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Selected Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

Quarterly financial information for the years ended December 31, 2016 and 2015 is summarized below:



For the Year Ended December 31, 2016	First Quarter				Second Quarter				Third Quarter				Fourth Quarter
	(Dollars in thousands except per share amounts)
Revenues⁽²⁾	$	45,388			$	44,635			$	45,355			$	44,184
Operating income⁽²⁾	5,800				5,620				6,029				4,703
Net income⁽²⁾⁽⁴⁾	3,444				3,451				4,058				3,026
Basic and diluted net income per common share⁽¹⁾	0.17				0.17				0.20				0.15
For the Year Ended December 31, 2015	First Quarter				Second Quarter				Third Quarter				Fourth Quarter⁽⁴⁾
	(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				68,732
Basic and diluted net income per common share⁽¹⁾	0.18				0.16				0.20				3.28


⁽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, 2016 and 2015 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 $64.2 million from the release of the deferred income tax asset valuation allowance (refer to Note 8, "Income Taxes").


⁽⁴⁾	Fourth quarter 2015 net income reflects a revision to net income by $4.0 million to adjust deferred income taxes as further described in Note 1, "Organization and Significant Accounting Policies".