Quarterly Condensed Financial Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Condensed Financial Information (Unaudited)

Schedule of unaudited quarterly condensed financial information

The following tables present the unaudited quarterly condensed financial information for the years ended December 31, 2019 and 2018:

	2019 Quarter Ended
	March 31		June 30		September 30		December 31
(dollars in thousands)
Interest Income	$	24,267	$	25,520	$	26,572	$	27,419
Interest Expense		7,136		7,382		7,637		7,491
Net Interest Income		17,131		18,138		18,935		19,928
Provision for Loan Losses		600		600		900		600
Net Interest Income after Provision for Loan Losses		16,531		17,538		18,035		19,328
Noninterest Income		634		1,134		946		1,112
Noninterest Expense		7,885		9,474		9,084		10,489
Income Before Income Taxes		9,280		9,198		9,897		9,951
Provision for Income Taxes		2,262		1,189		2,092		1,380
Net Income	$	7,018	$	8,009	$	7,805	$	8,571
Earnings per share
Basic	$	0.23	$	0.27	$	0.27	$	0.30
Diluted	$	0.23	$	0.26	$	0.27	$	0.29

	2018 Quarter Ended
	March 31		June 30		September 30		December 31
(dollars in thousands)
Interest Income	$	18,710	$	20,392	$	22,136	$	23,988
Interest Expense		3,947		4,493		5,502		6,546
Net Interest Income		14,763		15,899		16,634		17,442
Provision for Loan Losses		600		900		1,275		800
Net Interest Income after Provision for Loan Losses		14,163		14,999		15,359		16,642
Noninterest Income		387		485		814		857
Noninterest Expense		6,532		6,464		7,526		11,040
Income Before Income Taxes		8,018		9,020		8,647		6,459
Provision (Benefit) for Income Taxes		2,068		2,274		2,184		(1,302)
Net Income	$	5,950	$	6,746	$	6,463	$	7,761
Earnings per share
Basic	$	0.23	$	0.22	$	0.22	$	0.26
Diluted	$	0.23	$	0.22	$	0.21	$	0.25