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Note 25 - Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Quarterly Financial Information [Text Block]
NOTE
2
5
– QUARTERLY FINANCIAL DATA (UNAUDITED)
 
   
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
Earnings
Per Common Share
  
   
Interest
Income
    
Net Interest
Income
    
Negative
Provision
For
Loan Losses
    
Income
Before
Income
Taxes
    
Net
Income
(Loss)
    
Basic
(1)
    
Diluted
(1)
  
   
(in thousands, except per share data)
  
201
9
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
First quarter (2)
   $
12,186
     $
8,959
     $
—
     $
2,962
     $
2,839
     $
0.38
     $
0.38
  
Second quarter (2)
    
12,376
      
8,800
      
—
      
3,022
      
3,633
      
0.49
      
0.49
  
Third quarter
    
12,485
     $
8,730
     $
—
     $
2,813
     $
2,282
     $
0.31
     $
0.31
  
Fourth quarter (3)
    
12,537
      
8,861
      
—
      
2,201
      
1,764
      
0.24
      
0.24
  
                                                         
201
8
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
First quarter
   $
10,015
     $
8,181
     $
—
     $
2,263
     $
1,934
     $
0.31
     $
0.31
  
Second quarter
    
10,585
      
8,374
      
(150
)
    
2,466
      
1,983
      
0.27
      
0.27
  
Third quarter
    
11,120
     $
8,412
     $
(350
)
   $
3,041
     $
2,437
     $
0.33
     $
0.33
  
Fourth quarter
    
11,741
      
8,704
      
—
      
3,054
      
2,440
      
0.33
      
0.33
  
 
 
(
1
)
The sum of the quarterly net income per share (basic and diluted) differs from the annual net income per share (basic and diluted) because of the differences in the weighted average number of common shares outstanding and the common shares used in the quarterly and annual computations as well as differences in rounding.
 
 
(
2
)
Income tax expense for
2019
benefitted
$341,000,
or
$0.05
per basic and diluted share, in the
first
quarter of
2019
and
$1.2
million, or
$0.16
per basic and diluted share, from the establishment of a state net deferred tax asset related to the
2019
tax law enactments.
 
 
(
3
)
On
November 15, 2019,
the Company completed a
four
branch acquisition. Acquisition related costs totaled
$775,000,
or
$0.08
per common share after taxes.