Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

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Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Income:      
Interest and fees on loans $ 246,682 $ 200,463 $ 171,302
Taxable securities 9,117 5,343 4,331
Nontaxable securities 2,948 3,300 3,499
Federal funds sold 1,693 1,007 127
Other interest and dividends 2,316 2,789 716
Total interest income 262,756 212,902 179,975
Interest expense:      
Deposits 28,831 20,169 14,894
Borrowed funds 6,502 5,636 2,810
Total interest expense 35,333 25,805 17,704
Net interest income 227,423 187,097 162,271
Provision for loan losses 23,225 13,398 12,847
Net interest income after provision for loan losses 204,198 173,699 149,424
Noninterest income:      
Service charges on deposit accounts 5,702 5,355 5,088
Mortgage banking 3,835 3,725 2,682
Credit card income 4,815 3,207 2,073
Securities (losses) gains (3) 29
Increase in cash surrender value life insurance 3,131 2,794 2,621
Other operating income 1,563 3,034 1,084
Total noninterest income 19,046 18,112 13,577
Noninterest expenses:      
Salaries and employee benefits 47,604 43,955 38,913
Equipment and occupancy expense 8,018 7,985 6,389
Professional services 3,217 3,977 2,607
FDIC and other regulatory assessments 3,918 3,400 2,660
Other real estate owned expense 323 759 1,227
Merger expense 2,100
Other operating expenses 22,814 20,917 20,100
Total noninterest expenses 85,894 80,993 73,996
Income before income taxes 137,350 110,818 89,005
Provision for income taxes 44,258 29,339 25,465
Net income 93,092 81,479 63,540
Dividends on preferred stock 62 47 280
Net income available to common stockholders $ 93,030 $ 81,432 $ 63,260
Basic earnings per common share (in dollars per share) $ 1.76 $ 1.55 $ 1.23
Diluted earnings per common share (in dollars per share) $ 1.72 $ 1.52 $ 1.20