| QUARTERLY FINANCIAL DATA (UNAUDITED) |
NOTE 21 — QUARTERLY FINANCIAL DATA (UNAUDITED)
Summarized quarterly financial data follows:
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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 Amounts) |
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2011:
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Interest and Dividend Income
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$ |
33,875 |
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$ |
32,618 |
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$ |
31,674 |
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$ |
30,640 |
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Interest Expense
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7,766 |
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7,143 |
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6,515 |
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6,206 |
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Net Interest Income Before Provision for Credit Losses
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26,109 |
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25,475 |
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25,159 |
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24,434 |
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Provision for Credit Losses
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— |
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— |
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8,100 |
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4,000 |
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Non-Interest Income
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5,508 |
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6,017 |
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5,978 |
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6,348 |
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Non-Interest Expense
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21,061 |
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22,886 |
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18,852 |
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21,249 |
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Income Before Provision for Income Taxes
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10,556 |
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8,606 |
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4,185 |
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5,533 |
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Provision (Benefit) for Income Taxes
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119 |
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605 |
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(18 |
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27 |
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NET INCOME
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$ |
10,437 |
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$ |
8,001 |
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$ |
4,203 |
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$ |
5,506 |
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EARNINGS (LOSS) PER SHARE:
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Basic
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$ |
0.55 |
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$ |
0.42 |
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$ |
0.22 |
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$ |
0.22 |
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Diluted
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$ |
0.55 |
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$ |
0.42 |
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$ |
0.22 |
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$ |
0.22 |
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2010:
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Interest and Dividend Income
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$ |
38,053 |
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$ |
36,171 |
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$ |
35,675 |
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$ |
34,613 |
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Interest Expense
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10,719 |
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9,875 |
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9,402 |
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8,642 |
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Net Interest Income Before Provision for Credit Losses
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27,334 |
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26,296 |
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26,273 |
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25,971 |
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Provision for Credit Losses
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57,996 |
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37,500 |
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22,000 |
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5,000 |
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Non-Interest Income
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7,005 |
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6,677 |
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5,671 |
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6,053 |
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Non-Interest Expense
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26,224 |
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24,766 |
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24,079 |
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21,735 |
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Income (Loss) Before Provision (Benefit) for Income Taxes
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(49,881 |
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(29,293 |
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(14,135 |
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5,289 |
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Provision (Benefit) for Income Taxes
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(395 |
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(36 |
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442 |
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(23 |
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NET INCOME (LOSS)
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$ |
(49,486 |
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$ |
(29,257 |
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$ |
(14,577 |
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$ |
5,312 |
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EARNINGS (LOSS) PER SHARE:
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Basic
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$ |
(7.76 |
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$ |
(4.59 |
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$ |
(0.95 |
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$ |
0.28 |
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Diluted
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$ |
(7.76 |
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$ |
(4.59 |
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$ |
(0.95 |
) |
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$ |
0.28 |
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