Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2013

Note 23.

Quarterly Financial Data (Unaudited)

The following table presents selected financial data by quarter for the periods indicated:


	Year Ended December 31, 2013
(Amounts in thousands, except share and per share data)	First Quarter		Second Quarter		Third Quarter			Fourth Quarter
(Amounts in thousands, except share and per share data)	First Quarter		Second Quarter		Third Quarter			Fourth Quarter
Interest income	$	28,004	$	27,412	$	26,696		$	27,364
Interest expense		4,642		4,550		4,370			4,272

Net interest income		23,362		22,862		22,326			23,092
Provision for loan losses		1,142		3,205		2,333			1,528

Net interest income after provision for loan losses		22,220		19,657		19,993			21,564
Other income		7,744		6,735		8,150			6,743
Net gain (loss) on sale of securities		117		113		(39	)		208
Other expenses		19,544		18,533		20,153			20,755

Income before income taxes		10,537		7,972		7,951			7,760
Income tax		3,396		2,537		2,539			2,436

Net income		7,141		5,435		5,412			5,324
Dividends on preferred stock		258		253		261			252

Net income available to common shareholders	$	6,883	$	5,182	$	5,151		$	5,072

Basic earnings per common share	$	0.34	$	0.26	$	0.26		$	0.27
Diluted earnings per common share		0.34		0.26		0.26			0.26
Dividend per common share		0.12		0.12		0.12			0.12
Weighted average basic shares outstanding		20,032,694		19,997,991		20,008,861			19,136,317
Weighted average diluted shares outstanding		21,258,490		21,205,078		21,123,788			20,233,737


	Year Ended December 31, 2012
(Amounts in thousands, except share and per share data)	First Quarter		Second Quarter			Third Quarter		Fourth Quarter
Interest income	$	22,682	$	24,182		$	31,536	$	31,256
Interest expense		4,705		4,698			5,077		5,120

Net interest income		17,977		19,484			26,459		26,136
Provision for loan losses		922		1,620			1,916		1,220

Net interest income after provision for loan losses		17,055		17,864			24,543		24,916
Other income		7,940		8,352			10,935		9,000
Net gain (loss) on sale of securities		51		(9	)		228		213
Other expenses		16,193		20,132			20,325		21,733

Income before income taxes		8,853		6,075			15,381		12,396
Income tax		2,852		1,997			5,322		3,957

Net income		6,001		4,078			10,059		8,439
Dividends on preferred stock		283		283			220		272

Net income available to common shareholders	$	5,718	$	3,795		$	9,839	$	8,167

Basic earnings per common share	$	0.32	$	0.20		$	0.49	$	0.41
Diluted earnings per common share		0.31		0.21			0.47		0.40
Dividend per common share		0.10		0.11			0.11		0.11
Weighted average basic shares outstanding		17,849,376		18,561,714			20,013,264		20,063,873
Weighted average diluted shares outstanding		19,158,179		19,872,106			21,329,612		21,314,023

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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