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 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest and dividend income:        
Interest and fees on loans $ 66,190 $ 62,651 $ 193,884 $ 185,706
Interest on deposits in other banks 65 23 178 65
Interest and dividends on securities:        
Taxable 4,732 3,954 13,558 11,621
Nontaxable 3,446 3,372 10,344 10,062
Total interest and dividend income 74,433 70,000 217,964 207,454
Interest expense:        
Interest on deposits 4,552 4,204 12,945 11,204
Interest on federal funds purchased 2 1 5 6
Interest on short-term borrowings 763 223 2,093 728
Interest on long-term borrowings 2,088 2,128 6,386 6,287
Total interest expense 7,405 6,556 21,429 18,225
Net interest income 67,028 63,444 196,535 189,229
Provision for credit losses 2,472 2,062 7,376 7,561
Net interest income after provision for credit losses 64,556 61,382 189,159 181,668
Noninterest income:        
Service charges on deposit accounts 4,965 4,965 14,454 13,800
Other service charges and fees 4,397 3,983 12,971 11,618
Fiduciary and asset management fees 2,844 2,304 7,315 6,835
Mortgage banking income, net 3,207 2,630 8,324 7,582
Gains on securities transactions, net 0 75 145 672
Other-than-temporary impairment losses 0 (300) 0 (300)
Bank owned life insurance income 1,389 1,161 4,122 3,431
Other operating income 2,148 1,907 5,526 4,352
Total noninterest income 18,950 16,725 52,857 47,990
Noninterest expenses:        
Salaries and benefits 30,493 25,853 87,061 78,905
Occupancy expenses 4,841 4,915 14,627 15,220
Furniture and equipment expenses 2,635 3,015 7,867 8,818
Printing, postage, and supplies 1,147 1,191 3,566 3,970
Communications expense 948 1,159 2,964 3,481
Technology and data processing 3,917 3,549 11,340 10,020
Professional services 1,895 1,991 6,432 5,008
Marketing and advertising expense 1,975 1,781 5,838 5,841
FDIC assessment premiums and other insurance 1,262 1,351 4,003 4,030
Other taxes 639 1,569 3,864 4,674
Loan-related expenses 1,531 1,341 3,638 3,173
OREO and credit-related expenses 503 1,263 1,965 4,415
Amortization of intangible assets 1,843 2,074 5,468 6,435
Training and other personnel costs 863 1,198 2,512 2,831
Other expenses 2,421 1,075 5,291 5,584
Total noninterest expenses 56,913 53,325 166,436 162,405
Income before income taxes 26,593 24,782 75,580 67,253
Income tax expense 6,192 6,566 18,881 17,989
Net income (loss) $ 20,401 $ 18,216 $ 56,699 $ 49,264
Basic earnings per common share (in usd per share) $ 0.47 $ 0.40 $ 1.29 $ 1.09
Diluted earnings per common share (in usd per share) 0.47 0.40 1.29 1.09
Dividends declared per common share (in usd per share) $ 0.19 $ 0.17 $ 0.57 $ 0.49
Basic weighted average number of common shares outstanding (in shares) 43,565,937 45,087,409 43,853,548 45,107,290
Diluted weighted average number of common shares outstanding (in shares) 43,754,915 45,171,610 43,967,725 45,189,578