net securities losses of $1.1 million.

(2)

2015 amount includes costs associated with the CNB acquisition of $0.2 million.

2014 amount includes costs associated with the FNBNY acquisition and branch restructuring of $4.4 million.

(3)

2015 amount includes costs associated with the CNB acquisition of $8.2 million.

2014 amount includes costs associated with the FNBNY acquisition of $0.3 million.

(4)

2015 amount includes costs associated with the CNB acquisition of $0.9 million.

(5)

2015 amount includes costs associated with the CNB acquisition of $0.5 million.

2014 amount includes costs associated with the CNB acquisition of $0.8 million