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QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2016

QUARTERLY FINANCIAL DATA (UNAUDITED)

QUARTERLY FINANCIAL DATA (UNAUDITED)

19. QUARTERLY FINANCIAL DATA (UNAUDITED)

Selected Consolidated Quarterly Financial Data

		2016 Quarter Ended
(In thousands, except per share amounts)		March 31,				June 30,				September 30,				December 31,
Interest income		$	33,607			$	34,733			$	34,761			$	34,615
Interest expense			4,175				4,143				4,077				4,450
Net interest income			29,432				30,590				30,684				30,165
Provision for loan losses			1,250				900				2,000				1,400
Net interest income after provision for loan losses			28,182				29,690				28,684				28,765
Non-interest income			3,995				4,269				4,034				3,748
Non-interest expense			18,907	⁽¹⁾			20,441				19,204				18,529	⁽²⁾
Income before income taxes			13,270				13,518				13,514				13,984
Income tax expense			4,644				4,664				4,663				4,824
Net income		$	8,626			$	8,854			$	8,851			$	9,160
Basic earnings per share		$	0.49			$	0.51			$	0.50			$	0.50
Diluted earnings per share		$	0.49			$	0.50			$	0.50			$	0.50

		2015 Quarter Ended
(In thousands, except per share amounts)		March 31,				June 30,				September 30,				December 31,
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 expense			13,310	⁽³⁾			22,034	⁽⁴⁾			19,373	⁽⁵⁾			18,173	⁽⁶⁾
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

(1)

2016 amount includes reversal of costs associated with the CNB and FNBNY acquisitions of $0.3 million.

(2)

2016 amount includes reversal of costs associated with the CNB and FNBNY acquisitions of $0.7 million.

(3)

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

(4)

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

(5)

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

(6)

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