XML 19 R4.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest Income      
Interest and fees on loans and leases $ 490,710 $ 302,207 $ 267,599
Interest and dividends on investments:      
Taxable interest 26,331 24,668 24,723
Interest exempt from federal income taxes 457 479 595
Dividends 3,009 877 521
Interest on bank deposits 9,491 1,722 400
Total interest income 529,998 329,953 293,838
Interest Expense      
Interest on deposits 112,406 6,714 5,749
Interest on short-term borrowings 21,747 1,999 99
Interest on subordinated debentures 9,794 8,595 8,555
Interest on other long-term debt 170 198 649
Interest Expense, Lessee, Assets under Capital Lease 205 226 245
Total interest expense 144,322 17,732 15,297
Net Interest Income 385,676 312,221 278,541
Provision for credit losses 4,160 21,106 (1,376)
Provision for credit losses - acquisition day 1 non-PCD 10,653 0 0
Net Interest Income after Provision for Credit Losses 370,863 291,115 279,917
Noninterest Income      
Net securities (losses) gains (103) 2 16
Trust income 10,516 10,518 11,111
Service charges on deposit accounts 21,437 19,641 17,984
Insurance and retail brokerage commissions 9,628 8,857 8,502
Income from bank owned life insurance 4,875 5,459 6,433
Gain on sale of mortgage loans 3,951 5,276 13,555
Gain on sale of other loans and assets (6,744) (6,036) (8,130)
Card- related interchange income 28,640 27,603 27,954
Derivative, Gain (Loss) on Derivative, Net 14 368 2,344
Swap Fee Income 1,519 4,685 2,543
Other income 9,388 10,263 8,185
Total noninterest income 96,609 98,708 106,757
Noninterest Expense      
Salaries and employee benefits 142,871 126,031 119,506
Net occupancy 19,221 18,037 16,586
Furniture and equipment 17,308 15,582 15,642
Data processing 15,010 13,922 12,373
Advertising and promotion 5,713 5,031 4,983
Pennsylvania shares tax 4,364 4,447 4,604
Intangible amortization 4,983 3,196 3,497
Other professional fees and services 5,919 4,894 4,501
FDIC insurance 6,260 2,871 2,529
Asset Impairment Charges 204 343 303
Litigation and operational losses 4,641 2,834 2,324
Merger and acquisition related 9,034 1,702 0
Other operating expenses 34,389 30,748 27,009
Total noninterest expense 269,917 229,638 213,857
Income before income taxes 197,555 160,185 172,817
Income tax provision 40,492 32,004 34,560
Net Income $ 157,063 $ 128,181 $ 138,257
Average Shares Outstanding (in shares) 101,556,427 93,612,043 95,583,890
Average Shares Outstanding Assuming Dilution (in shares) 101,822,201 93,887,447 95,840,285
Per Share Data:      
Basic Earnings Per Share (in dollars per share) $ 1.55 $ 1.37 $ 1.45
Diluted Earnings Per Share (in dollars per share) 1.54 1.37 1.44
Cash Dividends Declared per Common Share (in dollars per share) $ 0.495 $ 0.475 $ 0.455