Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income:        
Interest and fees on loans $ 49,210 $ 42,105 $ 96,457 $ 80,751
Taxable securities 1,238 1,104 2,507 2,232
Nontaxable securities 834 874 1,692 1,734
Federal funds sold 210 24 283 101
Other interest and dividends 558 102 1,072 174
Total interest income 52,050 44,209 102,011 84,992
Interest expense:        
Deposits 4,633 3,512 8,994 6,782
Borrowed funds 1,526 486 2,947 962
Total interest expense 6,159 3,998 11,941 7,744
Net interest income 45,891 40,211 90,070 77,248
Provision for loan losses 3,800 4,062 5,859 6,467
Net interest income after provision for loan losses 42,091 36,149 84,211 70,781
Noninterest income:        
Service charges on deposit accounts 1,306 1,276 2,613 2,483
Mortgage banking 901 735 1,569 1,189
Securities (losses) gains (3) 0 (3) 29
Increase in cash surrender value life insurance 655 660 1,279 1,308
Other operating income 988 759 1,824 1,355
Total noninterest income 3,847 3,430 7,282 6,364
Noninterest expenses:        
Salaries and employee benefits 10,733 10,426 21,800 19,434
Equipment and occupancy expense 2,023 1,634 4,008 3,295
Professional services 999 665 1,737 1,233
FDIC and other regulatory assessments 803 626 1,553 1,246
OREO expense 41 289 490 503
Merger expense 0 0 0 2,096
Other operating expenses 4,905 4,498 9,206 8,939
Total noninterest expenses 19,504 18,138 38,794 36,746
Income before income taxes 26,434 21,441 52,699 40,399
Provision for income taxes 7,558 6,972 13,867 12,875
Net income 18,876 14,469 38,832 27,524
Preferred stock dividends 23 123 23 223
Net income available to common stockholders $ 18,853 $ 14,346 $ 38,809 $ 27,301
Basic earnings per common share $ 0.72 $ 0.56 $ 1.48 $ 1.07
Diluted earnings per common share $ 0.71 $ 0.54 $ 1.46 $ 1.04