| Condensed Quarterly Earnings (unaudited) |
Condensed Quarterly Earnings (unaudited) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2016 | | 2015 | | Fourth
Quarter | | Third Quarter | | Second Quarter | | First Quarter | | Fourth Quarter | | Third Quarter | | Second Quarter | | First Quarter | | (Dollars in Thousands, Except Share Data) | Interest income | $ | 20,321 |
| | $ | 18,898 |
| | $ | 19,555 |
| | $ | 19,343 |
| | $ | 18,600 |
| | $ | 18,135 |
| | $ | 17,520 |
| | $ | 18,216 |
| Interest expense | 3,568 |
| | 3,603 |
| | 3,814 |
| | 3,804 |
| | 3,688 |
| | 3,525 |
| | 3,332 |
| | 3,286 |
| Net interest income | 16,753 |
|
| 15,295 |
|
| 15,741 |
| | 15,539 |
|
| 14,912 |
| | 14,610 |
| | 14,188 |
| | 14,930 |
| Provision for loan and lease losses | 994 |
| | 3,537 |
| | 2,762 |
| | 525 |
| | 1,895 |
| | 287 |
| | 520 |
| | 684 |
| Non-interest income | 3,931 |
| | 3,640 |
| | 5,823 |
| | 4,594 |
| | 4,935 |
| | 4,102 |
| | 4,126 |
| | 3,848 |
| Non-interest expense | 14,523 |
| | 15,753 |
| | 13,458 |
| | 12,699 |
| | 11,684 |
| | 11,984 |
| | 11,974 |
| | 11,732 |
| Income (loss) before income tax expense | 5,167 |
|
| (355 | ) |
| 5,344 |
| | 6,909 |
|
| 6,268 |
| | 6,441 |
| | 5,820 |
| | 6,362 |
| Income tax expense (benefit)(1) | 1,199 |
| | (3,020 | ) | | 1,621 |
| | 2,356 |
| | 2,185 |
| | 2,060 |
| | 1,962 |
| | 2,170 |
| Net income(1) | $ | 3,968 |
|
| $ | 2,665 |
|
| $ | 3,723 |
| | $ | 4,553 |
|
| $ | 4,083 |
| | $ | 4,381 |
| | $ | 3,858 |
| | $ | 4,192 |
| Per common share(2): | | | | | | | | | | | | | | | | Basic earnings(1) | $ | 0.46 |
| | $ | 0.31 |
| | $ | 0.43 |
| | $ | 0.52 |
| | $ | 0.47 |
| | $ | 0.50 |
| | $ | 0.45 |
| | $ | 0.48 |
| Diluted earnings(1) | 0.46 |
| | 0.31 |
| | 0.43 |
| | 0.52 |
| | 0.47 |
| | 0.50 |
| | 0.45 |
| | 0.48 |
| Dividends declared | 0.12 |
| | 0.12 |
| | 0.12 |
| | 0.12 |
| | 0.11 |
| | 0.11 |
| | 0.11 |
| | 0.11 |
|
| | (1) | Results for the third quarter, second quarter and first quarter 2016 have been adjusted to reflect early adoption of ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” See Note 1 for additional details related to the adjustments. |
| | (2) | All per share amounts have been adjusted to reflect the 2-for-1 stock split in the form of a 100% stock dividend completed in August 2015. |
|