Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Interest and dividend income:      
Interest and fees on loans $ 262,567 $ 247,587 $ 246,366
Interest on deposits in other banks 244 94 60
Interest and dividends on securities:      
Taxable 18,319 15,606 15,226
Nontaxable 13,790 13,484 13,293
Total interest and dividend income 294,920 276,771 274,945
Interest expense:      
Interest on deposits 17,731 15,553 11,034
Interest on short-term borrowings 2,894 944 566
Interest on long-term borrowings 9,145 8,440 8,327
Total interest expense 29,770 24,937 19,927
Net interest income 265,150 251,834 255,018
Provision for credit losses 9,100 9,571 7,800
Net interest income after provision for credit losses 256,050 242,263 247,218
Noninterest income:      
Service charges on deposit accounts 19,496 18,904 17,721
Other service charges, commissions and fees 17,175 15,575 14,983
Fiduciary and asset management fees 10,199 9,141 9,036
Mortgage banking income, net 10,953 9,767 9,707
Gains on securities transactions, net 205 1,486 1,695
Other-than-temporary impairment losses 0 (300) 0
Bank owned life insurance income 5,513 4,593 4,648
Loan-related interest rate swap fees 4,254 412 293
Other operating income 3,112 5,429 3,204
Total noninterest income 70,907 65,007 61,287
Noninterest expenses:      
Salaries and benefits 117,103 104,192 107,804
Occupancy expenses 19,528 20,053 20,136
Furniture and equipment expenses 10,475 11,674 11,872
Printing, postage, and supplies 4,692 5,124 4,924
Communications expense 3,850 4,634 4,902
Technology and data processing 15,368 13,667 12,465
Professional services 8,085 6,309 5,594
Marketing and advertising expense 7,784 7,215 6,406
FDIC assessment premiums and other insurance 5,406 5,376 6,125
Other taxes 5,456 6,227 5,784
Loan-related expenses 4,790 4,097 3,469
OREO and credit-related expenses 2,602 8,911 10,164
Amortization of intangible assets 7,210 8,445 9,795
Training and other personnel costs 3,435 3,675 2,893
Acquisition and conversion costs 0 0 20,345
Other expenses 6,919 7,283 5,538
Total noninterest expenses 222,703 216,882 238,216
Income before income taxes 104,254 90,388 70,289
Income tax expense 26,778 23,309 18,125
Net income $ 77,476 $ 67,079 $ 52,164
Basic earnings per common share (in dollars per share) $ 1.77 $ 1.49 $ 1.13
Diluted earnings per common share (in dollars per share) 1.77 1.49 1.13
Dividends declared per common share (in dollars per share) $ 0.77 $ 0.68 $ 0.58
Basic weighted average number of common shares outstanding (in shares) 43,784,193 45,054,938 46,036,023
Diluted weighted average number of common shares outstanding (in shares) 43,890,271 45,138,891 46,130,895