EXHIBIT 13.3 - Summarized Quarterly Financial Information
First West Virginia Bancorp, Inc.
Summarized Quarterly Financial Information
A summary of selected quarterly financial information follows:
| | | | | | | | | | | | |
| | First | | | Second | | | Third | |
2014 | | Quarter | | | Quarter | | | Quarter | |
Total interest income | | $ | 2,409,324 | | | $ | 2,381,414 | | | $ | 2,424,611 | |
Total interest expense | | | 365,122 | | | | 356,134 | | | | 364,961 | |
Net interest income | | | 2,044,202 | | | | 2,025,280 | | | | 2,059,650 | |
Provision for loan losses | | | — | | | | — | | | | — | |
Investment securities gain | | | 92 | | | | 260,321 | | | | 608,555 | |
Total other income | | | 206,433 | | | | 246,056 | | | | 256,573 | |
Total other expenses | | | 1,910,419 | | | | 2,024,948 | | | | 2,013,489 | |
Income before income taxes | | | 340,308 | | | | 506,709 | | | | 911,289 | |
Net income | | | 446,256 | | | | 537,689 | | | | 773,825 | |
Net income per share | | | 0.26 | | | | 0.31 | | | | 0.45 | |
| | | | | | | | | | | | | | | | |
| | First | | | Second | | | Third | | | Fourth | |
2013 | | Quarter | | | Quarter | | | Quarter | | | Quarter | |
Total interest income | | $ | 2,302,771 | | | $ | 2,357,775 | | | $ | 2,350,742 | | | $ | 2,402,761 | |
Total interest expense | | | 387,202 | | | | 376,418 | | | | 378,401 | | | | 382,417 | |
Net interest income | | | 1,915,569 | | | | 1,981,357 | | | | 1,972,341 | | | | 2,020,344 | |
Provision (credit) for loan losses | | | — | | | | — | | | | — | | | | (400,000 | ) |
Investment securities gain | | | 14 | | | | 2,236 | | | | 674 | | | | 377,073 | |
Total other income | | | 272,251 | | | | 251,921 | | | | 268,995 | | | | 266,717 | |
Total other expenses | | | 1,890,613 | | | | 1,890,553 | | | | 1,947,613 | | | | 1,942,927 | |
Income before income taxes | | | 297,221 | | | | 344,961 | | | | 294,397 | | | | 1,121,207 | |
Net income | | | 381,337 | | | | 414,415 | | | | 390,971 | | | | 1,054,325 | |
Net income per share | | | 0.22 | | | | 0.24 | | | | 0.23 | | | | 0.61 | |
| | | | |
| | First | | | Second | | | Third | | | Fourth | |
2012 | | Quarter | | | Quarter | | | Quarter | | | Quarter | |
Total interest income | | $ | 2,531,454 | | | $ | 2,488,731 | | | $ | 2,455,071 | | | $ | 2,363,310 | |
Total interest expense | | | 488,630 | | | | 457,777 | | | | 430,492 | | | | 412,397 | |
Net interest income | | | 2,042,824 | | | | 2,030,954 | | | | 2,024,579 | | | | 1,950,913 | |
Provision (credit) for loan losses | | | — | | | | — | | | | — | | | | (248,000 | ) |
Investment securities gain | | | — | | | | 342,279 | | | | 1,671 | | | | 746,753 | |
Total other income | | | 307,995 | | | | 316,058 | | | | 304,996 | | | | 331,860 | |
Total other expenses | | | 1,903,102 | | | | 1,929,691 | | | | 1,869,462 | | | | 1,901,904 | |
Income before income taxes | | | 447,717 | | | | 759,600 | | | | 461,784 | | | | 1,375,621 | |
Net income | | | 470,000 | | | | 670,034 | | | | 482,826 | | | | 914,900 | |
Net income per share (1) | | | 0.28 | | | | 0.39 | | | | 0.28 | | | | 0.53 | |
(1) | Adjusted for the 4 percent common stock dividend to stockholders of record as of December 19, 2012. |