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, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest income:        
Interest and fees on loans $ 44,401 $ 34,662 $ 125,152 $ 100,164
Taxable securities 1,041 1,131 3,273 3,354
Nontaxable securities 890 877 2,624 2,618
Federal funds sold 32 38 81 118
Other interest and dividends 168 149 394 308
Total interest income 46,532 36,857 131,524 106,562
Interest expense:        
Deposits 3,818 3,123 10,600 9,164
Borrowed funds 852 415 1,814 1,252
Total interest expense 4,670 3,538 12,414 10,416
Net interest income 41,862 33,319 119,110 96,146
Provision for loan losses 3,072 2,748 9,539 7,500
Net interest income after provision for loan losses 38,790 30,571 109,571 88,646
Noninterest income:        
Service charges on deposit accounts 1,279 1,172 3,762 3,097
Mortgage banking 873 582 2,062 1,540
Securities gains 0 3 29 3
Increase in cash surrender value life insurance 683 549 1,991 1,631
Other operating income 987 700 2,560 1,848
Total noninterest income 3,822 3,006 10,404 8,119
Noninterest expenses:        
Salaries and employee benefits 10,595 7,890 30,029 24,685
Equipment and occupancy expense 1,575 1,437 4,870 4,212
Professional services 668 829 1,901 1,877
FDIC and other regulatory assessments 681 533 1,927 1,578
OREO expense 400 220 903 1,005
Merger expense 0 0 2,100 0
Other operating expenses 4,413 4,406 13,566 11,098
Total noninterest expenses 18,332 15,315 55,296 44,455
Income before income taxes 24,280 18,262 64,679 52,310
Provision for income taxes 8,014 4,260 20,889 14,965
Net income 16,266 14,002 43,790 37,345
Preferred stock dividends 33 100 256 316
Net income available to common stockholders $ 16,233 $ 13,902 $ 43,534 $ 37,029
Basic earnings per common share $ 0.63 $ 0.56 $ 1.7 $ 1.57
Diluted earnings per common share $ 0.61 $ 0.54 $ 1.65 $ 1.51