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Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2016
Selected Quarterly Financial Data  
Selected Quarterly Financial Data

22. Selected Quarterly Financial Data (Unaudited)

 

The table below sets forth unaudited financial information for each quarter of the last two years.  Certain reclassifications have been made to prior period amounts to conform to current year presentation.  See Note 2 – Discontinued Operations for additional information.  Earnings per common share as noted below have not been separated between continuing and discontinued operations, as disclosed in Note 14 – Earnings per Common Share.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

2015

(in thousands)

   

Q4

   

Q3(1)

   

Q2

   

Q1

    

Q4(2)

   

Q3

   

Q2

   

Q1

Interest income

 

$
32,779

 

$
32,308

 

$
31,500

 

$
31,195

 

$
31,081

 

$
30,177

 

$
30,044

 

$
29,964

Interest expense

 

 
2,891

 

 
2,907

 

 
2,967

 

 
2,966

 

 
2,845

 

 
2,810

 

 
1,972

 

 
1,963

Net interest income

 

 
29,888

 

 
29,401

 

 
28,533

 

 
28,229

 

 
28,236

 

 
27,367

 

 
28,072

 

 
28,001

Income before income taxes

 

 
11,825

 

 
13,812

 

 
11,729

 

 
9,715

 

 
5,114

 

 
9,291

 

 
10,596

 

 
10,745

Net income from continuing operations

 

 
8,733

 

 
10,269

 

 
8,532

 

 
7,365

 

 
4,400

 

 
6,954

 

 
7,383

 

 
7,403

Loss from discontinued operations, net of tax

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 
(71)

Net income

 

 
8,733

 

 
10,269

 

 
8,532

 

 
7,365

 

 
4,400

 

 
6,954

 

 
7,383

 

 
7,332

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share(3)

 

$
0.21

 

$
0.25

 

$
0.21

 

$
0.18

 

$
0.11

 

$
0.17

 

$
0.17

 

$
0.18

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share(3)

 

$
0.21

 

$
0.25

 

$
0.21

 

$
0.18

 

$
0.11

 

$
0.17

 

$
0.17

 

$
0.18

 

(1)

Net income for the third quarter of 2016 benefited from noninterest income of $1.4 million on other investments and a $1.2 million provision for loan loss reversal.

(2)

Net income for the fourth quarter of 2015 includes the impact of a $5.4 million provision for loan loss.  See Note 4 – Loans for additional information.

(3)

Due to rounding, the sum of the quarterly earnings per share amounts may not equal earnings per share for the year as disclosed elsewhere in this report.