Note 20 - Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Quarterly Financial Information [Text Block]

20. Quarterly Financial Data (unaudited)

The following represents summarized unaudited quarterly financial data of the Company for each of the quarters ended during 2021 and 2020.

Summary of Selected Quarterly Consolidated Financial Data

(dollars in thousands, except per share data)

	For the Quarter Ended
	December 31st		September 30th			June 30th		March 31st
2021
Interest income	$	40,251	$	35,778		$	35,354	$	36,420
Interest expense		4,552		4,336			4,715		4,988
Net interest income		35,699		31,442			30,639		31,432
Provision for loan losses		1,850		900			-		3,000
Non-interest income		7,473		7,317			7,680		10,275
Non-interest expense		32,865		29,775			30,519		29,347
Provision (benefit) for income taxes		2,379		1,988			1,866		2,292
Net income (loss)	$	6,078	$	6,096		$	5,934	$	7,068
Preferred stock dividends		875		875			875		875
Net income available to common shareholders	$	5,203	$	5,221		$	5,059	$	6,193
Net income (loss) per share(1):
Basic	$	0.09	$	0.09		$	0.09	$	0.11
Diluted	$	0.08	$	0.08		$	0.08	$	0.09
2020
Interest income	$	31,248	$	28,560		$	27,859	$	27,283
Interest expense		5,527		5,630			5,432		6,529
Net interest income		25,721		22,930			22,427		20,754
Provision for loan losses		1,400		850			1,000		950
Non-interest income		11,235		10,031			8,424		6,545
Non-interest expense		29,907		33,580			26,664		27,272
Provision (benefit) for income taxes		1,548		(503	)		675		(330	)
Net income (loss)	$	4,101	$	(967	)	$	2,512	$	(593	)
Preferred stock dividends		923		-			-		-
Net income available to common shareholders	$	3,178	$	(967	)	$	2,512	$	(593	)
Net income (loss) per share(1):
Basic	$	0.05	$	(0.02	)	$	0.04	$	(0.01	)
Diluted	$	0.05	$	(0.02	)	$	0.04	$	(0.01	)

(1) Quarterly net income per share does not add to full year net income per share due to rounding.