Revenue during the quarter grew 4.58 percent to $78 million from $74.59 million in the previous year period. Net interest income for the quarter rose 6.29 percent over the prior year period to $67.04 million. Non-interest income for the quarter fell 4.25 percent over the last year period to $12.46 million.

Net interest margin was stable at 3.11 percent in the quarter, when compared with the last year period. Efficiency ratio for the quarter improved to 58.02 percent from 58.98 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.

Christopher Martin, chairman, president and chief executive officer commented: "We are pleased to report record earnings for the quarter, driven by an expanding net interest margin, solid credit quality and ongoing expense management. Our loan and deposit pipelines remain strong and we look forward to prudent growth and additional modest margin expansion throughout 2017."

Investments stood at $1,537.23 million as on Mar. 31, 2017. Shareholders equity was at $1,267.09 million as on Mar. 31, 2017.

Return on average assets moved up 6 basis points to 1 percent in the quarter from 0.94 percent in the last year period. At the same time, return on average equity increased 57 basis points to 7.54 percent in the quarter from 6.97 percent in the last year period.

Nonperforming assets moved down 21.89 percent or $13.50 million to $48.18 million on Mar. 31, 2017 from $61.68 million on Mar. 31, 2016. Meanwhile, nonperforming assets to total assets was 0.51 percent in the quarter, down from 0.68 percent in the last year period.

Book value per share was $19.10 for the quarter, up 3.41 percent or $0.63 compared to $18.47 for the same period last year.