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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest Income      
Interest and fees on loans $ 275,189 $ 291,889 $ 257,316
Interest and dividends on investments:      
Taxable interest 24,063 29,773 31,264
Interest exempt from federal income taxes 1,053 1,591 1,646
Dividends 686 1,608 1,859
Interest on bank deposits 218 403 172
Total interest income 301,209 325,264 292,257
Interest Expense      
Interest on deposits 21,972 36,725 21,713
Interest on short-term borrowings 704 8,298 10,741
Interest on subordinated debentures 8,580 9,084 6,987
Interest on other long-term debt 1,419 1,016 300
Interest Expense, Lessee, Assets under Capital Lease 263 279 294
Total interest expense 32,938 55,402 40,035
Net Interest Income 268,271 269,862 252,222
Provision for credit losses 56,718 14,533 12,531
Net Interest Income after Provision for Credit Losses 211,553 255,329 239,691
Noninterest Income      
Net securities gains 70 22 8,102
Trust income 9,101 8,321 7,901
Service charges on deposit accounts 16,387 18,926 18,175
Insurance and retail brokerage commissions 7,850 7,583 7,426
Income from bank owned life insurance 6,552 6,002 6,686
Gain on sale of mortgage loans 18,764 7,765 5,436
Gain on sale of other loans and assets (4,827) (4,793) (5,273)
Card related interchange income 23,966 21,677 20,187
Derivative, Gain (Loss) on Derivative, Net (2,521) (269) 787
Swap Fee Income 1,588 3,397 1,874
Other income 7,892 7,268 6,790
Total noninterest income 94,476 85,485 88,637
Noninterest Expense      
Salaries and employee benefits 118,961 112,237 105,115
Net occupancy 17,647 18,923 17,219
Furniture and equipment 15,393 15,160 14,247
Data processing 10,543 10,692 10,470
Advertising and promotion 4,679 4,250 3,956
Pennsylvania shares tax 4,500 4,602 4,875
Intangible amortization 3,689 3,344 3,217
Other professional fees and services 3,886 4,631 4,473
FDIC insurance 2,699 1,219 2,007
Asset Impairment Charges 680 1,724 1,080
Litigation and operational losses 1,411 1,687 1,162
Merger and acquisition related 0 3,536 1,637
COVID-19 related expenses 874 0 0
Voluntary retirement plan expenses 3,422 0 0
Branch consolidation expense 2,672 0 0
Other operating expenses 24,770 27,960 26,098
Total noninterest expense 215,826 209,965 195,556
Income before income taxes 90,203 130,849 132,772
Income tax provision 16,756 25,516 25,274
Net Income $ 73,447 $ 105,333 $ 107,498
Average Shares Outstanding (in shares) 97,499,586 98,317,787 99,036,163
Average Shares Outstanding Assuming Dilution (in shares) 97,758,965 98,588,164 99,223,513
Per Share Data:      
Basic Earnings Per Share (in dollars per share) $ 0.75 $ 1.07 $ 1.09
Diluted Earnings Per Share (in dollars per share) 0.75 1.07 1.08
Cash Dividends Declared per Common Share (in dollars per share) $ 0.44 $ 0.40 $ 0.35
Securities held to maturity, fair value $ 369,851 $ 338,718