QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

17.

QUARTERLY FINANCIAL DATA (UNAUDITED)

The following table presents the Company’s quarterly financial data for the years ended December 31, 2015 and 2014 (amounts in thousands, except per share amounts):


	First Quarter 2015		Second Quarter 2015		Third Quarter 2015		Fourth Quarter 2015
Interest Income	$	3,174	$	3,164	$	3,367	$	3,063
Interest expense		184		179		172		165
Net Interest income		2,990		2,985		3,195		2,898

Provision for loan losses		75		50		75		(100	)
Non-interest income		1,164		1,059		1,069		1,309
Non-interest expense		3,558		3,580		3,662		3,644
Income before income taxes		521		414		527		663

Income tax expense		93		66		107		40

Net income		428		348		420		623

Preferred dividends		59		59		59		60

Net income available to common stockholders	$	369	$	289	$	361	$	563

Net income per common share - basic	$	0.17	$	0.13	$	0.16	$	0.26

Net income per common share - diluted	$	0.17	$	0.13	$	0.16	$	0.25

	First Quarter 2014		Second Quarter 2014		Third Quarter 2014			Fourth Quarter 2014

Interest Income	$	3,376	$	3,387	$	3,333		$	3,266
Interest expense		212		211		211			199
Net Interest income		3,164		3,176		3,122			3,067

Provision for loan losses		—		—		—			75
Non-interest income		979		1,017		990			1,454
Non-interest expense		3,644		3,623		3,758			3,927
Income before income taxes		499		570		354			519

Income tax expense (benefit)		83		97		(22	)		(24	)

Net income		416		473		376			543

Preferred dividends		59		59		59			59

Net income available to common stockholders	$	357	$	414	$	317		$	484

Net income per common share - basic	$	0.17	$	0.19	$	0.15		$	0.22

Net income per common share - diluted	$	0.16	$	0.19	$	0.15		$	0.22

CITIZENS BANCSHARES CORP /GA/ 10-K