QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

The following table sets forth certain quarterly results for the years ended December 31, 2020 and 2019 (dollars in thousands, except per share data):


	Three Months Ended
	March 31		June 30	Sep. 30	Dec. 31
2020
Interest income	$	16,556	15,957	15,322	15,945
Interest expense	2,378		1,959	1,793	1,432
Net interest income	14,178		13,998	13,529	14,513
Provision for loan losses	1,173		16	976	(151)
Net interest income after provision	13,005		13,982	12,553	14,664
Total non-interest income	3,839		3,319	4,278	4,305
Total non-interest expenses	11,072		11,116	11,653	11,944
Income before income taxes	5,772		6,185	5,178	7,025
Provision for income taxes	746		1,128	928	1,283
Net income	$	5,026	5,057	4,250	5,742

Earnings per common share:
Basic	$	0.39	0.39	0.33	0.44
Diluted	0.39		0.39	0.33	0.44


2019
Interest income	$	16,113	16,328	16,329	16,424
Interest expense	2,722		2,738	2,751	2,577
Net interest income	13,391		13,590	13,578	13,847
Provision for loan losses	(105)		54	264	(6)
Net interest income after provision	13,496		13,536	13,314	13,853
Total non-interest income	2,772		2,998	3,356	3,222
Total non-interest expenses	10,700		10,833	10,982	11,007
Income before income taxes	5,568		5,701	5,688	6,068
Provision for income taxes	941		973	961	1,238
Net income	$	4,627	4,728	4,727	4,830

Earnings per common share:
Basic	$	0.35	0.36	0.36	0.37
Diluted	0.35		0.36	0.36	0.37