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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest Income        
Interest and fees on loans $ 45,698 $ 42,650 $ 90,732 $ 85,251
Interest and dividends on investments:        
Taxable interest 7,028 6,735 14,174 13,552
Interest exempt from federal income taxes 371 210 732 385
Dividends 748 553 1,554 2,042
Interest on bank deposits 5 2 11 5
Total interest income 53,850 50,150 107,203 101,235
Interest Expense        
Interest on deposits 1,928 1,880 3,517 4,030
Interest on short-term borrowings 2,100 1,116 4,335 2,074
Interest on subordinated debentures 644 579 1,278 1,148
Interest on other long-term debt 87 205 175 441
Total interest expense 4,759 3,780 9,305 7,693
Net Interest Income 49,091 46,370 97,898 93,542
Provision for credit losses 10,372 3,038 16,898 4,197
Net Interest Income after Provision for Credit Losses 38,719 43,332 81,000 89,345
Noninterest Income        
Net securities gains 28 20 28 125
Trust income 1,320 1,476 2,575 2,897
Service charges on deposit accounts 3,845 3,872 7,553 7,190
Insurance and retail brokerage commissions 1,985 2,178 3,944 4,373
Income from bank owned life insurance 1,311 1,378 2,607 2,732
Gain on sale of mortgage loans 932 585 1,615 1,024
Gain on sale of other loans and assets 466 396 661 620
Card-related interchange income 3,784 3,729 7,341 7,147
Derivatives mark to market (531) 593 (1,545) 363
Derivative Fee Income 800 283 1,260 643
Other income 1,618 1,837 3,234 3,424
Total noninterest income 15,558 16,347 29,273 30,538
Noninterest Expense        
Salaries and employee benefits 19,888 22,001 41,565 43,893
Net occupancy expense 3,186 3,316 6,667 7,227
Furniture and equipment expense 2,882 2,630 5,749 5,310
Data processing expense 1,788 1,509 3,547 2,947
Pennsylvania shares tax expense 1,092 1,110 1,850 1,904
Intangible amortization 114 156 251 312
Collection and repossession expense 474 917 1,043 1,428
Other professional fees and services 913 945 1,704 1,875
FDIC insurance 1,062 1,025 2,100 2,084
Loss on sale or write-down of assets 345 1,635 441 1,897
Litigation and operational losses 635 323 879 1,323
Other operating expenses 5,031 5,067 9,758 10,288
Total noninterest expense 37,410 40,634 75,554 80,488
Income Before Income Taxes 16,867 19,045 34,719 39,395
Income tax provision 4,860 5,598 10,239 11,727
Net Income $ 12,007 $ 13,447 $ 24,480 $ 27,668
Average Shares Outstanding (in shares) 88,831,758 88,922,392 88,835,923 89,893,662
Average Shares Outstanding Assuming Dilution (in shares) 88,838,614 88,939,003 88,840,683 89,903,550
Per Share Data:        
Basic Earnings per Share (in dollars per share) $ 0.14 $ 0.15 $ 0.28 $ 0.31
Diluted Earnings per Share (in dollars per share) 0.14 0.15 0.28 0.31
Cash Dividends Declared per Common Share (in dollars per share) $ 0.07 $ 0.07 $ 0.14 $ 0.14