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
Mar. 31, 2019
Mar. 31, 2018
Interest and dividend income:    
Interest and fees on loans and leases $ 58,334 $ 51,574
Interest on securities 3,456 3,105
Dividends on FHLB stock 289 289
Interest on deposits in other banks 335 114
Total interest and dividend income 62,414 55,082
Interest expense:    
Interest on deposits 15,683 7,785
Interest on borrowings 71 679
Interest on subordinated debentures 1,772 1,694
Total interest expense 17,526 10,158
Net interest income before provision for loan and lease losses 44,888 44,924
Loan and lease loss provision 1,117 649
Net interest income after provision for loan and lease losses 43,771 44,275
Noninterest income:    
Service charges on deposit accounts 2,358 2,511
Trade finance and other service charges and fees 1,124 1,173
Gain on sales of Small Business Administration (“SBA”) loans 926 1,448
Net gain (loss) on sales of securities 725 (428)
Other operating income 1,121 1,357
Total noninterest income 6,254 6,061
Noninterest expense:    
Salaries and employee benefits 15,738 18,702
Occupancy and equipment 4,521 4,072
Data processing 2,083 1,678
Professional fees 1,649 1,369
Supplies and communications 844 708
Advertising and promotion 760 876
Other operating expenses 3,470 2,352
Total noninterest expense 29,065 29,757
Income before income tax expense 20,960 20,579
Income tax expense 6,288 5,724
Net income $ 14,672 $ 14,855
Basic earnings per share (in usd per share) $ 0.48 $ 0.46
Diluted earnings per share (in usd per share) $ 0.48 $ 0.46
Weighted-average shares outstanding:    
Basic (shares) 30,667,378 32,145,214
Diluted (shares) 30,720,772 32,301,095