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, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest and dividend income:        
Interest and fees on loans $ 64,747 $ 62,604 $ 127,694 $ 123,057
Interest on deposits in other banks 65 24 112 41
Interest and dividends on securities:        
Taxable 4,510 3,860 8,826 7,667
Nontaxable 3,459 3,366 6,898 6,690
Total interest and dividend income 72,781 69,854 143,530 137,455
Interest expense:        
Interest on deposits 4,197 3,680 8,393 7,000
Interest on federal funds purchased 2 4 3 5
Interest on short-term borrowings 708 255 1,329 505
Interest on long-term borrowings 2,098 2,099 4,298 4,160
Total interest expense 7,005 6,038 14,023 11,670
Net interest income 65,776 63,816 129,507 125,785
Provision for credit losses 2,300 3,749 4,904 5,499
Net interest income after provision for credit losses 63,476 60,067 124,603 120,286
Noninterest income:        
Service charges on deposit accounts 4,754 4,622 9,488 8,835
Other service charges and fees 4,418 4,051 8,574 7,634
Fiduciary and asset management fees 2,333 2,312 4,471 4,531
Mortgage banking income, net 2,972 2,574 5,117 4,952
Gains on securities transactions, net 3 404 146 597
Bank owned life insurance income 1,361 1,134 2,734 2,269
Other operating income 2,152 1,115 3,377 2,448
Total noninterest income 17,993 16,212 33,907 31,266
Noninterest expenses:        
Salaries and benefits 28,519 25,561 56,567 53,052
Occupancy expenses 4,809 5,173 9,785 10,305
Furniture and equipment expenses 2,595 2,989 5,232 5,803
Printing, postage, and supplies 1,280 1,408 2,419 2,779
Communications expense 927 1,143 2,016 2,322
Technology and data processing 3,608 3,216 7,422 6,471
Professional services 2,548 1,669 4,537 3,017
Marketing and advertising expense 1,924 2,372 3,863 4,060
FDIC assessment premiums and other insurance 1,379 1,280 2,741 2,679
Other taxes 1,607 1,554 3,225 3,105
Loan-related expenses 855 687 1,454 1,371
OREO and credit-related expenses 894 1,965 1,463 3,152
Amortization of intangible assets 1,745 2,138 3,625 4,361
Training and other personnel costs 905 912 1,649 1,633
Other expenses 1,656 3,174 3,525 4,971
Total noninterest expenses 55,251 55,241 109,523 109,081
Income (loss) before income taxes 26,218 21,038 48,987 42,471
Income tax expense 6,881 5,690 12,689 11,422
Net income (loss) $ 19,337 $ 15,348 $ 36,298 $ 31,049
Basic earnings per common share (in usd per share) $ 0.44 $ 0.34 $ 0.82 $ 0.69
Diluted earnings per common share (in usd per share) 0.44 0.34 0.82 0.69
Dividends declared per common share (in usd per share) $ 0.19 $ 0.17 $ 0.38 $ 0.32
Basic weighted average number of common shares outstanding 43,746,583 45,128,698 43,998,929 45,117,396
Diluted weighted average number of common shares outstanding 43,824,183 45,209,814 44,075,706 45,198,727