QUARTERLY FINANCIAL INFORMATION OF REGISTRANT

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL INFORMATION OF REGISTRANT (UNAUDITED)

QUARTERLY FINANCIAL INFORMATION OF REGISTRANT

(UNAUDITED)

The following tables set forth unaudited consolidated selected quarterly statements of income data for the years ended December 31, 2020 and 2019 (in thousands, except share amounts):

	2020
	Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Summary Income Statement Information:
Interest income	$	56,904	$	55,677	$	58,495	$	60,752
Interest expense	8,197		9,091		11,224		16,051
Net interest income	48,707		46,586		47,271		44,701
Provision for credit losses (1)	(5,545)		(4,746)		5,245		25,247
Net interest income after provision for credit losses	54,252		51,332		42,026		19,454
Noninterest income excluding net gain (loss) on sale of securities	10,924		11,063		9,531		9,957
Net (loss) gain on sale of securities AFS	(24)		78		2,662		5,541
Noninterest expense	31,315		31,616		29,856		30,520
Income before income tax expense	33,837		30,857		24,363		4,432
Income tax expense	4,265		3,783		2,809		479
Net income	$	29,572	$	27,074	$	21,554	$	3,953
Per Share Data:
Earnings per common share – basic	$	0.89	$	0.82	$	0.65	$	0.12
Earnings per common share – diluted	$	0.89	$	0.82	$	0.65	$	0.12
Cash dividends paid per common share	$	0.37	$	0.31	$	0.31	$	0.31
Book value per common share	$	26.56	$	25.37	$	24.75	$	24.11

	2019
	Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Summary Income Statement Information:
Interest income	$	60,533	$	60,555	$	60,672	$	59,027
Interest expense	17,357		18,182		17,541		17,902
Net interest income	43,176		42,373		43,131		41,125
Provision for credit losses (1)	2,508		1,005		2,506		(918)
Net interest income after provision for credit losses	40,668		41,368		40,625		42,043
Noninterest income excluding net gain (loss) on sale of securities	10,423		11,069		10,838		9,282
Net gain (loss) on sale of securities AFS	42		42		416		256
Noninterest expense	30,944		29,026		29,700		29,627
Income before income tax	20,189		23,453		22,179		21,954
Income tax expense	2,854		3,661		3,569		3,137
Net income	$	17,335	$	19,792	$	18,610	$	18,817
Per Share Data:
Earnings per common share – basic	$	0.51	$	0.59	$	0.55	$	0.56
Earnings per common share – diluted	$	0.51	$	0.58	$	0.55	$	0.56
Cash dividends paid per common share	$	0.34	$	0.31	$	0.31	$	0.30
Book value per common share	$	23.79	$	23.98	$	23.34	$	22.48