Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Interest income:    
Interest and fees on loans $ 55,556 $ 47,247
Taxable securities 2,087 1,269
Nontaxable securities 765 858
Federal funds sold 519 73
Other interest and dividends 590 514
Total interest income 59,517 49,961
Interest expense:    
Deposits 5,982 4,361
Borrowed funds 1,483 1,421
Total interest expense 7,465 5,782
Net interest income 52,052 44,179
Provision for loan losses 4,986 2,059
Net interest income after provision for loan losses 47,066 42,120
Noninterest income:    
Service charges on deposit accounts 1,354 1,307
Mortgage banking 899 668
Increase in cash surrender value life insurance 724 624
Other operating income 1,569 836
Total noninterest income 4,546 3,435
Salaries and employee benefits 11,713 11,067
Equipment and occupancy expense 2,250 1,985
Professional services 771 738
FDIC and other regulatory assessments 997 750
Other real estate owned expense 76 449
Other operating expenses 5,460 4,301
Total non-interest expenses 21,267 19,290
Income before income taxes 30,345 26,265
Provision for income taxes 7,826 6,309
Net income 22,519 19,956
Dividends on preferred stock
Net income available to common stockholders $ 22,519 $ 19,956
Basic earnings per common share (in dollars per share) $ 0.43 $ 0.38
Diluted earnings per common share (in dollars per share) $ 0.42 $ 0.38