Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2014

Note 23. Quarterly Financial Data (Unaudited)

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


	Year Ended December 31, 2014
(Amounts in thousands, except share and per share data)	First Quarter		Second Quarter			Third Quarter			Fourth Quarter
Interest income	$	26,083	$	26,093		$	25,751		$	28,181
Interest expense		4,058		4,025			3,736			3,471

Net interest income		22,025		22,068			22,015			24,710
Provision for (recovery of) loan losses		1,793		1,279			(2,439	)		(488	)

Net interest income after provision for loan losses		20,232		20,789			24,454			25,198
Other income		7,189		7,663			7,347			9,189
Net gain (loss) on sale of securities		45		(59	)		320			(1,691	)
Other expenses		19,180		18,163			21,469			24,050

Income before income taxes		8,286		10,230			10,652			8,646
Income tax		2,561		3,223			3,609			2,931

Net income		5,725		7,007			7,043			5,715
Dividends on preferred stock		228		227			228			227

Net income available to common shareholders	$	5,497	$	6,780		$	6,815		$	5,488

Basic earnings per common share	$	0.30	$	0.37		$	0.37		$	0.30
Diluted earnings per common share		0.29		0.36			0.36			0.29
Dividend per common share		0.12		0.12			0.13			0.13
Weighted average basic shares outstanding		18,423,123		18,395,996			18,402,764			18,403,959
Weighted average diluted shares outstanding		19,506,647		19,457,237			19,466,126			19,482,000


	Year Ended December 31, 2013
(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

- 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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