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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest Income      
Interest and fees on loans and leases $ 302,207 $ 267,599 $ 275,189
Interest and dividends on investments:      
Taxable interest 24,668 24,723 24,063
Interest exempt from federal income taxes 479 595 1,053
Dividends 877 521 686
Interest on bank deposits 1,722 400 218
Total interest income 329,953 293,838 301,209
Interest Expense      
Interest on deposits 6,714 5,749 21,972
Interest on short-term borrowings 1,999 99 704
Interest on subordinated debentures 8,595 8,555 8,580
Interest on other long-term debt 198 649 1,419
Interest Expense, Lessee, Assets under Capital Lease 226 245 263
Total interest expense 17,732 15,297 32,938
Net Interest Income 312,221 278,541 268,271
Provision for credit losses 21,106 (1,376) 56,718
Net Interest Income after Provision for Credit Losses 291,115 279,917 211,553
Noninterest Income      
Net securities gains 2 16 70
Trust income 10,518 11,111 9,101
Service charges on deposit accounts 19,641 17,984 16,387
Insurance and retail brokerage commissions 8,857 8,502 7,850
Income from bank owned life insurance 5,459 6,433 6,552
Gain on sale of mortgage loans 5,276 13,555 18,764
Gain on sale of other loans and assets (6,036) (8,130) (4,827)
Card related interchange income 27,603 27,954 23,966
Derivative, Gain (Loss) on Derivative, Net 368 2,344 (2,521)
Swap Fee Income 4,685 2,543 1,588
Other income 10,263 8,185 7,892
Total noninterest income 98,708 106,757 94,476
Noninterest Expense      
Salaries and employee benefits 126,031 119,506 118,961
Net occupancy 18,037 16,586 17,647
Furniture and equipment 15,582 15,642 15,393
Data processing 13,922 12,373 10,543
Advertising and promotion 5,031 4,983 4,679
Pennsylvania shares tax 4,447 4,604 4,500
Intangible amortization 3,196 3,497 3,689
Other professional fees and services 4,894 4,501 3,886
FDIC insurance 2,871 2,529 2,699
Asset Impairment Charges 343 303 680
Litigation and operational losses 2,834 2,324 1,411
Merger and acquisition related 1,702 0 0
COVID-19 related expenses 151 449 874
Voluntary retirement plan expenses 0 0 3,422
Branch consolidation expense (104) (103) 2,672
Other operating expenses 30,701 26,663 24,770
Total noninterest expense 229,638 213,857 215,826
Income before income taxes 160,185 172,817 90,203
Income tax provision 32,004 34,560 16,756
Net Income $ 128,181 $ 138,257 $ 73,447
Average Shares Outstanding (in shares) 93,612,043 95,583,890 97,499,586
Average Shares Outstanding Assuming Dilution (in shares) 93,887,447 95,840,285 97,758,965
Per Share Data:      
Basic Earnings Per Share (in dollars per share) $ 1.37 $ 1.45 $ 0.75
Diluted Earnings Per Share (in dollars per share) 1.37 1.44 0.75
Cash Dividends Declared per Common Share (in dollars per share) $ 0.475 $ 0.455 $ 0.440