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Quarterly Financial Data - Unaudited (Tables)
12 Months Ended
Dec. 31, 2020
Quarterly Financial Data [Abstract]  
Summary of Quarterly Data

The following table presents summarized quarterly data for each of the two years ended December 31, 2020 and 2019 (in thousands):

 

 

 

Quarters ended in 2020

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

Selected operations data:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$

34,741

 

 

$

35,535

 

 

$

36,295

 

 

$

37,570

 

Interest expense

 

 

4,868

 

 

 

3,953

 

 

 

3,778

 

 

 

4,130

 

Net interest income

 

 

29,873

 

 

 

31,582

 

 

 

32,517

 

 

 

33,440

 

Provision for loan losses

 

 

5,481

 

 

 

6,136

 

 

 

3,883

 

 

 

603

 

Net interest income after provision for loan losses

 

 

24,392

 

 

 

25,446

 

 

 

28,634

 

 

 

32,837

 

Other income

 

 

16,510

 

 

 

13,885

 

 

 

13,578

 

 

 

15,547

 

Other expense

 

 

27,731

 

 

 

26,098

 

 

 

26,927

 

 

 

30,331

 

Income before income taxes

 

 

13,171

 

 

 

13,233

 

 

 

15,285

 

 

 

18,053

 

Income taxes

 

 

3,172

 

 

 

3,096

 

 

 

3,720

 

 

 

4,484

 

Net income

 

$

9,999

 

 

$

10,137

 

 

$

11,565

 

 

$

13,569

 

Basic earnings per common share

 

$

0.60

 

 

$

0.61

 

 

$

0.69

 

 

$

0.81

 

Diluted earnings per common share

 

 

0.60

 

 

 

0.60

 

 

 

0.69

 

 

 

0.81

 

 

 

 

Quarters ended in 2019

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

Selected operations data:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$

38,051

 

 

$

37,571

 

 

$

37,578

 

 

$

36,521

 

Interest expense

 

 

5,799

 

 

 

6,258

 

 

 

6,453

 

 

 

5,537

 

Net interest income

 

 

32,252

 

 

 

31,313

 

 

 

31,125

 

 

 

30,984

 

Provision for loan losses

 

 

947

 

 

 

91

 

 

 

2,658

 

 

 

2,737

 

Net interest income after provision for loan losses

 

 

31,305

 

 

 

31,222

 

 

 

28,467

 

 

 

28,247

 

Other income

 

 

14,639

 

 

 

13,588

 

 

 

12,917

 

 

 

14,873

 

Other expense

 

 

28,310

 

 

 

30,187

 

 

 

25,894

 

 

 

27,601

 

Income before income taxes

 

 

17,634

 

 

 

14,623

 

 

 

15,490

 

 

 

15,519

 

Income taxes

 

 

4,318

 

 

 

3,642

 

 

 

3,820

 

 

 

3,543

 

Net income

 

$

13,316

 

 

$

10,981

 

 

$

11,670

 

 

$

11,976

 

Basic earnings per common share

 

$

0.80

 

 

$

0.66

 

 

$

0.70

 

 

$

0.72

 

Diluted earnings per common share

 

 

0.80

 

 

 

0.66

 

 

 

0.70

 

 

 

0.72