NOTE 23 - QUARTERLY FINANCIAL DATA (UNAUDITED)

	Interest		Net Interest		Net		Earnings Per Share
	Income		Income		Income		Basic		Diluted
2019
First Quarter	$	19,064	$	16,835	$	6,176	$	0.42	$	0.42
Second Quarter		19,106		16,655		5,859		0.40		0.40
Third Quarter		19,308		16,778		6,267		0.43		0.43
Fourth Quarter		19,100		16,633		5,894		0.40		0.40

2018
First Quarter	$	15,799	$	14,635	$	5,133	$	0.38	$	0.38
Second Quarter		15,753		14,419		4,375		0.33		0.32
Third Quarter		16,001		14,509		5,021		0.38		0.37
Fourth Quarter		18,268		16,191		5,639		0.39		0.39

In 2019, interest income increased steadily largely due to increases in interest income on loans and short-term investments. Interest income in the first quarter of 2019 included approximately $719 of income recognized from deferred interest and discounts recognized on loans that paid off during the quarter. The changes in interest income resulted in similar changes in net interest income in 2019. However, interest expense increased steadily in each quarter, peaking in the third quarter, largely due to higher rates paid on deposits. Also contributing to an overall increase in interest income and net interest income in the fourth quarter of 2019, when compared to the quarterly income amounts in 2018, was the acquisition of the First National Bank of Jackson on October 25, 2019. The interest income from the loans and investments and interest expense on deposits and borrowings of Jackson are included in the quarterly financial results beginning in the fourth quarter of 2019. Earnings per share amounts were consistent with the changes in net income as average shares outstanding increased only slightly during 2019.

In 2018, interest income increased steadily largely due to increases in investment securities purchased. Interest income in the first quarter of 2018 included approximately $533 of income recognized from deferred interest and discounts recognized on loans that paid off during the quarter. The changes in interest income resulted in similar changes in net interest income in 2018. However, interest expense increased steadily in each quarter largely due to higher rates paid on deposits. Also contributing to an overall increase in interest income and net interest income in the fourth quarter of 2018, was the acquisition of the First Bank on October 12, 2018. The interest income from the loans and investments and interest expense on deposits and borrowings of First Bank are included in the quarterly financial results beginning in the fourth quarter of 2018. Earnings per share amounts were consistent with the changes in net income as average shares outstanding increased only slightly during the first three quarters of 2018. The fourth quarter earnings per share was impacted by the additional shares added from the acquisition of First Bank.