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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest Income      
Interest and fees on loans $ 267,599 $ 275,189 $ 291,889
Interest and dividends on investments:      
Taxable interest 24,723 24,063 29,773
Interest exempt from federal income taxes 595 1,053 1,591
Dividends 521 686 1,608
Interest on bank deposits 400 218 403
Total interest income 293,838 301,209 325,264
Interest Expense      
Interest on deposits 5,749 21,972 36,725
Interest on short-term borrowings 99 704 8,298
Interest on subordinated debentures 8,555 8,580 9,084
Interest on other long-term debt 649 1,419 1,016
Interest Expense, Lessee, Assets under Capital Lease 245 263 279
Total interest expense 15,297 32,938 55,402
Net Interest Income 278,541 268,271 269,862
Provision for credit losses (1,376) 56,718 14,533
Net Interest Income after Provision for Credit Losses 279,917 211,553 255,329
Noninterest Income      
Net securities gains 16 70 22
Trust income 11,111 9,101 8,321
Service charges on deposit accounts 17,984 16,387 18,926
Insurance and retail brokerage commissions 8,502 7,850 7,583
Income from bank owned life insurance 6,433 6,552 6,002
Gain on sale of mortgage loans 13,555 18,764 7,765
Gain on sale of other loans and assets (8,130) (4,827) (4,793)
Card related interchange income 27,954 23,966 21,677
Derivative, Gain (Loss) on Derivative, Net 2,344 (2,521) (269)
Swap Fee Income 2,543 1,588 3,397
Other income 8,185 7,892 7,268
Total noninterest income 106,757 94,476 85,485
Noninterest Expense      
Salaries and employee benefits 119,506 118,961 112,237
Net occupancy 16,586 17,647 18,923
Furniture and equipment 15,642 15,393 15,160
Data processing 12,373 10,543 10,692
Advertising and promotion 4,983 4,679 4,250
Pennsylvania shares tax 4,604 4,500 4,602
Intangible amortization 3,497 3,689 3,344
Other professional fees and services 4,501 3,886 4,631
FDIC insurance 2,529 2,699 1,219
Asset Impairment Charges 303 680 1,724
Litigation and operational losses 2,324 1,411 1,687
Merger and acquisition related 0 0 3,536
COVID-19 related expenses 449 874 0
Voluntary retirement plan expenses 0 3,422 0
Branch consolidation expense (103) 2,672 0
Other operating expenses 26,663 24,770 27,960
Total noninterest expense 213,857 215,826 209,965
Income before income taxes 172,817 90,203 130,849
Income tax provision 34,560 16,756 25,516
Net Income $ 138,257 $ 73,447 $ 105,333
Average Shares Outstanding (in shares) 95,583,890 97,499,586 98,317,787
Average Shares Outstanding Assuming Dilution (in shares) 95,840,285 97,758,965 98,588,164
Per Share Data:      
Basic Earnings Per Share (in dollars per share) $ 1.45 $ 0.75 $ 1.07
Diluted Earnings Per Share (in dollars per share) 1.44 0.75 1.07
Cash Dividends Declared per Common Share (in dollars per share) $ 0.455 $ 0.440 $ 0.400