XML 49 R30.htm IDEA: XBRL DOCUMENT

Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

Quarterly Results of Operations (Unaudited)

The following table presents a summary of the quarterly results of operations for the year ended:



		December 31,
		2018																2017
		First Quarter				Second Quarter				Third Quarter				Fourth Quarter				First Quarter				Second Quarter				Third Quarter				Fourth Quarter⁽¹⁾
Interest income		$	35,278			$	37,089			$	38,557			$	40,453			$	32,414			$	33,940			$	34,710			$	35,040
Interest expense		6,376				7,608				8,134				8,866				4,559				5,314				5,550				5,381
Net interest income		28,902				29,481				30,423				31,587				27,855				28,626				29,160				29,659
(Credit) provision for credit losses		(497		)		983				354				7				579				1,401				817				238
Non-interest income		8,804				9,501				10,392				9,479				8,572				9,888				10,299				9,840
Non-interest expense		22,304				22,895				23,166				23,580				21,428				22,158				21,825				23,099
Income before income taxes		15,899				15,104				17,295				17,479				14,420				14,955				16,817				16,162
Income tax expense		3,079				2,887				3,238				3,502				4,344				4,721				5,478				19,335
Net income (loss)		$	12,820			$	12,217			$	14,057			$	13,977			$	10,076			$	10,234			$	11,339			$	(3,173	)
Per common share:
Basic		$	0.82			$	0.78			$	0.90			$	0.90			$	0.65			$	0.66			$	0.72			$	(0.20	)
Diluted		$	0.82			$	0.78			$	0.90			$	0.89			$	0.64			$	0.66			$	0.72			$	(0.20	)


(1)	In the fourth quarter of 2017, the Company recognized $14.3 million of additional income tax expense upon the revaluation of its deferred tax assets and liabilities upon enactment of the Tax Act on December 22, 2017, which lowered the federal corporate tax rate from 35.0% to 21.0%, effective January 1, 2018. The impact to fourth quarter 2017 basic and diluted EPS was $0.91 per share.