Annual report pursuant to Section 13 and 15(d)

QUARTERLY FINANCIAL DATA (Unaudited)

v3.3.1.900
QUARTERLY FINANCIAL DATA (Unaudited)
 12 Months Ended
Dec. 31, 2015
QUARTERLY FINANCIAL DATA (Unaudited) [Abstract]  
QUARTERLY FINANCIAL DATA (Unaudited)
NOTE 19 – QUARTERLY FINANCIAL DATA (Unaudited)

(Dollars in thousands except per share data)

           
Earnings Per Common Share
  
   
Interest Income
    
Net Interest
Income
    
Provision for
Loan Losses
    
Net Income
    
Basic
    
Diluted
  
2015
                        
First quarter
  
$
12,011
    
$
10,652
    
$
(1,000
)
  
$
2,840
    
$
0.08
    
$
0.08
  
Second quarter
    
12,238
      
10,845
      
(500
)
    
3,215
      
0.09
      
0.09
  
Third quarter
    
12,427
      
11,121
      
(250
)
    
3,201
      
0.09
      
0.09
  
Fourth quarter
    
12,709
      
11,461
      
(1,750
)
    
3,538
      
0.10
      
0.10
  
                                                 
2014
                                                
First quarter
  
$
11,970
    
$
10,475
    
$
(1,000
)
  
$
2,639
    
$
0.08
    
$
0.08
  
Second quarter
    
11,528
      
10,156
      
(1,000
)
    
2,755
      
0.08
      
0.08
  
Third quarter
    
11,674
      
10,304
      
(750
)
    
2,762
      
0.08
      
0.08
  
Fourth quarter
    
11,816
      
10,457
      
(600
)
    
2,317
      
0.07
      
0.07
  

Net income and provision for loan losses for the fourth quarter of 2015 are positively impacted by the reduction in the specific reserve on an impaired loan which was upgraded in the fourth quarter of 2015.

Net income for the fourth quarter of 2014 includes $516,000 expense associated with a legal settlement discussed in Note 16.