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Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)

NOTE 23 — QUARTERLY FINANCIAL DATA (UNAUDITED)

The following presents quarterly financial data for the years ended December 31, 2017 and 2016.

 

 

Year Ended December 31, 2017

 

 

 

Fourth

 

 

Third

 

 

Second

 

 

First

 

(Dollars in thousands)

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

Interest income

 

$

52,217

 

 

$

45,137

 

 

$

43,538

 

 

$

36,332

 

Interest expense

 

 

6,421

 

 

 

5,625

 

 

 

4,981

 

 

 

4,513

 

Net interest income

 

 

45,796

 

 

 

39,512

 

 

 

38,557

 

 

 

31,819

 

Provision for loan losses

 

 

1,931

 

 

 

572

 

 

 

1,447

 

 

 

7,678

 

Net interest income after provision

 

 

43,865

 

 

 

38,940

 

 

 

37,110

 

 

 

24,141

 

Gain on sale of subsidiary

 

 

—

 

 

 

—

 

 

 

—

 

 

 

20,860

 

Other noninterest income

 

 

3,998

 

 

 

4,171

 

 

 

5,202

 

 

 

6,425

 

Noninterest income

 

 

3,998

 

 

 

4,171

 

 

 

5,202

 

 

 

27,285

 

Noninterest expense

 

 

33,231

 

 

 

28,225

 

 

 

27,321

 

 

 

34,837

 

Net income before income taxes

 

 

14,632

 

 

 

14,886

 

 

 

14,991

 

 

 

16,589

 

Income tax expense

 

 

8,327

 

 

 

5,104

 

 

 

5,331

 

 

 

6,116

 

Net income

 

 

6,305

 

 

 

9,782

 

 

 

9,660

 

 

 

10,473

 

Dividends on preferred stock

 

 

(194

)

 

 

(195

)

 

 

(193

)

 

 

(192

)

Net income available to common stockholders

 

$

6,111

 

 

$

9,587

 

 

$

9,467

 

 

$

10,281

 

Earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.29

 

 

$

0.48

 

 

$

0.53

 

 

$

0.57

 

Diluted

 

$

0.29

 

 

$

0.47

 

 

$

0.51

 

 

$

0.55

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2016

 

 

 

Fourth

 

 

Third

 

 

Second

 

 

First

 

(Dollars in thousands)

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

Interest income

 

$

37,774

 

 

$

33,471

 

 

$

28,354

 

 

$

24,893

 

Interest expense

 

 

4,230

 

 

 

3,053

 

 

 

2,447

 

 

 

2,404

 

Net interest income

 

 

33,544

 

 

 

30,418

 

 

 

25,907

 

 

 

22,489

 

Provision for loan losses

 

 

2,446

 

 

 

2,819

 

 

 

1,939

 

 

 

(511

)

Net interest income after provision

 

 

31,098

 

 

 

27,599

 

 

 

23,968

 

 

 

23,000

 

Noninterest income

 

 

6,208

 

 

 

6,099

 

 

 

3,668

 

 

 

4,981

 

Noninterest expense

 

 

26,911

 

 

 

25,792

 

 

 

20,331

 

 

 

20,078

 

Net income before income taxes

 

 

10,395

 

 

 

7,906

 

 

 

7,305

 

 

 

7,903

 

Income tax expense

 

 

4,134

 

 

 

3,099

 

 

 

2,679

 

 

 

2,897

 

Net income

 

 

6,261

 

 

 

4,807

 

 

 

4,626

 

 

 

5,006

 

Dividends on preferred stock

 

 

(197

)

 

 

(301

)

 

 

(195

)

 

 

(194

)

Net income available to common stockholders

 

$

6,064

 

 

$

4,506

 

 

$

4,431

 

 

$

4,812

 

Earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.34

 

 

$

0.25

 

 

$

0.25

 

 

$

0.27

 

Diluted

 

$

0.33

 

 

$

0.25

 

 

$

0.25

 

 

$

0.27