Quarterly Unaudited Financial Data

12 Months Ended

Dec. 31, 2020

Quarterly Unaudited Financial Data [Abstract]

Quarterly Unaudited Financial Data

23. Quarterly Unaudited Financial Data

The following tables set forth certain unaudited historical quarterly financial data for each of the eight consecutive quarters in 2020 and 2019. This information is derived from unaudited consolidated financial statements that include, in management’s opinion, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation when read in conjunction with the consolidated financial statements and notes thereto included elsewhere in this Form 10-K.

2020 (in thousands except per share data)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total
Total Interest Income	$	38,689	$	37,967	$	39,793	$	42,203	$	158,652
Total Interest Expense		3,263		2,552		2,094		1,582		9,491
Net Interest Income		35,426		35,415		37,699		40,621		149,161
Provision for Credit Losses		-		300		1,700		2,500		4,500
Net Interest Income After
Provision for Credit Losses		35,426		35,115		35,999		38,121		144,661
Total Non-Interest Income		2,927		3,514		4,539		4,716		15,696
Total Non-Interest Expense		19,790		19,787		20,783		22,046		82,406
Income Before Income Taxes		18,563		18,842		19,755		20,791		77,951
Provision for Income Taxes		4,441		4,533		4,945		5,298		19,217
Net Income	$	14,122	$	14,309	$	14,810	$	15,493	$	58,734
Basic and Diluted Earnings Per Common Share	$	17.80	$	18.03	$	18.66	$	19.54	$	74.03

2019 (in thousands except per share data)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total
Total Interest Income	$	37,173	$	38,626	$	38,810	$	39,099	$	153,708
Total Interest Expense		2,966		3,253		3,530		3,445		13,194
Net Interest Income		34,207		35,373		35,280		35,654		140,514
Provision for Credit Losses		-		200		-		-		200
Net Interest Income After
Provision for Credit Losses		34,207		35,173		35,280		35,654		140,314
Total Non-Interest Income		4,464		4,400		3,974		4,403		17,241
Total Non-Interest Expense		20,445		20,565		20,856		20,376		82,242
Income Before Income Taxes		18,226		19,008		18,398		19,681		75,313
Provision for Income Taxes		4,677		4,903		4,660		5,037		19,277
Net Income	$	13,549	$	14,105	$	13,738	$	14,644	$	56,036
Basic and Diluted Earnings Per Common Share	$	17.27	$	17.92	$	17.45	$	18.54	$	71.18