Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Interest income:      
Interest and fees on loans $ 171,302 $ 136,066 $ 118,285
Taxable securities 4,331 4,497 3,888
Nontaxable securities 3,499 3,489 3,407
Federal funds sold 127 159 128
Other interest and dividends 716 514 373
Total interest income 179,975 144,725 126,081
Interest expense:      
Deposits 14,894 12,420 11,830
Borrowed funds 2,810 1,699 1,789
Total interest expense 17,704 14,119 13,619
Net interest income 162,271 130,606 112,462
Provision for loan losses 12,847 10,259 13,008
Net interest income after provision for loan losses 149,424 120,347 99,454
Noninterest income:      
Service charges on deposit accounts 5,088 4,265 3,228
Mortgage banking 2,682 2,047 2,513
Securities gains 29 3 131
Increase in cash surrender value life insurance 2,621 2,280 1,994
Other operating income 3,543 2,634 2,144
Total noninterest income 13,963 11,229 10,010
Noninterest expenses:      
Salaries and employee benefits 38,913 31,017 26,324
Equipment and occupancy expense 6,389 5,547 5,202
Professional services 2,607 2,435 1,809
FDIC and other regulatory assessments 2,660 2,094 1,799
Other real estate owned expense 1,227 1,533 1,426
Merger expense 2,100 0 0
Other operating expenses 20,486 14,972 10,929
Total noninterest expenses 74,382 57,598 47,489
Income before income taxes 89,005 73,978 61,975
Provision for income taxes 25,465 21,601 20,358
Net income 63,540 52,377 41,617
Dividends on preferred stock 280 431 416
Net income available to common stockholders $ 63,260 $ 51,946 $ 41,201
Basic earnings per common share (in dollars per share) $ 2.46 $ 2.18 $ 2
Diluted earnings per common share $ 2.39 $ 2.09 $ 1.9