XML 62 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Interest Income        
Interest and fees on loans $ 43,200 $ 43,935 $ 128,490 $ 132,178
Interest and dividends on investments:        
Taxable interest 7,118 8,280 21,632 22,708
Interest exempt from federal income taxes 104 1 172 3
Dividends 663 90 1,459 156
Interest on bank deposits 4 2 8 5
Total interest income 51,089 52,308 151,761 155,050
Interest Expense        
Interest on deposits 2,974 3,750 9,897 11,948
Interest on short-term borrowings 662 362 1,608 869
Interest on subordinated debentures 578 584 1,715 2,548
Interest on other long-term debt 322 383 1,014 1,340
Total interest expense 4,536 5,079 14,234 16,705
Net Interest Income 46,553 47,229 137,527 138,345
Provision for credit losses 2,073 2,714 8,621 18,011
Net Interest Income after Provision for Credit Losses 44,480 44,515 128,906 120,334
Noninterest Income        
Net securities gains 48 229 50 237
Trust income 1,678 1,406 4,587 4,677
Service charges on deposit accounts 4,099 4,227 12,032 11,443
Insurance and retail brokerage commissions 1,709 1,822 4,704 4,623
Income from bank owned life insurance 1,330 1,359 4,131 4,219
Gain on sale of assets 742 1,356 4,488 2,056
Card related interchange income 3,599 3,536 10,620 10,214
Other income 1,845 3,148 6,360 9,430
Total noninterest income 15,050 17,083 46,972 46,899
Noninterest Expense        
Salaries and employee benefits 22,244 20,998 65,185 64,288
Net occupancy expense 3,180 3,274 9,969 10,130
Furniture and equipment expense 4,471 3,294 15,050 9,863
Data processing expense 1,583 1,492 4,593 4,511
Advertising and promotion expense 861 815 2,346 2,369
Pennsylvania shares tax expense 1,033 1,516 2,782 4,223
Intangible amortization 174 193 530 848
Collection and repossession expense 783 860 1,941 2,862
Other professional fees and services 1,050 848 2,777 2,765
FDIC insurance 926 1,178 3,026 3,312
Conversion related expenses 783 65 1,676 65
Loss on redemption of subordinated debt 0 0 0 1,629
Other operating expenses 4,480 5,512 13,976 16,632
Total noninterest expense 41,568 40,045 123,851 123,497
Income Before Income Taxes 17,962 21,553 52,027 43,736
Income tax provision 5,466 5,699 15,303 11,513
Net Income $ 12,496 $ 15,854 $ 36,724 $ 32,223
Average Shares Outstanding (in shares) 92,567,503 96,194,594 93,627,933 97,671,343
Average Shares Outstanding Assuming Dilution (in shares) 92,578,701 96,208,545 93,632,783 97,675,352
Per Share Data:        
Basic Earnings per Share (in dollars per share) $ 0.13 $ 0.16 $ 0.39 $ 0.33
Diluted Earnings per Share (in dollars per share) $ 0.13 $ 0.16 $ 0.39 $ 0.33
Cash Dividends Declared per Common Share (in dollars per share) $ 0.07 $ 0.06 $ 0.21 $ 0.17