Looking ahead, the Company intends to maintain its capital strength at the current level to support growth and its acquisition activities. Accordingly, future stock buybacks and future dividends will be premised largely on the Company's future earnings power rather than a return of capital to stockholders. As previously announced, it is not currently anticipated that any quarterly dividends will be paid in 2013, with the Company having accelerated 2013 dividends in December 2012, but the Company expects to resume regular quarterly dividends in 2014.Second Quarter 2013 Results of Operations The $1.3 million improvement in reported quarterly earnings for the second quarter of 2013 compared with the year-earlier quarter primarily resulted from the following items:
- Improved net interest income of $6.1 million;
- Decreased provision expense of $423,000; offset by
- Reduced non-interest income of $1.1 million; and
- Increased non-interest expense of $3.9 million.