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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest Income        
Interest and fees on loans $ 43,083 $ 43,200 $ 128,334 $ 128,490
Interest and dividends on investments:        
Taxable interest 6,470 7,118 20,022 21,632
Interest exempt from federal income taxes 261 104 646 172
Dividends 685 663 2,727 1,459
Interest on bank deposits 2 4 7 8
Total interest income 50,501 51,089 151,736 151,761
Interest Expense        
Interest on deposits 1,757 2,974 5,787 9,897
Interest on short-term borrowings 1,279 662 3,353 1,608
Interest on subordinated debentures 588 578 1,736 1,715
Interest on other long-term debt 192 322 633 1,014
Total interest expense 3,816 4,536 11,509 14,234
Net Interest Income 46,685 46,553 140,227 137,527
Provision for credit losses 4,621 2,073 8,818 8,621
Net Interest Income after Provision for Credit Losses 42,064 44,480 131,409 128,906
Noninterest Income        
Net securities gains 0 48 125 50
Trust income 1,614 1,678 4,511 4,587
Service charges on deposit accounts 4,081 4,099 11,271 12,032
Insurance and retail brokerage commissions 2,163 1,709 6,536 4,704
Income from bank owned life insurance 1,357 1,330 4,089 4,131
Gain on sale of loans 1,196 67 2,262 143
Gain on sale of other assets 444 675 1,022 4,345
Card related interchange income 3,637 3,599 10,784 10,620
Derivatives mark to market (expense) income (783) (108) (420) 175
Other income 1,796 1,953 5,863 6,185
Total noninterest income 15,505 15,050 46,043 46,972
Noninterest Expense        
Salaries and employee benefits 22,446 22,244 66,339 65,185
Net occupancy expense 3,291 3,180 10,518 9,969
Furniture and equipment expense 2,670 4,471 7,980 15,050
Data processing expense 1,558 1,583 4,505 4,593
Advertising and promotion expense 789 861 1,946 2,346
Pennsylvania shares tax expense 1,713 1,033 3,617 2,782
Intangible amortization 157 174 469 530
Collection and repossession expense 801 783 2,229 1,941
Other professional fees and services 1,007 1,050 2,882 2,777
FDIC insurance 963 926 3,047 3,026
Loss on sale or write-down of assets 140 61 2,037 1,241
Operational losses (recoveries) 314 187 1,637 (273)
Conversion related expenses 0 783 0 1,676
Other operating expenses 4,408 4,232 13,539 13,008
Total noninterest expense 40,257 41,568 120,745 123,851
Income Before Income Taxes 17,312 17,962 56,707 52,027
Income tax provision 4,898 5,466 16,625 15,303
Net Income $ 12,414 $ 12,496 $ 40,082 $ 36,724
Average Shares Outstanding (in shares) 88,807,294 92,567,503 89,527,560 93,627,933
Average Shares Outstanding Assuming Dilution (in shares) 88,813,746 92,578,701 89,531,498 93,632,783
Per Share Data:        
Basic Earnings per Share (in dollars per share) $ 0.14 $ 0.13 $ 0.45 $ 0.39
Diluted Earnings per Share (in dollars per share) 0.14 0.13 0.45 0.39
Cash Dividends Declared per Common Share (in dollars per share) $ 0.07 $ 0.07 $ 0.21 $ 0.21