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QUARTERLY DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2020

NOTE 19. QUARTERLY DATA (UNAUDITED)

Quarterly results of operations were as follows during 2020 and 2019:


	2020
	Fourth		Third		Second		First
(in thousands, except per share data)	Quarter		Quarter		Quarter		Quarter
Interest and dividend income	$	30,700	$	30,475	$	31,435	$	33,494
Interest expense		5,338		5,810		6,845		8,931
Net interest income		25,362		24,665		24,590		24,563
Non-interest income		14,723		10,102		9,710		8,421
Provision for loan losses		1,360		1,800		1,354		1,111
Non-interest expense		27,816		22,419		22,266		22,359
Income before income taxes		10,909		10,548		10,680		9,514
Income tax expense		2,269		2,146		2,199		1,793
Net income	$	8,640	$	8,402	$	8,481	$	7,721

Earnings per share:
Basic	$	0.58	$	0.56	$	0.55	$	0.50
Diluted	$	0.58	$	0.56	$	0.55	$	0.50

Weighted average shares outstanding:
Basic		14,909		15,079		15,424		15,558
Diluted		14,952		15,103		15,441		15,593


	2019
	Fourth		Third		Second		First
(in thousands, except per share data)	Quarter		Quarter		Quarter		Quarter
Interest and dividend income	$	34,117	$	34,262	$	33,785	$	33,227
Interest expense		10,013		11,817		12,289		11,462
Net interest income		24,104		22,445		21,496		21,765
Non-interest income		7,806		7,643		7,453		6,167
Provision for loan losses		538		893		562		324
Non-interest expense		26,803		23,400		20,906		18,624
Income before income taxes		4,569		5,795		7,481		8,984
Income tax expense		362		780		1,364		1,703
Net income	$	4,207	$	5,015	$	6,117	$	7,281

Earnings per share:
Basic	$	0.27	$	0.32	$	0.39	$	0.47
Diluted	$	0.27	$	0.32	$	0.39	$	0.47

Weighted average shares outstanding:
Basic		15,554		15,547		15,538		15,523
Diluted		15,602		15,581		15,586		15,587