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CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income        
Interest and fees on loans $ 63,524 $ 49,494 $ 123,850 $ 96,519
Interest and dividends on investment securities:        
Taxable 2,573 2,150 5,515 4,037
Tax-exempt 1,081 778 2,208 1,592
Dividends 410 502 867 987
Interest on federal funds sold and other short-term investments 290 160 647 424
Total interest income 67,878 53,084 133,087 103,559
Interest expense        
Deposits 16,596 9,169 31,947 16,857
Borrowings 5,752 4,970 10,658 9,610
Total interest expense 22,348 14,139 42,605 26,467
Net interest income 45,530 38,945 90,482 77,092
Provision for loan losses 1,100 1,100 5,600 18,900
Net interest income after provision for loan losses 44,430 37,845 84,882 58,192
Noninterest income        
Income on bank owned life insurance [1] 833 775 1,655 1,549
Net gains on sale of loans held-for-sale [1] 46 12 65 29
Deposit, loan and other income 914 601 1,700 1,217
Net gains (losses) on equity securities 158 (47) 261 (168)
Net losses on sales of securities available-for-sale [1] (9) (1)
Total noninterest income 1,942 1,341 3,680 2,627
Noninterest expenses        
Salaries and employee benefits 11,793 9,729 23,748 19,401
Occupancy and equipment 2,357 2,031 4,852 4,174
FDIC insurance 825 765 1,580 1,615
Professional and consulting 1,370 825 2,579 1,548
Marketing and advertising 397 337 607 544
Data processing 1,139 1,091 2,294 2,239
Merger expenses 331 7,893
Loss on extinguishment of debt 1,047 1,047
Amortization of core deposit intangibles 364 169 728 338
Other components of net periodic pension expense 29 7 57 14
Other expenses 1,938 2,107 4,267 4,126
Total noninterest expenses 21,590 17,061 49,652 33,999
Income before income tax expense 24,782 22,125 38,910 26,820
Income tax expense 5,501 4,598 7,994 5,042
Net income $ 19,281 $ 17,527 $ 30,916 $ 21,778
Earnings per common share:        
Basic $ 0.54 $ 0.54 $ 0.87 $ 0.68
Diluted $ 0.54 $ 0.54 $ 0.87 $ 0.67
[1] Not within scope of ASC 606.