QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

12 Months Ended

Dec. 31, 2018

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, 2018 and 2017 (dollars in thousands, except per share data):

	Three Months Ended
	March 31		June 30	Sep. 30		Dec. 31
2018
Interest income	$	11,142	12,538	15,070		15,844
Interest expense	954		1,170	1,967		2,334
Net interest income	10,188		11,368	13,103		13,510
Provision for loan losses	79		224	659		(39	)
Net interest income after provision	10,109		11,144	12,444		13,549
Total non-interest income	2,636		2,791	2,921		2,702
Total non-interest expenses	9,549		10,711	10,317		9,925
Income before income taxes	3,196		3,224	5,048		6,326
Provision for income taxes	483		486	847		1,133
Net income	$	2,713	2,738	4,201		5,193
Earnings per common share:
Basic	$	0.27	0.25	0.32		0.40
Diluted	0.27		0.25	0.32		0.40
2017
Interest income	$	10,864	10,934	11,055		11,610
Interest expense	877		861	908		953
Net interest income	9,987		10,073	10,147		10,657
Provision for loan losses	15		222	(12	)	(10	)
Net interest income after provision	9,972		9,851	10,159		10,667
Total non-interest income	2,430		2,790	2,659		2,579
Total non-interest expenses	7,968		8,611	8,672		8,612
Income before income taxes	4,434		4,030	4,146		4,634
Provision for income taxes	1,188		1,027	1,040		1,017
Net income	$	3,246	3,003	3,106		3,617
Earnings per common share:
Basic	$	0.32	0.30	0.31		0.37
Diluted	0.32		0.30	0.31		0.36