Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME

 v2.3.0.11
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data
 3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest income:        
Interest and fees on loans $ 19,845 $ 16,750 $ 38,466 $ 32,954
Taxable securities 1,444 1,670 2,986 3,422
Nontaxable securities 719 544 1,433 1,068
Federal funds sold 35 16 71 18
Other interest and dividends 37 16 85 36
Total interest income 22,080 18,996 43,041 37,498
Interest expense:        
Deposits 3,264 2,829 6,398 5,682
Borrowed funds 768 859 1,619 1,602
Total interest expense 4,032 3,688 8,017 7,284
Net interest income 18,048 15,308 35,024 30,214
Provision for loan losses 1,494 2,537 3,725 5,075
Net interest income after provision for loan losses 16,554 12,771 31,299 25,139
Noninterest income:        
Service charges on deposit accounts 547 588 1,114 1,154
Securities gains 523 15 666 53
Other operating income 712 401 1,273 929
Total noninterest income 1,782 1,004 3,053 2,136
Noninterest expenses:        
Salaries and employee benefits 5,026 3,147 9,240 6,629
Equipment and occupancy expense 934 774 1,820 1,554
Professional services 351 205 591 405
Other operating expenses 3,058 3,435 6,315 6,405
Total noninterest expenses 9,369 7,561 17,966 14,993
Income before income taxes 8,967 6,214 16,386 12,282
Provision for income taxes 3,122 2,193 5,670 4,248
Net income $ 5,845 $ 4,021 $ 10,716 $ 8,034
Basic earnings per share $ 1.02 $ 0.73 $ 1.88 $ 1.46
Diluted earnings per share $ 0.89 $ 0.65 $ 1.65 $ 1.33