Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Interest and dividend income:      
Interest and fees on loans $ 247,587,000 $ 246,366,000 $ 155,548,000
Interest on deposits in other banks 94,000 60,000 17,000
Interest and dividends on securities:      
Taxable 15,606,000 15,226,000 8,202,000
Nontaxable 13,484,000 13,293,000 8,360,000
Total interest and dividend income 276,771,000 274,945,000 172,127,000
Interest expense:      
Interest on deposits 15,553,000 11,034,000 14,097,000
Interest on federal funds purchased 6,000 50,000 89,000
Interest on short-term borrowings 938,000 516,000 265,000
Interest on long-term borrowings 8,440,000 8,327,000 6,050,000
Total interest expense 24,937,000 19,927,000 20,501,000
Net interest income 251,834,000 255,018,000 151,626,000
Provision for credit losses 9,571,000 7,800,000 6,056,000
Net interest income after provision for credit losses 242,263,000 247,218,000 145,570,000
Noninterest income:      
Service charges on deposit accounts 18,904,000 17,721,000 9,492,000
Other service charges, commissions and fees 15,575,000 14,983,000 8,607,000
Fiduciary and asset management fees 9,141,000 9,036,000 5,183,000
Mortgage banking income, net 9,767,000 9,707,000 11,900,000
Gains on securities transactions, net 1,486,000 1,695,000 21,000
Other-than-temporary impairment losses (300,000)    
Bank owned life insurance income 4,593,000 4,648,000 2,311,000
Other operating income 5,841,000 3,497,000 1,214,000
Total noninterest income 65,007,000 61,287,000 38,728,000
Noninterest expenses:      
Salaries and benefits 104,192,000 107,804,000 70,369,000
Occupancy expenses 20,053,000 20,136,000 11,543,000
Furniture and equipment expenses 11,674,000 11,872,000 6,884,000
Printing, postage, and supplies 5,124,000 4,924,000 2,970,000
Communications expense 4,634,000 4,902,000 2,681,000
Technology and data processing 13,667,000 12,465,000 7,754,000
Professional services 6,309,000 5,594,000 3,419,000
Marketing and advertising expense 7,215,000 6,406,000 4,312,000
FDIC assessment premiums and other insurance 5,376,000 6,125,000 3,110,000
Other taxes 6,227,000 5,784,000 3,181,000
Loan-related expenses 2,819,000 2,672,000 2,447,000
OREO and credit-related expenses 8,911,000 10,164,000 4,880,000
Amortization of intangible assets 8,445,000 9,795,000 3,831,000
Training and other personnel costs 3,675,000 2,893,000 2,062,000
Acquisition and conversion costs   20,345,000 2,132,000
Other expenses 8,561,000 6,335,000 5,472,000
Total noninterest expenses 216,882,000 238,216,000 137,047,000
Income before income taxes 90,388,000 70,289,000 47,251,000
Income tax expense 23,309,000 18,125,000 12,885,000
Net income $ 67,079,000 $ 52,164,000 $ 34,366,000
Earnings per common share, basic $ 1.49 $ 1.13 $ 1.38
Earnings per common share, diluted 1.49 1.13 1.37
Dividends declared per common share $ 0.68 $ 0.58 $ 0.54
Basic weighted average number of common shares outstanding 45,054,938 46,036,023 24,975,077
Diluted weighted average number of common shares outstanding 45,138,891 46,130,895 25,030,711