| Summary of Quarterly Financial Data |
Summarized quarterly financial data is shown in the following
tables:
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Quarter Ended |
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March 31 |
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June 30 |
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September 30 |
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December 31 |
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(In thousands,
except per share data) |
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2014:
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Interest and dividend income
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$ |
30,367 |
|
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$ |
30,343 |
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|
$ |
34,562 |
|
|
$ |
41,462 |
|
|
Interest expense
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|
3,269 |
|
|
|
3,183 |
|
|
|
3,475 |
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|
4,106 |
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|
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|
|
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|
|
|
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Net interest income before provision for credit losses
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27,098 |
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|
27,160 |
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|
31,087 |
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|
37,356 |
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(Negative) provision for credit losses
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|
(3,300 |
) |
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|
(3,866 |
) |
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— |
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|
1,026 |
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Non-interest income
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|
6,214 |
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|
5,487 |
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|
21,611 |
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|
8,984 |
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Non-interest expense
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17,800 |
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|
18,138 |
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|
25,530 |
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|
37,085 |
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Income before provision for income taxes
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18,812 |
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|
18,375 |
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|
27,168 |
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|
8,229 |
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Provision for income taxes
|
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|
7,844 |
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|
6,866 |
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|
5,368 |
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|
2,301 |
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Net income from continuing operations, net of taxes
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$ |
10,968 |
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$ |
11,509 |
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$ |
21,800 |
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$ |
5,928 |
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Income (loss) from discontinued operations
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|
23 |
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(467 |
) |
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— |
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— |
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Net income
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$ |
10,991 |
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|
$ |
11,042 |
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$ |
21,800 |
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$ |
5,928 |
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Basic earnings per share:
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Income from continuing operations, net of taxes
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$ |
0.34 |
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$ |
0.36 |
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$ |
0.69 |
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$ |
0.19 |
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Loss from discontinued operations, net of taxes
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|
— |
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(0.01 |
) |
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— |
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— |
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Basic earnings per share
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$ |
0.34 |
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$ |
0.35 |
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$ |
0.69 |
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$ |
0.19 |
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Diluted earnings per share:
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Income from continuing operations, net of taxes
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$ |
0.34 |
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$ |
0.36 |
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$ |
0.68 |
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$ |
0.19 |
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Loss from discontinued operations, net of taxes
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|
— |
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(0.01 |
) |
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— |
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— |
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Diluted earnings per share
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$ |
0.34 |
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$ |
0.35 |
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$ |
0.68 |
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$ |
0.19 |
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2013:
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Interest and dividend income
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$ |
28,647 |
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$ |
29,598 |
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$ |
30,807 |
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$ |
30,088 |
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Interest expense
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3,791 |
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|
3,225 |
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|
3,153 |
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|
3,338 |
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Net interest income before provision for credit losses
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24,856 |
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26,373 |
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|
27,654 |
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|
26,750 |
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Provision for credit losses
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|
— |
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— |
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— |
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— |
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Non-interest income
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|
7,568 |
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|
7,103 |
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|
6,464 |
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|
6,765 |
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Non-interest expense
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|
|
17,327 |
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|
18,191 |
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|
17,221 |
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|
18,278 |
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Income before provision for income taxes
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15,097 |
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15,285 |
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|
16,897 |
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|
15,237 |
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Provision for income taxes
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|
4,970 |
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|
5,958 |
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|
6,582 |
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|
5,222 |
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Net income from continuing operations, net of taxes
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$ |
10,127 |
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$ |
9,327 |
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$ |
10,315 |
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$ |
10,015 |
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Loss (income) from discontinued operations
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(72 |
) |
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|
160 |
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|
70 |
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(85 |
) |
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Net income
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$ |
10,055 |
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$ |
9,487 |
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$ |
10,385 |
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$ |
9,930 |
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Basic earnings per share:
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Income from continuing operations, net of taxes
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$ |
0.32 |
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$ |
0.30 |
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$ |
0.33 |
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$ |
0.31 |
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Income from discontinued operations, net of taxes
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|
— |
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|
— |
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— |
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— |
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Basic earnings per share
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$ |
0.32 |
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$ |
0.30 |
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$ |
0.33 |
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$ |
0.31 |
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Diluted earnings per share:
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Income from continuing operations, net of taxes
|
|
$ |
0.33 |
|
|
$ |
0.29 |
|
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$ |
0.33 |
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$ |
0.31 |
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(Loss) income from discontinued operations, net of taxes
|
|
|
(0.01 |
) |
|
|
0.01 |
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— |
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— |
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Diluted earnings per share
|
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$ |
0.32 |
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$ |
0.30 |
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$ |
0.33 |
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$ |
0.31 |
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