QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

The following table sets forth certain quarterly results for the years ended December 31, 2014 and 2013 (dollars in thousands, except per share data):

	Three Months Ended
	March 31		June 30	Sep. 30	Dec. 31
2014
Interest income	$	9,278	9,926	9,906	10,367
Interest expense	915		920	911	844
Net interest income	8,363		9,006	8,995	9,523
Provision for loan losses	81		255	401	193
Net interest income after provision	8,282		8,751	8,594	9,330
Total non-interest income	2,077		2,301	2,315	2,449
Total non-interest expenses	8,672		7,600	7,238	7,334
Income before income taxes	1,687		3,452	3,671	4,445
Provision for income taxes	364		841	953	1,228
Net income	$	1,323	2,611	2,718	3,217
Earnings per common share:
Basic	$	0.14	0.28	0.30	0.34
Diluted	0.14		0.28	0.29	0.34
2013
Interest income	$	8,076	8,405	8,450	8,566
Interest expense	1,098		1,045	995	927
Net interest income	6,978		7,360	7,455	7,639
Provision for loan losses	149		42	178	219
Net interest income after provision	6,829		7,318	7,277	7,420
Total non-interest income	2,507		2,178	2,047	2,358
Total non-interest expenses	7,091		6,324	6,163	6,634
Income before income taxes	2,245		3,172	3,161	3,144
Provision for income taxes	517		824	804	797
Net income	$	1,728	2,348	2,357	2,347
Earnings per common share:
Basic	$	0.23	0.31	0.31	0.27
Diluted	0.23		0.30	0.30	0.27