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SUMMARY OF QUARTERLY RESULTS
 12 Months Ended
Dec. 31, 2015
SUMMARY OF QUARTERLY RESULTS (UNAUDITED) [Abstract]  
SUMMARY OF QUARTERLY RESULTS (UNAUDITED)

NOTE 25. SUMMARY OF QUARTERLY RESULTS (UNAUDITED)

The following summarizes the consolidated results of operations during 2015 and 2014, on a quarterly basis, for the Company:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   

 

For the year ended December 31, 2015

(In thousands, except per share data)

  

 

Fourth Quarter

  

 

Third Quarter

  

 

Second Quarter

  

 

First    Quarter

Interest income

 

$
7,844

 

$
7,798

 

$
7,071

 

$
7,280

Interest expense

 

 
1,686

 

 
1,636

 

 
1,591

 

 
1,571

Net interest income

 

 
6,158

 

 
6,162

 

 
5,480

 

 
5,709

Provision (credit) for loan and lease losses

 

 
634

 

 
(216)

 

 
(586)

 

 
(580)

Net interest income after provision

 

 
5,524

 

 
6,378

 

 
6,066

 

 
6,289

Other income

 

 
1,202

 

 
700

 

 
1,283

 

 
847

Other expenses

 

 
5,427

 

 
5,365

 

 
5,737

 

 
5,375

Income before income tax

 

 
1,299

 

 
1,713

 

 
1,612

 

 
1,761

Income tax benefit

 

 
(5,139)

 

 

 -

 

 

 -

 

 

 -

Net income

 

$
6,438

 

$
1,713

 

$
1,612

 

$
1,761

Less net income attributable to noncontrolling interest

 

 
31

 

 
179

 

 
151

 

 
170

Net income attributable to Royal Bancshares of Pennsylvania, Inc.

 

$
6,407

 

$
1,534

 

$
1,461

 

$
1,591

Net income available to common shareholders

 

$
5,973

 

$
1,100

 

$
1,032

 

$
1,167

Net income per common share

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

$
0.20

 

$
0.04

 

$
0.03

 

$
0.04

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   

 

 

For the year ended December 31, 2014

(In thousands, except per share data)

  

 

Fourth Quarter

  

 

Third Quarter

  

 

Second Quarter

  

 

First    Quarter

Interest income

 

$
7,233

 

$
7,191

 

$
7,209

 

$
7,151

Interest expense

 

 
1,614

 

 
1,623

 

 
1,622

 

 
1,625

Net interest income

 

 
5,619

 

 
5,568

 

 
5,587

 

 
5,526

Credit for loan and lease losses

 

 
(102)

 

 
(51)

 

 
(75)

 

 
(639)

Net interest income after provision

 

 
5,721

 

 
5,619

 

 
5,662

 

 
6,165

Other income

 

 
743

 

 
1,204

 

 
816

 

 
772

Other expenses

 

 
6,136

 

 
5,375

 

 
5,031

 

 
5,322

Income before income tax

 

 
328

 

 
1,448

 

 
1,447

 

 
1,615

Income tax benefit

 

 
(654)

 

 

 -

 

 

 -

 

 

 -

Net income

 

$
982

 

$
1,448

 

$
1,447

 

$
1,615

Less net income attributable to noncontrolling interest

 

 
171

 

 
25

 

 
69

 

 
117

Net income attributable to Royal Bancshares of Pennsylvania, Inc.

 

$
811

 

$
1,423

 

$
1,378

 

$
1,498

Net income available to common shareholders

 

$
378

 

$
1,271

 

$
549

 

$
834

Net income per common share

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

$
0.01

 

$
0.05

 

$
0.04

 

$
0.06

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The sum of the 2014 quarterly amounts for basic and diluted earnings per share do not equal the total earnings per share for 2014 due to 16.7 million shares of common stock issued in the third quarter of 2014.