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, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest income:      
Interest and fees on loans $ 82,294 $ 69,115 $ 55,890
Taxable securities 5,721 6,482 4,516
Nontaxable securities 2,943 2,274 1,500
Federal funds sold 176 104 257
Other interest and dividends 277 171 34
Total interest income 91,411 78,146 62,197
Interest expense:      
Deposits 13,047 11,941 16,087
Borrowed funds 3,033 3,319 2,250
Total interest expense 16,080 15,260 18,337
Net interest income 75,331 62,886 43,860
Provision for loan losses 8,972 10,350 10,685
Net interest income after provision for loan losses 66,359 52,536 33,175
Noninterest income:      
Service charges on deposit accounts 2,290 2,316 1,631
Mortgage banking 2,373 2,174 2,222
Securities gains 666 108 193
Other operating income 1,597 571 367
Total noninterest income 6,926 5,169 4,413
Noninterest expenses:      
Salaries and employee benefits 19,518 14,669 13,581
Equipment and occupancy expense 3,697 3,184 2,749
Professional services 1,213 925 848
FDIC and other regulatory assessments 1,796 2,944 2,815
Other real estate owned expense 820 1,964 2,745
Other operating expenses 10,414 7,283 6,192
Total noninterest expenses 37,458 30,969 28,930
Income before income taxes 35,827 26,736 8,658
Provision for income taxes 12,389 9,358 2,780
Net income 23,438 17,378 5,878
Dividends on preferred stock 200    
Net income available to common stockholders $ 23,238 $ 17,378 $ 5,878
Basic earnings per common share $ 4.03 $ 3.15 $ 1.07
Diluted earnings per common share $ 3.53 $ 2.84 $ 1.02