SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) |
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
Results of operations on a quarterly basis for the years ended December 31, 2019, 2018 and 2017 were as follows (dollars in thousands except for per share data): | | | | | | | | | | | | | | | | | | Year Ended December 31, 2019 | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | Interest income | $ | 129,996 |
| | $ | 130,838 |
| | $ | 131,436 |
| | $ | 133,409 |
| Interest expense | 13,892 |
| | 14,143 |
| | 14,815 |
| | 13,918 |
| Net interest income before provision for loan losses | 116,104 |
| | 116,695 |
| | 116,621 |
| | 119,491 |
| Provision for loan losses | 2,000 |
| | 2,000 |
| | 2,000 |
| | 4,000 |
| Net interest income | 114,104 |
| | 114,695 |
| | 114,621 |
| | 115,491 |
| Non-interest income | 18,125 |
| | 22,676 |
| | 20,866 |
| | 20,282 |
| Non-interest expense | 90,014 |
| | 86,716 |
| | 87,308 |
| | 93,690 |
| Income before provision for income taxes | 42,215 |
| | 50,655 |
| | 48,179 |
| | 42,083 |
| Provision for income taxes | 8,869 |
| | 10,955 |
| | 8,602 |
| | 8,428 |
| Net income | $ | 33,346 |
| | $ | 39,700 |
| | $ | 39,577 |
| | $ | 33,655 |
| Basic earnings per share | $ | 0.95 |
| | $ | 1.14 |
| | $ | 1.15 |
| | $ | 0.96 |
| Diluted earnings per share | 0.95 |
| | 1.14 |
| | 1.15 |
| | 0.95 |
| Dividends declared | 0.41 |
| | 0.41 |
| | 0.41 |
| | 1.41 |
|
| | | | | | | | | | | | | | | | | | Year Ended December 31, 2018 | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | Interest income | $ | 104,820 |
| | $ | 112,423 |
| | $ | 117,648 |
| | $ | 128,741 |
| Interest expense | 5,447 |
| | 7,360 |
| | 8,570 |
| | 11,282 |
| Net interest income before provision for loan losses | 99,373 |
| | 105,063 |
| | 109,078 |
| | 117,459 |
| Provision for loan losses | 2,000 |
| | 2,000 |
| | 2,000 |
| | 2,500 |
| Net interest income | 97,373 |
| | 103,063 |
| | 107,078 |
| | 114,959 |
| Non-interest income | 21,362 |
| | 21,217 |
| | 20,411 |
| | 21,018 |
| Non-interest expense | 81,706 |
| | 82,637 |
| | 81,632 |
| | 95,396 |
| Income before provision for income taxes | 37,029 |
| | 41,643 |
| | 45,857 |
| | 40,581 |
| Provision for income taxes | 8,239 |
| | 9,219 |
| | 8,084 |
| | 3,053 |
| Net income | $ | 28,790 |
| | $ | 32,424 |
| | $ | 37,773 |
| | $ | 37,528 |
| Basic earnings per share | $ | 0.89 |
| | $ | 1.01 |
| | $ | 1.17 |
| | $ | 1.10 |
| Diluted earnings per share | 0.89 |
| | 1.00 |
| | 1.17 |
| | 1.09 |
| Dividends declared | 0.35 |
| | 0.85 |
| | 0.38 |
| | 0.38 |
|
| | | | | | | | | | | | | | | | | | Year Ended December 31, 2017 | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | Interest income | $ | 99,096 |
| | $ | 104,436 |
| | $ | 105,278 |
| | $ | 103,475 |
| Interest expense | 4,242 |
| | 4,730 |
| | 5,068 |
| | 5,211 |
| Net interest income before provision for loan losses | 94,854 |
| | 99,706 |
| | 100,210 |
| | 98,264 |
| Provision for loan losses | 2,000 |
| | 2,000 |
| | 2,000 |
| | 2,000 |
| Net interest income | 92,854 |
| | 97,706 |
| | 98,210 |
| | 96,264 |
| Non-interest income | 19,048 |
| | 20,396 |
| | 18,081 |
| | 27,675 |
| Non-interest expense | 76,281 |
| | 79,857 |
| | 80,331 |
| | 82,501 |
| Income before provision for income taxes | 35,621 |
| | 38,245 |
| | 35,960 |
| | 41,438 |
| Provision for income taxes | 11,828 |
| | 12,791 |
| | 10,883 |
| | 54,986 |
| Net income | $ | 23,793 |
| | $ | 25,454 |
| | $ | 25,077 |
| | $ | (13,548 | ) | Basic earnings per share | $ | 0.72 |
| | $ | 0.77 |
| | $ | 0.76 |
| | $ | (0.41 | ) | Diluted earnings per share | 0.72 |
| | 0.77 |
| | 0.76 |
| | (0.41 | ) | Dividends declared | 0.25 |
| | 1.25 |
| | 0.25 |
| | 0.25 |
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