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Note 23 - Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Quarterly Financial Information [Text Block] | Note 2 3 . Quarterly Financial Data (Unaudited) The following tables present selected financial data for the periods indicated:
|  | Year Ended December 31, 2019 |
|  | First |  |  | Second |  |  | Third |  |  | Fourth |
|  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |
(Amounts in thousands, except share and per share data) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 23,611 |  |  | $ | 24,382 |  |  | $ | 23,605 |  |  | $ | 23,370 |
Interest expense |  |  | 1,425 |  |  |  | 1,393 |  |  |  | 1,384 |  |  |  | 1,313 |
Net interest income |  |  | 22,186 |  |  |  | 22,989 |  |  |  | 22,221 |  |  |  | 22,057 |
Provision for loan losses |  |  | 1,220 |  |  |  | 1,585 |  |  |  | 675 |  |  |  | 91 |
Net interest income after provision |  |  | 20,966 |  |  |  | 21,404 |  |  |  | 21,546 |  |  |  | 21,966 |
Noninterest income, excluding net loss on sale of securities |  |  | 8,080 |  |  |  | 8,692 |  |  |  | 7,634 |  |  |  | 9,314 |
Net loss on sale of securities |  |  | - |  |  |  | (43 | ) |  |  | - |  |  |  | - |
Noninterest expense |  |  | 16,785 |  |  |  | 16,651 |  |  |  | 17,444 |  |  |  | 18,883 |
Income before income taxes |  |  | 12,261 |  |  |  | 13,402 |  |  |  | 11,736 |  |  |  | 12,397 |
Income tax expense |  |  | 2,630 |  |  |  | 2,951 |  |  |  | 2,580 |  |  |  | 2,833 |
Net income |  | $ | 9,631 |  |  | $ | 10,451 |  |  | $ | 9,156 |  |  | $ | 9,564 |
Basic earnings per common share |  | $ | 0.61 |  |  | $ | 0.67 |  |  | $ | 0.59 |  |  | $ | 0.61 |
Diluted earnings per common share |  |  | 0.60 |  |  |  | 0.66 |  |  |  | 0.58 |  |  |  | 0.61 |
Dividends per common share |  |  | 0.21 |  |  |  | 0.25 |  |  |  | 0.25 |  |  |  | 0.25 |
Weighted average basic shares outstanding |  |  | 15,839,424 |  |  |  | 15,712,204 |  |  |  | 15,603,992 |  |  |  | 15,611,093 |
Weighted average diluted shares outstanding |  |  | 15,920,950 |  |  |  | 15,775,320 |  |  |  | 15,664,587 |  |  |  | 15,670,047 |
|  | Year Ended December 31, 2018 |
|  | First |  |  | Second |  |  | Third |  |  | Fourth |
|  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |
(Amounts in thousands, except share and per share data) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 24,330 |  |  | $ | 24,297 |  |  | $ | 24,286 |  |  | $ | 25,381 |
Interest expense |  |  | 1,951 |  |  |  | 2,035 |  |  |  | 1,961 |  |  |  | 1,502 |
Net interest income |  |  | 22,379 |  |  |  | 22,262 |  |  |  | 22,325 |  |  |  | 23,879 |
Provision for loan losses |  |  | 495 |  |  |  | 495 |  |  |  | 495 |  |  |  | 908 |
Net interest income after provision |  |  | 21,884 |  |  |  | 21,767 |  |  |  | 21,830 |  |  |  | 22,971 |
Noninterest income, excluding net loss on sale of securities |  |  | 6,668 |  |  |  | 6,959 |  |  |  | 7,137 |  |  |  | 6,297 |
Net loss on sale of securities |  |  | - |  |  |  | - |  |  |  | (618 | ) |  |  | - |
Noninterest expense |  |  | 17,116 |  |  |  | 17,160 |  |  |  | 18,131 |  |  |  | 17,366 |
Income before income taxes |  |  | 11,436 |  |  |  | 11,566 |  |  |  | 10,218 |  |  |  | 11,902 |
Income tax expense |  |  | 2,568 |  |  |  | 2,500 |  |  |  | 1,118 |  |  |  | 2,596 |
Net income |  | $ | 8,868 |  |  | $ | 9,066 |  |  | $ | 9,100 |  |  | $ | 9,306 |
Basic earnings per common share |  | $ | 0.52 |  |  | $ | 0.54 |  |  | $ | 0.55 |  |  | $ | 0.58 |
Diluted earnings per common share |  |  | 0.52 |  |  |  | 0.54 |  |  |  | 0.55 |  |  |  | 0.57 |
Dividends per common share |  |  | 0.66 |  |  |  | 0.18 |  |  |  | 0.21 |  |  |  | 0.21 |
Weighted average basic shares outstanding |  |  | 16,955,758 |  |  |  | 16,689,398 |  |  |  | 16,512,823 |  |  |  | 16,201,148 |
Weighted average diluted shares outstanding |  |  | 17,047,638 |  |  |  | 16,788,615 |  |  |  | 16,612,416 |  |  |  | 16,280,404 |
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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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