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 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income:        
Interest and fees on loans $ 51,598 $ 44,401 $ 148,055 $ 125,152
Taxable securities 1,107 1,041 3,614 3,273
Nontaxable securities 823 890 2,515 2,624
Federal funds sold 347 32 630 81
Other interest and dividends 816 168 1,888 394
Total interest income 54,691 46,532 156,702 131,524
Interest expense:        
Deposits 5,358 3,818 14,352 10,600
Borrowed funds 1,415 852 4,362 1,814
Total interest expense 6,773 4,670 18,714 12,414
Net interest income 47,918 41,862 137,988 119,110
Provision for loan losses 3,464 3,072 9,323 9,539
Net interest income after provision for loan losses 44,454 38,790 128,665 109,571
Noninterest income:        
Service charges on deposit accounts 1,367 1,279 3,980 3,762
Mortgage banking 1,112 873 2,681 2,062
Securities (losses) gains 0 0 (3) 29
Increase in cash surrender value life insurance 770 683 2,049 1,991
Other operating income 1,542 903 3,366 2,258
Total noninterest income 4,791 3,738 12,073 10,102
Noninterest expenses:        
Salaries and employee benefits 10,958 10,595 32,758 30,029
Equipment and occupancy expense 2,100 1,575 6,108 4,870
Professional services 1,182 668 2,919 1,901
FDIC and other regulatory assessments 775 681 2,328 1,927
OREO expense 178 400 668 903
Merger expense 0 0 0 2,100
Other operating expenses 4,969 4,329 14,175 13,264
Total noninterest expenses 20,162 18,248 58,956 54,994
Income before income taxes 29,083 24,280 81,782 64,679
Provision for income taxes 8,174 8,014 22,041 20,889
Net income 20,909 16,266 59,741 43,790
Preferred stock dividends 0 33 23 256
Net income available to common stockholders $ 20,909 $ 16,233 $ 59,718 $ 43,534
Basic earnings per common share $ 0.8 $ 0.63 $ 2.27 $ 1.7
Diluted earnings per common share $ 0.78 $ 0.61 $ 2.23 $ 1.65