Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME

v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Interest income:    
Interest and fees on loans $ 27,318 $ 23,325
Taxable debt securities 948 1,337
Nontaxable debt securities 832 782
Federal funds sold 16 53
Other interest and dividends 51 74
Total interest income 29,165 25,571
Interest expense:    
Deposits 2,713 3,122
Borrowed funds 551 711
Total interest expense 3,264 3,833
Net interest income 25,901 21,738
Provision for loan losses 4,284 2,383
Net interest income after provision for loan losses 21,617 19,355
Noninterest income:    
Service charges on deposit accounts 762 601
Mortgage banking 980 972
Securities gains 123 0
Increase in cash surrender value of life insurance 470 390
Other operating income 462 306
Total noninterest income 2,797 2,269
Noninterest expense:    
Salaries and employee benefits 5,679 5,165
Equipment and occupancy expense 1,111 935
Professional services 461 332
FDIC and other regulatory assessments 432 390
OREO expense 390 137
Other operating expense 2,679 2,072
Total noninterest expense 10,752 9,031
Income before income taxes 13,662 12,593
Provision for income taxes 4,411 4,337
Net income 9,251 8,256
Preferred stock dividends 100 100
Net income available to common stockholders $ 9,151 $ 8,156
Basic earnings per common share $ 1.44 $ 1.37
Diluted earnings per common share $ 1.31 $ 1.20