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Summarized Quarterly Financial Information (Unaudited)
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Summarized Quarterly Financial Information (Unaudited)
SUMMARIZED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

A summary of selected quarterly financial information is presented below (in thousands, except for per share data):
 
 
First Quarter
Second Quarter
Third Quarter
Fourth Quarter
 
 
 
 
 
2013
 
 
 
 
Interest income
$
33,026

$
34,724

$
35,674

$
35,115

Taxable equivalent adjustment
174

167

161

158

Interest income (FTE)
33,200

34,891

35,835

35,273

Interest expense
3,455

3,427

3,304

3,115

Net interest income
29,745

31,464

32,531

32,158

Provision for loan losses
1,738

2,011

1,154

1,945

Investment securities gains
84

9

—

671

Noninterest income
14,242

14,243

14,480

14,277

Noninterest expense
29,403

23,959

24,665

24,879

Income  before income tax expense
12,930

19,746

21,192

20,282

Income tax expense
4,769

6,573

7,056

6,877

Taxable equivalent adjustment
174

167

161

158

Net income
$
7,987

$
13,006

$
13,975

$
13,247

 
 
 
 
 
Net earnings available to common  shareholders
$
7,922

$
12,890

$
13,848

$
13,127

 
 
 
 
 
Basic earnings  per common share
$
0.51

$
0.83

$
0.89

$
0.84

Diluted earnings per common share
0.51

0.82

0.88

0.83

Average common shares outstanding:
 
 
 
 
Basic
15,473

15,582

15,608

15,636

Diluted
15,627

15,752

15,790

15,799

 
 
 
 
 
2012
 
 
 
 
Interest income
$
27,430

$
27,466

$
28,432

$
28,884

Taxable equivalent adjustment
208

198

185

183

Interest income (FTE)
27,638

27,664

28,617

29,067

Interest expense
3,908

3,625

3,557

3,360

Net interest income
23,730

24,039

25,060

25,707

Provision for loan losses
1,950

1,675

975

1,775

Investment securities losses
(31
)
528

458

—

Noninterest income
13,149

13,262

13,621

14,266

Noninterest expense
19,515

24,763

21,846

21,273

Income  before income tax expense
15,383

11,391

16,318

16,925

Income tax expense
5,144

3,780

5,526

5,848

Taxable equivalent adjustment
208

198

185

183

Net income
$
10,031

$
7,413

$
10,607

$
10,894

 
 
 
 
 
Net earnings available to common  shareholders
$
9,955

$
7,354

$
10,523

$
10,809

 
 
 
 
 
Basic earnings  per common share
$
0.68

$
0.50

$
0.71

$
0.73

Diluted earnings per common share
0.67

0.50

0.71

0.73

Average common shares outstanding:
 
 
 
 
Basic
14,679

14,680

14,751

14,755

Diluted
14,759

14,759

14,834

14,837


 
Subsequent to the Company's fourth quarter 2013 earnings release (which was released on January 28, 2014), the Company entered into a settlement agreement in the amount of $0.7 million on February 14, 2014. The Company accrued for this settlement as of December 31, 2013.