Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2016

Note 28 – Quarterly Results of Operations (Unaudited)

The following is a summary of the quarterly consolidated results of operations:


Three Months Ended 2016	March 31		June 30		September 30		December 31

Interest income	$	23,528	$	24,650	$	28,962	$	29,390
Interest expense		3,754		3,781		4,552		8,450

Net interest income		19,774		20,869		24,410		20,940
Provision for loan losses		532		232		455		623
Gain on sale of securities		108		767		—		961
Net income		5,381		6,326		6,602		5,603
Net income available to common shareholders	$	5,339	$	6,326	$	6,602	$	5,603

Earnings per share:
Basic	$	0.30	$	0.35	$	0.31	$	0.25
Diluted		0.30		0.34		0.30		0.25

Average shares outstanding:
Basic		17,924,124		18,268,880		21,538,752		22,155,549
Diluted		18,012,726		18,364,167		21,651,953		22,283,722

Three Months Ended 2015	March 31		June 30		September 30		December 31

Interest income	$	20,093	$	21,127	$	23,578	$	23,790
Interest expense		3,207		3,277		3,802		3,568

Net interest income		16,886		17,850		19,776		20,222
Provision for loan losses		614		1,906		300		342
Gain on sale of securities		124		—		—		65
Net income		5,358		4,728		4,288		6,175
Net income available to common shareholders	$	5,327	$	4,697	$	4,257	$	6,144

Earnings per share:
Basic	$	0.39	$	0.34	$	0.25	$	0.34
Diluted		0.37		0.33		0.24		0.34

Average shares outstanding:
Basic		13,824,017		13,860,008		17,408,964		17,905,871
Diluted		14,414,259		14,456,379		17,839,881		18,020,615