Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2013

Quarterly Results of Operations (Unaudited)

Quarterly Results of Operations (Unaudited)

18. Quarterly Results of Operations (Unaudited)

The following is a summary of selected financial data presented below by quarter for the periods indicated:

	First		Second			Third		Fourth
	Quarter		Quarter			Quarter		Quarter
	(dollars in thousands, except per share data)
For the year ended December 31, 2013
Interest income	$	14,235	$	14,936		$	16,374	$	17,973
Interest expense	1,336		1,347			1,366		1,307
Provision for estimated loan losses	296		322			646		596
Noninterest income	1,724		2,431			2,321		2,617
Noninterest expense	11,179		15,856			11,771		12,009
Income tax provision	1,176		91			1,846		2,474
Net income	$	1,972	$	(249	)	$	3,066	$	4,204
Earnings per share:
Basic	$	0.14	$	(0.02	)	$	0.19	$	0.26
Diluted	$	0.13	$	(0.02	)	$	0.18	$	0.25
For the year ended December 31, 2012
Interest income	$	12,116	$	13,046		$	13,626	$	14,159
Interest expense	2,075		1,764			1,772		1,538
Provision for estimated loan losses	—		—			145		606
Noninterest income	939		6,529			1,910		3,194
Noninterest expense	6,641		8,205			8,031		8,977
Income tax provision	1,647		3,795			2,126		2,421
Net income	$	2,692	$	5,811		$	3,462	$	3,811
Earnings per share:
Basic	$	0.26	$	0.56		$	0.34	$	0.33
Diluted	$	0.25	$	0.55		$	0.32	$	0.32