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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income:        
Loans secured by real estate $ 48,090 $ 42,109 $ 141,099 $ 127,370
Other loans 28 22 76 70
Mortgage backed securities 2 1 6 184
Investment securities 129 254 567 544
Federal funds sold and other short-term investments 707 510 2,089 1,738
Total interest income 48,956 42,896 143,837 129,906
Interest expense:        
Deposits and escrow 8,635 5,890 23,026 16,780
Borrowed funds 4,974 5,192 15,223 18,148
Total interest expense 13,609 11,082 38,249 34,928
Net interest income 35,347 31,814 105,588 94,978
Provision (credit) for loan losses 1,168 416 1,589 (891)
Net interest income after provision (credit) for loan losses 34,179 31,398 103,999 95,869
Non-interest income:        
Service charges and other fees 1,123 1,013 2,566 2,562
Net mortgage banking income 16 41 71 154
Net gain (loss) on securities and other assets 69 (138) 148 1,287
Net gain on the sale of premises held for sale 0 0 68,183 0
Income from BOLI 570 620 2,173 1,837
Other 293 363 976 1,037
Total non-interest income 2,071 1,899 74,117 6,877
Non-interest expense:        
Salaries and employee benefits 8,616 8,370 26,132 22,870
Stock benefit plan amortization expense 815 885 2,539 2,767
Occupancy and equipment 3,250 2,531 8,992 7,965
Data processing costs 1,284 1,023 3,735 2,775
Federal deposit insurance premiums 613 575 1,933 1,703
Other 3,654 2,740 10,862 8,274
Total non-interest expense 18,232 16,124 54,193 46,354
Income before income taxes 18,018 17,173 123,923 56,392
Income tax expense 7,481 7,092 52,141 23,004
Net income $ 10,537 $ 10,081 $ 71,782 $ 33,388
Earnings per Share:        
Basic (in dollars per share) $ 0.29 $ 0.28 $ 1.95 $ 0.92
Diluted (in dollars per share) $ 0.29 $ 0.28 $ 1.95 $ 0.92