Quarterly Income Statements (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Income Statements (Unaudited)

NOTE 24 – QUARTERLY INCOME STATEMENTS (Unaudited)

The following table presents the unaudited quarterly condensed income statements for the years 2019 and 2018.

	2019								2018
(dollars in thousands)	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter		4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Interest income	$	33,907	$	34,669	$	35,943	$	37,206	$	35,181	$	24,473	$	22,284	$	20,177
Interest expense		10,784		11,157		11,626		11,294		9,599		5,857		4,457		3,732
Net interest income		23,123		23,512		24,317		25,912		25,582		18,616		17,827		16,445
Provision for credit losses		659		824		357		550		1,890		1,695		700		184
Net interest income after provision    for credit losses		22,464		22,688		23,960		25,362		23,692		16,921		17,127		16,261
Noninterest income:		5,823		2,799		5,496		4,202		5,489		2,105		2,793		2,455
Noninterest expense:		13,463		13,786		14,899		15,325		15,503		8,654		8,191		8,289
Income before income taxes		14,824		11,701		14,557		14,239		13,678		10,372		11,729		10,427
Income tax expense		4,149		3,689		4,415		3,859		4,188		2,041		2,292		1,580
Net income	$	10,675	$	8,012	$	10,142	$	10,380	$	9,490	$	8,331	$	9,437	$	8,847
Net income per share
Basic	$	0.53	$	0.40	$	0.51	$	0.52	$	0.48	$	0.50	$	0.58	$	0.55
Diluted		0.52		0.39		0.50		0.51		0.47		0.48		0.54		0.52