QUARTERLY RESULTS OF OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2017

Selected quarterly information for the years ended December 31, 2017 and 2016, is as follows:



Dollars in thousands, except per share data	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2017
Interest income	$	10,533	$	10,962	$	15,109	$	15,181
Interest expense	1,067		1,131		1,547		1,688
Net interest income	9,466		9,831		13,562		13,493
Provision for loan losses	—		—		—		—
Net interest income after provision for loan losses	9,466		9,831		13,562		13,493
Net gains on sales of securities	—		—		—		—
Gain on sales of premises and equipment	—		—		—		—
Other income	3,082		3,528		3,930		3,609
Merger related expenses	162		208		4,305		53
Other expenses and provision for income taxes	9,749		10,429		11,275		14,532
Net income	$	2,637	$	2,722	$	1,912	$	2,517
Basic earnings per share	$	0.43	$	0.45	$	0.27	$	0.35
Dividends per share	$	0.20	$	0.20	$	0.20	$	0.20
2016
Interest income	$	9,964	$	10,010	$	10,181	$	10,345
Interest expense	957		980		996		1,001
Net interest income	9,007		9,030		9,185		9,344
Provision for loan losses	—		—		—		—
Net interest income after provision for loan losses	9,007		9,030		9,185		9,344
Net gains on sales of securities	—		—		—		26
Gain on sales of premises and equipment	—		449		—		—
Other income	2,872		3,362		3,301		3,198
Proposed merger expenses	—		—		—		472
Other expenses and provision for income taxes	9,332		9,859		9,718		9,524
Net income	$	2,547	$	2,982	$	2,768	$	2,572
Basic earnings per share	$	0.42	$	0.49	$	0.46	$	0.43
Dividends per share	$	0.20	$	0.20	$	0.20	$	0.20