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Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2012
Quarterly Financial Data [Abstract]  
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited)
The following tables present Intermountain’s condensed operations on a quarterly basis for the years ended December 31, 2012 and 2011 (dollars in thousands, except per share amounts):
 
 
Year Ended December 31, 2012
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Interest income
 
$
9,120

 
$
9,126

 
$
8,927

 
$
8,594

Interest expense
 
(1,498
)
 
(1,315
)
 
(1,258
)
 
(1,012
)
Provision for losses on loans
 
(959
)
 
(1,575
)
 
(1,155
)
 
(618
)
Net interest income after provision for losses on loans
 
6,663

 
6,236

 
6,514

 
6,964

Other income
 
2,436

 
2,768

 
2,552

 
3,070

Operating expenses
 
(8,298
)
 
(8,222
)
 
(8,242
)
 
(8,671
)
Income before income taxes
 
801

 
782

 
824

 
1,363

Income tax benefit
 
—

 
—

 
—

 
8

Net income
 
$
801

 
$
782

 
$
824

 
$
1,371

Preferred stock dividend
 
466

 
481

 
482

 
462

Net income available to common stockholders
 
$
335

 
$
301

 
$
342

 
$
909

Earnings per share — basic
 
$
0.08

 
$
0.05

 
$
0.05

 
$
0.14

Earnings per share — diluted
 
$
0.08

 
$
0.05

 
$
0.05

 
$
0.14

Weighted average shares outstanding — basic
 
4,427,831

 
5,901,321

 
6,441,986

 
6,442,729

Weighted average shares outstanding — diluted
 
4,442,673

 
5,919,188

 
6,458,228

 
6,470,944


 
 
Year Ended December 31, 2011
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Interest income
 
$
10,488

 
$
10,790

 
$
10,609

 
$
9,770

Interest expense
 
(1,776
)
 
(1,805
)
 
(1,802
)
 
(1,429
)
Provision for losses on loans
 
(1,634
)
 
(2,712
)
 
(2,239
)
 
(704
)
Net interest income after provision for losses on loans
 
7,078

 
6,273

 
6,568

 
7,637

Other income
 
2,663

 
2,733

 
2,484

 
2,745

Operating expenses
 
(9,740
)
 
(9,611
)
 
(9,812
)
 
(9,167
)
Loss before income taxes
 
1

 
(605
)
 
(760
)
 
1,215

Income tax provision (benefit)
 
—

 
—

 
—

 
152

Net income (loss)
 
$
1

 
$
(605
)
 
$
(760
)
 
$
1,367

Preferred stock dividend
 
443

 
448

 
457

 
460

Net income (loss) available to common stockholders
 
$
(442
)
 
$
(1,053
)
 
$
(1,217
)
 
$
907

Earnings (loss) per share — basic
 
$
(0.53
)
 
$
(1.25
)
 
$
(1.44
)
 
$
1.08

Earnings (loss) per share — diluted
 
$
(0.53
)
 
$
(1.25
)
 
$
(1.44
)
 
$
1.08

Weighted average shares outstanding — basic
 
839,650

 
840,979

 
840,984

 
840,984

Weighted average shares outstanding — diluted
 
839,650

 
840,979

 
840,984

 
842,733