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Quarterly Financial Data - Unaudited (Tables)
12 Months Ended
Dec. 31, 2021
Quarterly Financial Data [Abstract]  
Summary of Quarterly Data

The following table presents summarized quarterly data for each of the two years ended December 31, 2021 and 2020 (in thousands):

 

 

 

Quarters ended in 2021

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

Selected operations data:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$

40,816

 

 

$

46,635

 

 

$

49,263

 

 

$

46,299

 

Interest expense

 

 

4,052

 

 

 

3,888

 

 

 

3,767

 

 

 

3,555

 

Net interest income

 

 

36,764

 

 

 

42,747

 

 

 

45,496

 

 

 

42,744

 

Provision for loan losses

 

 

12,136

 

 

 

(560

)

 

 

1,103

 

 

 

2,472

 

Net interest income after provision for loan losses

 

 

24,628

 

 

 

43,307

 

 

 

44,393

 

 

 

40,272

 

Other income

 

 

17,749

 

 

 

17,535

 

 

 

16,359

 

 

 

18,124

 

Other expense

 

 

37,600

 

 

 

45,264

 

 

 

36,321

 

 

 

36,394

 

Income before income taxes

 

 

4,777

 

 

 

15,578

 

 

 

24,431

 

 

 

22,002

 

Income taxes

 

 

668

 

 

 

3,357

 

 

 

6,105

 

 

 

5,168

 

Net income

 

$

4,109

 

 

$

12,221

 

 

$

18,326

 

 

$

16,834

 

Basic earnings per common share

 

$

0.24

 

 

$

0.68

 

 

$

1.01

 

 

$

0.93

 

Diluted earnings per common share

 

 

0.24

 

 

 

0.68

 

 

 

1.01

 

 

 

0.93

 

 

 

 

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