QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

12 Months Ended

Dec. 31, 2015

Quarterly Results Of Operations

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

22. Quarterly Results of Operations (unaudited)

The tables below represent the quarterly results of operations for the years ended December 31, 2015 and 2014, respectively:

	2015
	FOURTH		THIRD		SECOND		FIRST
Total interest and fee income	$	3,635,011	$	3,569,672	$	3,550,663	$	3,474,602
Total interest expense		108,115		101,230		99,579		93,471
Net interest income		3,526,896		3,468,442		3,451,084		3,381,131
Provision for loan losses		110,000		7,500		70,000		5,000
Net interest income after provisions for loan losses		3,411,896		3,460,942		3,381,084		3,376,131
Other income		788,770		662,038		868,492		730,658
Other expense		2,402,221		2,372,742		2,399,458		2,339,054
Income before income tax expense		1,803,443		1,750,238		1,850,118		1,767,737
Income tax expense		576,474		551,319		596,680		562,775
Net income	$	1,226,971	$	1,198,919	$	1,253,438	$	1,204,960
Basic income per common share	$	0.25	$	0.24	$	0.25	$	0.25
Diluted income per common share	$	0.24	$	0.24	$	0.26	$	0.22

	2014
	FOURTH		THIRD		SECOND		FIRST
Total interest and fee income	$	3,475,648	$	3,419,865		3,315,756	$	3,206,985
Total interest expense		100,047		104,253		103,024		101,623
Net interest income		3,375,601		3,315,612		3,212,732		3,105,362
Provision for loan losses		20,000		12,500		20,000		30,000
Net interest income after provisions for loan losses		3,355,601		3,303,112		3,192,732		3,075,362
Other income		741,128		617,385		683,235		539,335
Other expense		2,375,787		2,241,978		2,252,940		2,240,499
Income before income tax expense		1,720,942		1,678,519		1,623,027		1,374,198
Income tax expense		529,560		536,806		513,100		418,400
Net income	$	1,191,382	$	1,141,713	$	1,109,927	$	955,798
Basic income per common share	$	0.24	$	0.23	$	0.23	$	0.20
Diluted income per common share	$	0.24	$	0.23	$	0.22	$	0.18