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Note 23 - Quarterly Results of Operations (Unaudited) | 12 Months Ended
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Dec. 31, 2020
Notes to Financial Statements |
Quarterly Financial Information [Text Block] |
23. | Quarterly Results of Operations (Unaudited)
The following table sets forth selected unaudited quarterly financial data:
|  | Summary of Operations |
|  | 2020 |  |  | 2019 |
|  | Fourth |  |  | Third |  |  | Second |  |  | First |  |  | Fourth |  |  | Third |  |  | Second |  |  | First |
|  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |
|  | (In thousands, except per share data) |
Interest income |  | $ | 167,596 |  |  | $ | 172,234 |  |  | $ | 174,008 |  |  | $ | 186,736 |  |  | $ | 191,226 |  |  | $ | 197,831 |  |  | $ | 192,449 |  |  | $ | 187,761 |
Interest expense |  |  | 27,776 |  |  |  | 34,730 |  |  |  | 39,533 |  |  |  | 46,425 |  |  |  | 50,015 |  |  |  | 50,831 |  |  |  | 49,070 |  |  |  | 44,445 |
Net interest income |  |  | 139,820 |  |  |  | 137,504 |  |  |  | 134,475 |  |  |  | 140,311 |  |  |  | 141,211 |  |  |  | 147,000 |  |  |  | 143,379 |  |  |  | 143,316 |
(Reversal)/provision for credit losses |  |  | (5,000 | ) |  |  | 12,500 |  |  |  | 25,000 |  |  |  | 25,000 |  |  |  | (5,000 | ) |  |  | (2,000 | ) |  |  | — |  |  |  | — |
Net-interest income after reversal for loan losses |  |  | 144,820 |  |  |  | 125,004 |  |  |  | 109,475 |  |  |  | 115,311 |  |  |  | 146,211 |  |  |  | 149,000 |  |  |  | 143,379 |  |  |  | 143,316 |
Non-interest income |  |  | 11,451 |  |  |  | 9,977 |  |  |  | 15,606 |  |  |  | 5,786 |  |  |  | 8,648 |  |  |  | 10,388 |  |  |  | 12,794 |  |  |  | 12,921 |
Non-interest expense |  |  | 75,046 |  |  |  | 75,997 |  |  |  | 67,268 |  |  |  | 65,154 |  |  |  | 71,192 |  |  |  | 65,580 |  |  |  | 69,546 |  |  |  | 70,970 |
Income before income tax expense |  |  | 81,225 |  |  |  | 58,984 |  |  |  | 57,813 |  |  |  | 55,943 |  |  |  | 83,667 |  |  |  | 93,808 |  |  |  | 86,627 |  |  |  | 85,267 |
Income tax expense |  |  | 10,332 |  |  |  | 2,190 |  |  |  | 3,492 |  |  |  | 9,091 |  |  |  | 16,290 |  |  |  | 20,973 |  |  |  | 14,383 |  |  |  | 18,588 |
Net income |  | $ | 70,893 |  |  | $ | 56,794 |  |  | $ | 54,321 |  |  | $ | 46,852 |  |  | $ | 67,377 |  |  | $ | 72,835 |  |  | $ | 72,244 |  |  | $ | 66,679 |
Net income per common share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.89 |  |  | $ | 0.71 |  |  | $ | 0.68 |  |  | $ | 0.59 |  |  | $ | 0.85 |  |  | $ | 0.91 |  |  | $ | 0.90 |  |  | $ | 0.83 |
Diluted |  | $ | 0.89 |  |  | $ | 0.71 |  |  | $ | 0.68 |  |  | $ | 0.59 |  |  | $ | 0.84 |  |  | $ | 0.91 |  |  | $ | 0.90 |  |  | $ | 0.83 |

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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