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Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Results of Operations (unaudited)

Schedule of quarterly results of operations (unaudited)

The following table reports quarterly results of operations (unaudited) for 2019, 2018 and 2017:


		2019
(dollars in thousands except per share data)		Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Total interest income		$	107,183		$	109,034		$	108,279		$	105,134
Total interest expense			26,473			28,045			26,950			24,117
Net interest income			80,710			80,989			81,329			81,017
Provision for credit losses			2,945			3,186			3,600			3,360
Net interest income after provision for credit losses			77,765			77,803			77,729			77,657
Noninterest income			6,734			6,314			6,360			6,291
Noninterest expense			34,726			33,473			33,359			38,304
Income before income tax expense			49,773			50,644			50,730			45,644
Income tax expense			14,317			14,149			13,487			11,895
Net income			35,456			36,495			37,243			33,749
Net income available to common shareholders		$	35,456		$	36,495		$	37,243		$	33,749
Earnings per common share
Basic (1)		$	1.06		$	1.07		$	1.08		$	0.98
Diluted (1)		$	1.06		$	1.07		$	1.08		$	0.98


		2018
(dollars in thousands except per share data)		Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Total interest income		$	105,581		$	102,360		$	96,296		$	89,049
Total interest expense			23,869			21,069			18,086			13,269
Net interest income			81,712			81,291			78,210			75,780
Provision for credit losses			2,600			2,441			1,650			1,969
Net interest income after provision for credit losses			79,112			78,850			76,560			73,811
Noninterest income			6,089			5,640			5,553			5,304
Noninterest expense			31,687			31,614			32,289			31,121
Income before income tax expense			53,514			52,876			49,824			47,994
Income tax expense			13,197			13,928			12,528			12,279
Net income			40,317			38,948			37,296			35,715
Net income available to common shareholders		$	40,317		$	38,948		$	37,296		$	35,715
Earnings per common share
Basic (1)		$	1.17		$	1.14		$	1.09		$	1.04
Diluted (1)		$	1.17		$	1.13		$	1.08		$	1.04


		2017
(dollars in thousands except per share data)		Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Total interest income		$	86,526		$	82,370		$	79,344		$	75,794
Total interest expense			11,167			10,434			9,646			8,900
Net interest income			75,359			71,936			69,698			66,894
Provision for credit losses			4,087			1,921			1,566			1,397
Net interest income after provision for credit losses			71,272			70,015			68,132			65,497
Noninterest income			9,496			6,784			7,023			6,070
Noninterest expense			29,803			29,516			30,001			29,232
Income before income tax expense			50,965			47,283			45,154			42,335
Income tax expense			35,396			17,409			17,382			15,318
Net income			15,569			29,874			27,772			27,017
Net income available to common shareholders		$	15,569		$	29,874		$	27,772		$	27,017
Earnings per common share
Basic (1)		$	0.46		$	0.87		$	0.81		$	0.79
Diluted (1)		$	0.45		$	0.87		$	0.81		$	0.79