Susquehanna Bancshares has reported a net income of $29.2 million for the second quarter of 2008, compared to $9.8 million for the same quarter of 2007.

Susquehanna’s second quarter 2007 earnings included a pre-tax charge of $11.8 million related to a restructuring of its bank investment portfolio.

The company’s net interest margin for the quarter decreased one basis point to 3.66% as against 3.67% in the second quarter of 2007.

Net income for the first six months of 2008 was $57.2 million, or $0.67 per share, compared to $30.5 million, or $0.59 per share for the same period of 2007.

William Reuter, chairman and CEO of Susquehanna Bancshares, said: While current economic challenges have had an impact on our loan portfolio through increasing credit costs, we’ve been able to maintain stable operating earnings, supported by the strong geographical markets where we operate.