UNAUDITED QUARTERLY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2013

UNAUDITED QUARTERLY FINANCIAL INFORMATION [Abstract]

UNAUDITED QUARTERLY FINANCIAL INFORMATION

20. UNAUDITED QUARTERLY FINANCIAL INFORMATION

The following represents the unaudited condensed consolidated results of operations for each of the quarters during the fiscal years ended December 31, 2013 and 2012:

	For the three months ended
	March 31, 2013		June 30, 2013		September 30, 2013		December 31, 2013
Net interest income	$	32,314	$	33,752	$	31,653	$	30,767	(1)
Provision (credit) for loan losses		157		28		240		(56	)
Net interest income after provision for loan losses		32,157		33,724		31,413		30,823
Non-interest income		1,898		1,721		2,008		1,837	(1)
Non-interest expense		16,309		15,347		15,575		15,461
Income before income taxes		17,746		20,098		17,846		17,199
Income tax expense		7,176		8,059		7,215		6,891
Net income	$	10,570	$	12,039	$	10,631	$	10,308
EPS (1):
Basic	$	0.30	$	0.34	$	0.30	$	0.29
Diluted	$	0.30	$	0.34	$	0.30	$	0.29

 ⁽¹⁾The quarterly EPS amounts, when added, may not coincide with the full fiscal year EPS reported on the Consolidated Statements of Operations due to differences in the computed weighted average shares outstanding as well as rounding differences.

	For the three months ended
	March 31, 2012		June 30, 2012		September 30, 2012		December 31, 2012
Net interest income	$	33,394	$	34,498	$	33,398	$	8,551	(1)
Provision for loan losses		1,457		2,275		126		63
Net interest income after provision for loan losses		31,937		32,223		33,272		8,488
Non-interest income		1,790		2,988		2,574		16,498	(1)
Non-interest expense		16,408		15,676		15,771		14,717
Income before income taxes		17,319		19,535		20,075		10,269
Income tax expense		7,072		8,004		8,280		3,534
Net income	$	10,247	$	11,531	$	11,795	$	6,735
EPS (2):
Basic	$	0.30	$	0.34	$	0.34	$	0.19
Diluted	$	0.30	$	0.34	$	0.34	$	0.19

⁽¹⁾ During the three months ended December 31, 2012, a charge of $25,582on the prepayment of REPOS was recognized as a reduction to net interest income, and a gain on the sale of premises and fixed assets of $13,726 was recognized as a component of non-interest income.

⁽²⁾The quarterly EPS amounts, when added, may not coincide with the full fiscal year EPS reported on the Consolidated Statements of Operations due to differences in the computed weighted average shares outstanding as well as rounding differences.