| SUMMARY OF QUARTERLY FINANCIAL INFORMATION (UNAUDITED) |
| 20. | SUMMARY
OF QUARTERLY FINANCIAL INFORMATION (UNAUDITED) |
The
following tables present a summary of our quarterly financial information for the periods indicated. The year-to-date totals may
differ slightly due to rounding. All unaudited interim financial statements furnished shall reflect all adjustments which are,
in the opinion of management, necessary to a fair statement of the results for interim periods presented and are of a normal and
recurring nature, unless otherwise noted.
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2025 | |
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First Quarter | | |
Second Quarter | | |
Third Quarter | | |
Fourth Quarter | |
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(Dollars in thousands, except per share amounts) | |
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| Interest and dividend income | |
$ | 28,437 | | |
$ | 29,612 | | |
$ | 30,033 | | |
$ | 30,537 | |
| Interest expense | |
| 12,903 | | |
| 11,970 | | |
| 11,941 | | |
| 11,708 | |
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| Net interest and dividend income | |
| 15,534 | | |
| 17,642 | | |
| 18,092 | | |
| 18,829 | |
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| Provision for (reversal of) credit losses | |
| 142 | | |
| (615 | ) | |
| 1,293 | | |
| (485 | ) |
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| Unrealized (loss) gain on marketable equity securities, net | |
| (5 | ) | |
| 25 | | |
| 22 | | |
| (7 | ) |
| Gain on non-marketable equity investments | |
| — | | |
| 243 | | |
| — | | |
| — | |
| Gain on mortgage banking activities | |
| 7 | | |
| 4 | | |
| — | | |
| — | |
| Other non-interest income | |
| 2,757 | | |
| 3,139 | | |
| 3,151 | | |
| 3,180 | |
| Non-interest income | |
| 2,759 | | |
| 3,411 | | |
| 3,173 | | |
| 3,173 | |
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| Non-interest expense | |
| 15,184 | | |
| 15,656 | | |
| 15,778 | | |
| 15,870 | |
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| Income tax provision | |
| 664 | | |
| 1,422 | | |
| 1,027 | | |
| 1,408 | |
| Net income | |
$ | 2,303 | | |
$ | 4,590 | | |
$ | 3,167 | | |
$ | 5,209 | |
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| Basic earnings per share | |
$ | 0.11 | | |
$ | 0.23 | | |
$ | 0.16 | | |
$ | 0.26 | |
| Diluted earnings per share | |
$ | 0.11 | | |
$ | 0.23 | | |
$ | 0.16 | | |
$ | 0.26 | |
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2024 | |
| | |
First Quarter | | |
Second Quarter | | |
Third Quarter | | |
Fourth Quarter | |
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(Dollars in thousands, except per share amounts) | |
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| Interest and dividend income | |
$ | 26,604 | | |
$ | 26,802 | | |
$ | 27,840 | | |
$ | 28,586 | |
| Interest expense | |
| 11,258 | | |
| 12,332 | | |
| 13,112 | | |
| 13,313 | |
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| Net interest and dividend income | |
| 15,346 | | |
| 14,470 | | |
| 14,728 | | |
| 15,273 | |
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| (Reversal of) provision for credit losses | |
| (550 | ) | |
| (294 | ) | |
| 941 | | |
| (762 | ) |
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| Loss on disposal of premises and equipment | |
| (6 | ) | |
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| Unrealized gain (loss) on marketable equity securities, net | |
| 8 | | |
| 4 | | |
| 10 | | |
| (9 | ) |
| Gain on non-marketable equity investments | |
| — | | |
| 987 | | |
| — | | |
| 300 | |
| Gain (loss) on sale of mortgages | |
| — | | |
| — | | |
| 246 | | |
| (11 | ) |
| Other non-interest income | |
| 2,672 | | |
| 2,843 | | |
| 2,885 | | |
| 2,974 | |
| Non-interest income | |
| 2,674 | | |
| 3,834 | | |
| 3,141 | | |
| 3,254 | |
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| Non-interest expense | |
| 14,782 | | |
| 14,314 | | |
| 14,406 | | |
| 14,926 | |
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| Income tax provision | |
| 827 | | |
| 771 | | |
| 618 | | |
| 1,075 | |
| Net income | |
$ | 2,961 | | |
$ | 3,513 | | |
$ | 1,904 | | |
$ | 3,288 | |
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| Basic earnings per share | |
$ | 0.14 | | |
$ | 0.17 | | |
$ | 0.09 | | |
$ | 0.16 | |
| Diluted earnings per share | |
$ | 0.14 | | |
$ | 0.17 | | |
$ | 0.09 | | |
$ | 0.16 | |
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