Quarterly Financial Results (Unaudited)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Results (Unaudited)

Quarterly Financial Results (Unaudited)

Quarterly financial information for the years ended December 31, 2015 and 2014 is summarized below:

For the Year Ended December 31, 2015	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(Dollars in thousands except per share amounts)
Revenues(2)	$	48,138	$	47,969	$	46,181	$	47,339
Operating income(2)	6,273		5,621		6,657		6,550
Net income(2)(3)	3,917		3,376		4,220		72,721
Basic net income per common share(1)	0.18		0.16		0.20		3.54
Diluted net income per common share(1)	0.18		0.16		0.20		3.53
For the Year Ended December 31, 2014	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(Dollars in thousands except per share amounts)
Revenues	$	50,119	$	49,094	$	49,791	$	51,269
Operating income	8,092		7,368		8,073		4,618
Net income	4,890		4,291		4,652		6,912
Basic net income per common share(1)	0.23		0.20		0.21		0.32
Diluted net income per common share(1)	0.22		0.19		0.21		0.31

⁽¹⁾ Basic and diluted net income per common share is computed independently for each period presented. As a result, the sum of the quarterly basic and diluted net income per common share for the years ended December 31, 2015 and 2014 may not equal the total computed for the year.

⁽²⁾ Slight variations in totals are due to rounding.

⁽³⁾ Fourth quarter 2015 net income includes $68.4 million from the release of the valuation allowance (refer to Note 6).