QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

12 Months Ended

Dec. 31, 2012

Quarterly Results Of Operations

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

17. Quarterly Results of Operations (unaudited)

The tables below represent the quarterly results of operations for the years ended December 31, 2012 and 2011, respectively:

	2012
		FOURTH		THIRD		SECOND		FIRST
Total interest and fee income	$	3,155,002	$	3,098,440		3,081,764	$	3,127,653
Total interest expense		104,285		106,875		112,400		132,059
Net interest income		3,050,717		2,991,565		2,969,364		2,995,594
Provision for loan losses		70,000		80,000		80,000		120,000
Net interest income after provisions for loan losses		2,980,717		2,911,565		2,889,364		2,875,594
Other income		659,490		570,181		562,744		553,048
Other expense		2,217,030		2,156,249		2,204,558		2,153,788
Income before income tax expense		1,423,177		1,325,497		1,247,550		1,274,854
Income tax expense		431,004		431,835		357,283		384,128
Net income	$	992,173	$	893,662	$	890,267	$	890,726
Basic income per common share	$	.22	$	.20	$	.20	$	.20
Diluted income per common share	$	.22	$	.20	$	.20	$	.20

	2011
		FOURTH		THIRD		SECOND		FIRST
Total interest and fee income	$	3,158,632	$	3,127,754		3,042,514	$	2,948,704
Total interest expense		150,919		177,288		213,883		235,938
Net interest income		3,007,713		2,950,466		2,828,631		2,712,766
Provision for loan losses		120,000		120,000		120,000		120,000
Net interest income after provisions for loan losses		2,887,713		2,830,466		2,708,631		2,592,766
Other income		412,645		496,905		439,080		429,327
Other expense		2,118,365		1,983,371		2,045,876		2,112,654
Income before income tax expense		1,181,993		1,344,000		1,101,835		909,439
Income tax expense		347,041		407,027		333,810		260,071
Net income	$	834,952	$	936,973	$	768,025	$	649,368
Basic income per common share	$	.20	$	.21	$	.17	$	.14
Diluted income per common share	$	.20	$	.21	$	.17	$	.14