Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Interest income:        
Interest and fees on loans $ 25,609 $ 21,043 $ 73,372 $ 59,509
Taxable securities 1,189 1,374 3,828 4,360
Nontaxable securities 827 742 2,423 2,175
Federal funds sold 50 54 145 125
Other interest and dividends 68 99 200 184
Total interest income 27,743 23,312 79,968 66,353
Interest expense:        
Deposits 3,079 3,382 9,229 9,780
Borrowed funds 616 711 2,048 2,330
Total interest expense 3,695 4,093 11,277 12,110
Net interest income 24,048 19,219 68,691 54,243
Provision for loan losses 1,185 2,740 6,651 6,465
Net interest income after provision for loan losses 22,863 16,479 62,040 47,778
Noninterest income:        
Service charges on deposit accounts 666 569 1,986 1,683
Mortgage banking 865 814 2,701 1,641
Securities gains 0 0 0 666
Increase in cash surrender value life insurance 386 0 1,161 0
Other operating income 443 425 1,209 871
Total noninterest income 2,360 1,808 7,057 4,861
Noninterest expenses:        
Salaries and employee benefits 5,697 4,723 16,110 13,963
Equipment and occupancy expense 988 923 2,884 2,743
Professional services 322 337 960 928
FDIC and other regulatory assessments 409 403 1,155 1,377
OREO expense 1,159 115 1,832 504
Other operating expenses 2,696 2,331 7,256 7,283
Total noninterest expenses 11,271 8,832 30,197 26,798
Total interest income 13,952 9,455 38,900 25,841
Provision for income taxes 4,650 3,320 13,011 8,990
Net income 9,302 6,135 25,889 16,851
Preferred stock dividends 100 100 300 100
Net income available to common stockholders $ 9,202 $ 6,035 $ 25,589 $ 16,751
Basic earnings per common share $ 1.53 $ 1.03 $ 4.28 $ 2.93
Diluted earnings per common share $ 1.35 $ 0.90 $ 3.75 $ 2.58