Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME

v3.4.0.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Interest income:    
Interest and fees on loans $ 47,247 $ 38,646
Taxable securities 1,269 1,128
Nontaxable securities 858 860
Federal funds sold 73 77
Other interest and dividends 514 72
Total interest income 49,961 40,783
Interest expense:    
Deposits 4,361 3,270
Borrowed funds 1,421 476
Total interest expense 5,782 3,746
Net interest income 44,179 37,037
Provision for loan losses 2,059 2,405
Net interest income after provision for loan losses 42,120 34,632
Noninterest income:    
Service charges on deposit accounts 1,307 1,207
Mortgage banking 668 454
Securities gains 0 29
Increase in cash surrender value of life insurance 624 648
Other operating income 1,127 739
Total noninterest income 3,726 3,077
Noninterest expense:    
Salaries and employee benefits 11,067 9,008
Equipment and occupancy expense 1,985 1,661
Professional services 738 568
FDIC and other regulatory assessments 750 620
OREO expense 449 214
Merger expense 0 2,096
Other operating expense 4,592 4,584
Total noninterest expense 19,581 18,751
Income before income taxes 26,265 18,958
Provision for income taxes 8,616 5,903
Net income 17,649 13,055
Preferred stock dividends 0 100
Net income available to common stockholders $ 17,649 $ 12,955
Basic earnings per common share $ 0.68 $ 0.51
Diluted earnings per common share $ 0.66 $ 0.49