Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Interest income:      
Interest and fees on loans $ 118,285 $ 100,462 $ 82,294
Taxable securities 3,888 4,814 5,721
Nontaxable securities 3,407 3,246 2,943
Federal funds sold 128 196 176
Other interest and dividends 373 305 277
Total interest income 126,081 109,023 91,411
Interest expense:      
Deposits 11,830 12,249 13,047
Borrowed funds 1,789 2,652 3,033
Total interest expense 13,619 14,901 16,080
Net interest income 112,462 94,122 75,331
Provision for loan losses 13,008 9,100 8,972
Net interest income after provision for loan losses 99,454 85,022 66,359
Noninterest income:      
Service charges on deposit accounts 3,228 2,756 2,290
Mortgage banking 2,513 3,560 2,373
Securities gains 131 0 666
Increase in cash surrender value life insurance 1,994 1,624 390
Other operating income 2,144 1,703 1,207
Total noninterest income 10,010 9,643 6,926
Noninterest expenses:      
Salaries and employee benefits 26,324 22,587 19,518
Equipment and occupancy expense 5,202 4,014 3,697
Professional services 1,809 1,455 1,213
FDIC and other regulatory assessments 1,799 1,595 1,796
Other real estate owned expense 1,426 2,727 820
Other operating expenses 10,929 10,722 10,414
Total noninterest expenses 47,489 43,100 37,458
Income before income taxes 61,975 51,565 35,827
Provision for income taxes 20,358 17,120 12,389
Net income 41,617 34,445 23,438
Dividends on preferred stock 400 400 200
Net income available to common stockholders $ 41,217 $ 34,045 $ 23,238
Basic earnings per common share $ 6.00 $ 5.68 $ 4.03
Diluted earnings per common share $ 5.69 $ 4.99 $ 3.53