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 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest and dividend income:        
Interest and fees on loans $ 72,612 $ 64,747 $ 140,696 $ 127,694
Interest on deposits in other banks 115 65 186 112
Interest and dividends on securities:        
Taxable 4,982 4,510 9,905 8,826
Nontaxable 3,512 3,459 7,074 6,898
Total interest and dividend income 81,221 72,781 157,861 143,530
Interest expense:        
Interest on deposits 6,100 4,197 11,176 8,393
Interest on short-term borrowings 1,400 710 2,350 1,332
Interest on long-term borrowings 4,722 2,098 8,768 4,298
Total interest expense 12,222 7,005 22,294 14,023
Net interest income 68,999 65,776 135,567 129,507
Provision for credit losses 2,173 2,300 4,295 4,904
Net interest income after provision for credit losses 66,826 63,476 131,272 124,603
Noninterest income:        
Service charges on deposit accounts 4,963 4,754 9,792 9,488
Other service charges and fees 4,637 4,418 9,045 8,574
Fiduciary and asset management fees 2,725 2,333 5,519 4,471
Mortgage banking income, net 2,793 2,972 4,818 5,117
Gains on securities transactions, net 117 3 598 146
Bank owned life insurance income 1,335 1,361 3,460 2,734
Loan-related interest rate swap fees 1,031 1,091 2,211 1,753
Other operating income 455 1,061 1,451 1,624
Total noninterest income 18,056 17,993 36,894 33,907
Noninterest expenses:        
Salaries and benefits 30,561 28,519 62,730 56,567
Occupancy expenses 4,718 4,809 9,621 9,785
Furniture and equipment expenses 2,720 2,595 5,323 5,232
Printing, postage, and supplies 1,406 1,280 2,556 2,419
Communications expense 872 927 1,782 2,016
Technology and data processing 3,927 3,608 7,827 7,422
Professional services 2,092 2,548 3,750 4,537
Marketing and advertising expense 2,279 1,924 4,019 3,863
FDIC assessment premiums and other insurance 947 1,379 1,652 2,741
Other taxes 2,022 1,607 4,043 3,225
Loan-related expenses 1,281 1,229 2,610 2,107
OREO and credit-related expenses 342 894 884 1,463
Amortization of intangible assets 1,544 1,745 3,180 3,625
Training and other personnel costs 1,043 905 2,012 1,649
Acquisition and conversion costs 2,744 0 2,744 0
Other expenses 1,432 1,282 2,592 2,872
Total noninterest expenses 59,930 55,251 117,325 109,523
Income before income taxes 24,952 26,218 50,841 48,987
Income tax expense 6,996 6,881 13,761 12,689
Net income $ 17,956 $ 19,337 $ 37,080 $ 36,298
Basic earnings per common share (in usd per share) $ 0.41 $ 0.44 $ 0.85 $ 0.82
Diluted earnings per common share (in usd per share) 0.41 0.44 0.85 0.82
Dividends declared per common share (in usd per share) $ 0.20 $ 0.19 $ 0.4 $ 0.38
Basic weighted average number of common shares outstanding (in shares) 43,693,427 43,746,583 43,674,070 43,998,929
Diluted weighted average number of common shares outstanding (in shares) 43,783,952 43,824,183 43,755,045 44,075,706