Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

v3.8.0.1
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income:        
Interest and fees on loans $ 63,857 $ 51,473 $ 179,325 $ 147,930
Taxable securities 2,288 1,232 6,649 3,739
Nontaxable securities 729 823 2,246 2,515
Federal funds sold 379 347 1,185 630
Other interest and dividends 388 816 1,291 1,888
Total interest income 67,641 54,691 190,696 156,702
Interest expense:        
Deposits 7,574 5,358 19,877 14,352
Borrowed funds 1,671 1,415 4,804 4,362
Total interest expense 9,245 6,773 24,681 18,714
Net interest income 58,396 47,918 166,015 137,988
Provision for loan losses 4,803 3,464 14,170 9,323
Net interest income after provision for loan losses 53,593 44,454 151,845 128,665
Noninterest income:        
Service charges on deposit accounts 1,467 1,367 4,203 3,980
Mortgage banking 978 1,112 2,941 2,681
Credit card income 1,149 1,114 3,517 2,159
Securities losses (3)
Increase in cash surrender value life insurance 825 770 2,334 2,049
Other operating income 371 428 1,146 1,207
Total noninterest income 4,790 4,791 14,141 12,073
Noninterest expenses:        
Salaries and employee benefits 12,428 10,958 36,172 32,758
Equipment and occupancy expense 1,947 2,100 6,452 6,108
Professional services 805 1,182 2,384 2,919
FDIC and other regulatory assessments 810 775 2,888 2,328
OREO expense 31 178 163 668
Other operating expenses 5,476 4,969 16,580 14,175
Total noninterest expenses 21,497 20,162 64,639 58,956
Income before income taxes 36,886 29,083 101,347 81,782
Provision for income taxes 11,627 8,174 29,405 22,041
Net income 25,259 20,909 71,942 59,741
Preferred stock dividends 31 23
Net income available to common stockholders $ 25,259 $ 20,909 $ 71,911 $ 59,718
Basic earnings per common share (in dollars per share) $ 0.48 $ 0.40 $ 1.36 $ 1.14
Diluted earnings per common share (in dollars per share) $ 0.47 $ 0.39 $ 1.33 $ 1.12