Susquehanna Bank: Earnings reflect success of mergers
Susquehanna Bancshares Inc. last week reported results for its fourth fiscal quarter of 2012 and for the full year.
The bank holding company reported net income of $43.2 million, or 23 cents per diluted share, compared with net income of $19.1 million, or 12 cents per diluted share, in the fourth quarter of 2011.
For the year, Susquehanna reported net income of $141.2 million, or 77 cents per diluted share, compared with $54.9 million, or 40 cents per diluted share, for 2011.
The results reflect Susquehanna’s “remarkable success” in integrating Abington Bancorp Inc. and Tower Bancorp Inc. into its business, Chairman and CEO William Reuter said in a statement. Susquehanna completed those acquisitions in October 2011 and February 2012, respectively.
Susquehanna, based in Lititz, is the parent company of Susquehanna Bank.