Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Interest and dividend income:    
Interest and fees on loans $ 68,084 $ 62,947
Interest on deposits in other banks 71 47
Interest and dividends on securities:    
Taxable 4,923 4,316
Nontaxable 3,562 3,439
Total interest and dividend income 76,640 70,749
Interest expense:    
Interest on deposits 5,077 4,195
Interest on short-term borrowings 950 623
Interest on long-term borrowings 4,046 2,200
Total interest expense 10,073 7,018
Net interest income 66,567 63,731
Provision for credit losses 2,122 2,604
Net interest income after provision for credit losses 64,445 61,127
Noninterest income:    
Service charges on deposit accounts 4,829 4,734
Other service charges and fees 4,408 4,156
Fiduciary and asset management fees 2,794 2,138
Mortgage banking income, net 2,025 2,146
Gains on securities transactions, net 481 143
Bank owned life insurance income 2,125 1,372
Loan-related interest rate swap fees 1,180 662
Other operating income 997 563
Total noninterest income 18,839 15,914
Noninterest expenses:    
Salaries and benefits 32,168 28,048
Occupancy expenses 4,903 4,976
Furniture and equipment expenses 2,603 2,636
Printing, postage, and supplies 1,150 1,139
Communications expense 910 1,089
Technology and data processing 3,900 3,814
Professional services 1,658 1,989
Marketing and advertising expense 1,740 1,938
FDIC assessment premiums and other insurance 706 1,362
Other taxes 2,022 1,618
Loan-related expenses 1,329 878
OREO and credit-related expenses 541 569
Amortization of intangible assets 1,637 1,880
Training and other personnel costs 969 744
Other expenses 1,159 1,592
Total noninterest expenses 57,395 54,272
Income before income taxes 25,889 22,769
Income tax expense 6,765 5,808
Net income $ 19,124 $ 16,961
Basic earnings per common share (in usd per share) $ 0.44 $ 0.38
Diluted earnings per common share (in usd per share) 0.44 0.38
Dividends declared per common share (in usd per share) $ 0.20 $ 0.19
Basic weighted average number of common shares outstanding (in shares) 43,654,498 44,251,276
Diluted weighted average number of common shares outstanding (in shares) 43,725,923 44,327,229