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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 $ 25,740 $ 23,787 $ 79,738 $ 71,590
Investment securities – taxable 251 475 572 1,171
Investment securities – tax-exempt 5,467 5,551 15,959 17,060
Mortgage-backed securities 9,399 8,318 28,156 24,446
FHLB stock and other investments 186 65 588 223
Other interest earning assets 89 15 220 78
Total interest income 41,132 38,211 125,233 114,568
Interest expense        
Deposits 3,604 2,485 10,375 7,507
Short-term obligations 1,122 354 2,724 650
Long-term obligations 2,476 2,089 7,210 6,434
Total interest expense 7,202 4,928 20,309 14,591
Net interest income 33,930 33,283 104,924 99,977
Provision for loan losses 1,631 2,276 7,715 6,392
Net interest income after provision for loan losses 32,299 31,007 97,209 93,585
Noninterest income        
Deposit services 5,335 5,213 15,519 15,122
Net gain on sale of securities available for sale 2,343 875 5,512 3,456
Gain on sale of loans 818 305 2,334 1,504
Trust income 867 835 2,591 2,548
Bank owned life insurance income 656 661 1,977 1,983
Brokerage services 551 540 1,661 1,651
Other 1,162 932 3,104 2,816
Total noninterest income 11,732 9,361 32,698 29,080
Noninterest expense        
Salaries and employee benefits 15,203 15,733 47,784 50,801
Occupancy expense 4,569 3,316 10,897 9,620
Advertising, travel & entertainment 588 642 1,995 1,982
ATM and debit card expense 868 617 2,316 2,046
Professional fees 1,148 825 3,964 2,360
Software and data processing expense 736 819 2,224 3,087
Telephone and communications 407 534 1,359 1,606
FDIC insurance 643 624 1,926 1,891
FHLB prepayment fees 0 0 148 0
Other 4,263 3,525 11,032 11,126
Total noninterest expense 28,425 26,635 83,645 84,519
Income before income tax expense 15,606 13,733 46,262 38,146
Income tax expense 2,741 1,971 8,486 5,841
Net income $ 12,865 $ 11,762 $ 37,776 $ 32,305
Earnings per common share - basic (in dollars per share) $ 0.49 $ 0.44 $ 1.43 $ 1.21
Earnings per common share - diluted (in dollars per share) 0.49 0.44 1.43 1.21
Dividends paid per common share (in dollars per share) $ 0.24 $ 0.23 $ 0.71 $ 0.69