Quarterly Consolidated Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2016

24. Quarterly Consolidated Results of Operations (Unaudited)

The following is a summary of the quarterly consolidated results of operations:

	Three Months Ended
	March 31		June 30		September 30		December 31
	(In Thousands, Except Per Share Amounts)
2016
Interest income	$	21,130	$	21,480	$	22,003	$	22,770
Interest expense		1,942		2,084		2,183		2,231
Net interest income		19,188		19,396		19,820		20,539
Provision for loan losses		364		53		15		(149)
Net interest income after provision for loan losses		18,824		19,343		19,805		20,688
Gain on sale, call or write-down of securities		131		227		151		-
Noninterest income		8,505		8,348		8,375		8,293
Noninterest expense		17,274		17,347		18,292		18,180
Income before income taxes		10,186		10,571		10,039		10,801
Income taxes		3,017		3,307		2,994		3,436
Net income	$	7,169	$	7,264	$	7,045	$	7,365

Earnings per common share:
Basic	$	0.80	$	0.81	$	0.78	$	0.82
Diluted	$	0.80	$	0.80	$	0.78	$	0.81
Average shares outstanding:
Basic		8,994		8,968		8,976		8,969
Diluted		9,064		9,036		9,050		9,035

	Three Months Ended
	March 31		June 30		September 30		December 31
	(In Thousands, Except Per Share Amounts)
2015
Interest income	$	19,757	$	20,037	$	20,266	$	20,776
Interest expense		1,567		1,672		1,733		1,809
Net interest income		18,190		18,365		18,533		18,967
Provision for loan losses		120		-		(27)		43
Net interest income after provision for loan losses		18,070		18,365		18,560		18,924
Gain on sale, call or write-down of securities		-		-		-		22
Noninterest income		8,281		7,809		7,982		7,709
Noninterest expense		16,897		16,796		16,848		17,348
Income before income taxes		9,454		9,378		9,694		9,307
Income taxes		2,853		2,815		2,998		2,744
Net income	$	6,601	$	6,563	$	6,696	$	6,563

Earnings per common share:
Basic	$	0.71	$	0.71	$	0.72	$	0.72
Diluted	$	0.69	$	0.70	$	0.72	$	0.71
Average shares outstanding:
Basic		9,234		9,268		9,238		9,146
Diluted		9,611		9,349		9,322		9,235