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Quarterly Financial Data (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2019
Quarterly Financial Data (Unaudited)  
Schedule of the Company's selected unaudited quarterly financial data

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

 

    

12/31/2019

    

9/30/2019

    

6/30/2019

    

3/31/2019

 

 

(Dollars in thousands, except per share amounts)

Interest income

 

$

42,471

 

$

33,250

 

$

33,489

 

$

33,449

Interest expense

 

 

3,242

 

 

2,625

 

 

2,573

 

 

2,407

Net interest income

 

 

39,229

 

 

30,625

 

 

30,916

 

 

31,042

Provision (credit) for loan losses

 

 

3,223

 

 

(576)

 

 

(740)

 

 

(1,061)

Net interest income after provision for loan losses

 

 

36,006

 

 

31,201

 

 

31,656

 

 

32,103

Noninterest income

 

 

2,393

 

 

2,618

 

 

2,765

 

 

2,468

Noninterest expense (1)

 

 

30,626

 

 

17,909

 

 

18,445

 

 

17,918

Income before income taxes

 

 

7,773

 

 

15,910

 

 

15,976

 

 

16,653

Income tax expense

 

 

2,088

 

 

4,633

 

 

4,623

 

 

4,507

Net income

 

$

5,685

 

$

11,277

 

$

11,353

 

$

12,146

Earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.10

 

$

0.26

 

$

0.26

 

$

0.28

Diluted

 

$

0.10

 

$

0.26

 

$

0.26

 

$

0.28

 


(1)

Includes $9,879,000,  $661,000, and $540,000 pre-tax acquisition costs in the fourth, third, and second quarters of 2019, respectively, related to the Presidio merger.

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

 

    

12/31/2018

    

9/30/2018

    

6/30/2018

    

3/31/2018

 

 

(Dollars in thousands, except per share amounts)

Interest income

 

$

35,378

 

$

34,610

 

$

31,980

 

$

27,877

Interest expense

 

 

2,318

 

 

2,159

 

 

1,816

 

 

1,529

Net interest income

 

 

33,060

 

 

32,451

 

 

30,164

 

 

26,348

Provision for loan losses

 

 

142

 

 

(425)

 

 

7,198

 

 

506

Net interest income after provision for loan losses

 

 

32,918

 

 

32,876

 

 

22,966

 

 

25,842

Noninterest income

 

 

2,393

 

 

2,206

 

 

2,780

 

 

2,195

Noninterest expense (1)

 

 

16,941

 

 

17,728

 

 

24,862

 

 

15,990

Income before income taxes

 

 

18,370

 

 

17,354

 

 

884

 

 

12,047

Income tax expense

 

 

5,138

 

 

4,979

 

 

(31)

 

 

3,238

Net income

 

$

13,232

 

$

12,375

 

$

915

 

$

8,809

Earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.31

 

$

0.29

 

$

0.02

 

$

0.23

Diluted

 

$

0.30

 

$

0.28

 

$

0.02

 

$

0.23

 

 

 

 

 

 

 

 

 

 

 


(1)

Includes $139,000,  $199,000,  $8,214,000, and $615,000 pre-tax acquisition costs in the fourth, third, second and first quarters of 2018, respectively, related to the Tri-Valley and United American mergers.