Quarterly Financial Information (unaudited)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information (unaudited)

Quarterly Financial Information (unaudited)

Note 23.  Quarterly Financial Information (unaudited)

The following table provides a summary of results for the periods indicated:

	For The Quarters Ended,
	Q4		Q3		Q2		Q1		Q4		Q3		Q2		Q1
(dollar amounts in thousands, except per share data)	2012		2012		2012		2012		2011		2011		2011		2011
Interest income	$	11,649	$	11,519	$	11,401	$	11,752	$	12,012	$	12,072	$	12,040	$	12,103
Net interest income	10,763		10,585		10,406		10,749		10,906		10,855		10,729		10,714
Provision for credit losses	-		1,286		3,064		3,331		693		1,086		2,299		1,985
Non interest income	3,548		2,984		3,494		2,522		3,213		2,557		2,059		1,901
Non interest expense	9,474		8,795		9,133		8,729		9,221		9,050		9,181		9,866
Income before provision for income taxes	4,837		3,488		1,703		1,211		4,205		3,276		1,308		764
Net income	3,127		6,428		1,897		1,585		4,130		2,119		954		522
Dividends and accretion on preferred stock	357		357		375		381		250		373		370		365
Net income available to common shareholders	$	2,770	$	6,071	$	1,522	$	1,204	$	3,880	$	1,746	$	584	$	157
Earnings per common share
Basic	$	0.11	$	0.24	$	0.06	$	0.05	$	0.16	$	0.07	$	0.02	$	0.01
Diluted	$	0.10	$	0.23	$	0.06	$	0.05	$	0.15	$	0.07	$	0.02	$	0.01

The quarterly results for the fourth quarter of 2011 and the first, second and third quarters of 2012 were impacted by the reversal of the Company’s deferred tax asset valuation allowance in the amounts of $1.5 million, $0.8 million, $0.7 million and $4.1 million, respectively.