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
 3 Months Ended 9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Interest income:        
Interest and fees on loans $ 21,043 $ 17,715 $ 59,509 $ 50,669
Taxable securities 1,374 1,575 4,360 4,997
Nontaxable securities 742 582 2,175 1,650
Federal funds sold 54 23 125 41
Other interest and dividends 99 64 184 100
Total interest income 23,312 19,959 66,353 57,457
Interest expense:        
Deposits 3,382 3,113 9,780 8,795
Borrowed funds 711 859 2,330 2,461
Total interest expense 4,093 3,972 12,110 11,256
Net interest income 19,219 15,987 54,243 46,201
Provision for loan losses 2,740 2,537 6,465 7,612
Net interest income after provision for loan losses 16,479 13,450 47,778 38,589
Noninterest income:        
Service charges on deposit accounts 569 564 1,683 1,718
Mortgage banking 814 589 1,641 1,336
Securities gains     666 53
Other operating income 425 195 871 377
Total noninterest income 1,808 1,348 4,861 3,484
Noninterest expenses:        
Salaries and employee benefits 4,723 3,547 13,963 10,176
Equipment and occupancy expense 923 814 2,743 2,368
Professional services 337 220 928 625
FDIC and other regulatory assessments 403 626 1,377 2,276
OREO expense 115 483 504 1,543
Other operating expenses 2,331 1,777 7,283 5,472
Total noninterest expenses 8,832 7,467 26,798 22,460
Income before income taxes 9,455 7,331 25,841 19,613
Provision for income taxes 3,320 2,532 8,990 6,780
Net income 6,135 4,799 16,851 12,833
Preferred stock dividends 100   100  
Net income available to common stockholders $ 6,035 $ 4,799 $ 16,751 $ 12,833
Basic earnings per common share $ 1.03 $ 0.87 $ 2.93 $ 2.33
Diluted earnings per common share $ 0.90 $ 0.77 $ 2.58 $ 2.11