Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

v3.7.0.1
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income:        
Interest and fees on loans $ 59,912 $ 49,210 $ 115,468 $ 96,457
Taxable securities 2,274 1,238 4,361 2,507
Nontaxable securities 752 834 1,517 1,692
Federal funds sold 287 210 806 283
Other interest and dividends 313 558 903 1,072
Total interest income 63,538 52,050 123,055 102,011
Interest expense:        
Deposits 6,321 4,633 12,303 8,994
Borrowed funds 1,650 1,526 3,133 2,947
Total interest expense 7,971 6,159 15,436 11,941
Net interest income 55,567 45,891 107,619 90,070
Provision for loan losses 4,381 3,800 9,367 5,859
Net interest income after provision for loan losses 51,186 42,091 98,252 84,211
Noninterest income:        
Service charges on deposit accounts 1,382 1,306 2,736 2,613
Mortgage banking 1,064 901 1,963 1,569
Credit card income 1,189 572 2,368 1,041
Securities (losses) gains (3) (3)
Increase in cash surrender value life insurance 785 655 1,509 1,279
Other operating income 385 416 775 783
Total noninterest income 4,805 3,847 9,351 7,282
Noninterest expenses:        
Salaries and employee benefits 12,031 10,733 23,744 21,800
Equipment and occupancy expense 2,265 2,023 4,505 4,008
Professional services 808 999 1,579 1,737
FDIC and other regulatory assessments 1,081 803 2,078 1,553
OREO expense 56 41 132 490
Other operating expenses 5,634 4,905 11,104 9,206
Total noninterest expenses 21,875 19,504 43,142 38,794
Income before income taxes 34,116 26,434 64,461 52,699
Provision for income taxes 9,952 7,558 17,778 13,867
Net income 24,164 18,876 46,683 38,832
Preferred stock dividends 31 23 31 23
Net income available to common stockholders $ 24,133 $ 18,853 $ 46,652 $ 38,809
Basic earnings per common share (in dollars per share) $ 0.46 $ 0.36 $ 0.88 $ 0.74
Diluted earnings per common share (in dollars per share) $ 0.45 $ 0.36 $ 0.86 $ 0.73