Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income:        
Interest and fees on loans $ 42,105 $ 33,250 $ 80,751 $ 65,502
Taxable securities 1,104 1,126 2,232 2,223
Nontaxable securities 874 870 1,734 1,741
Federal funds sold 24 38 101 80
Other interest and dividends 102 140 174 159
Total interest income 44,209 35,424 84,992 69,705
Interest expense:        
Deposits 3,512 3,027 6,782 6,041
Borrowed funds 486 419 962 837
Total interest expense 3,998 3,446 7,744 6,878
Net interest income 40,211 31,978 77,248 62,827
Provision for loan losses 4,062 2,438 6,467 4,752
Net interest income after provision for loan losses 36,149 29,540 70,781 58,075
Noninterest income:        
Service charges on deposit accounts 1,276 1,057 2,483 1,925
Mortgage banking 735 674 1,189 958
Securities gains 0 0 29 0
Increase in cash surrender value life insurance 660 546 1,308 1,082
Other operating income 834 661 1,573 1,148
Total noninterest income 3,505 2,938 6,582 5,113
Noninterest expenses:        
Salaries and employee benefits 10,426 9,098 19,434 16,795
Equipment and occupancy expense 1,634 1,409 3,295 2,775
Professional services 665 532 1,233 1,048
FDIC and other regulatory assessments 626 528 1,246 1,045
OREO expense 289 298 503 785
Merger expense 0 0 2,100 0
Other operating expenses 4,573 3,552 9,153 6,692
Total noninterest expenses 18,213 15,417 36,964 29,140
Income before income taxes 21,441 17,061 40,399 34,048
Provision for income taxes 6,972 5,476 12,875 10,705
Net income 14,469 11,585 27,524 23,343
Preferred stock dividends 123 116 223 216
Net income available to common stockholders $ 14,346 $ 11,469 $ 27,301 $ 23,127
Basic earnings per common share $ 0.56 $ 0.49 $ 1.07 $ 1.01
Diluted earnings per common share $ 0.54 $ 0.46 $ 1.04 $ 0.97