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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income        
Interest and fees on loans $ 9,418 $ 9,031 $ 18,825 $ 17,319
Interest and dividends on securities:        
U.S. government agencies 906 886 1,799 1,776
State and political subdivisions, tax free 38 38 75 58
State and political subdivisions, taxable 811 1,027 1,832 2,051
Other securities 210 240 415 435
Total interest and dividends on securities 1,965 2,191 4,121 4,320
Interest on interest-bearing deposits in other banks 79 12 125 35
Total interest income 11,462 11,234 23,071 21,674
Interest expense        
Interest on deposits 2,144 1,134 4,382 2,201
Interest on borrowed funds:        
Interest on Federal Home Loan Bank of Pittsburgh advances 253 707 540 1,059
Interest on subordinated debentures 57 24 113
Interest on junior subordinated debentures 111 99 225 186
Total interest on borrowed funds 364 863 789 1,358
Total interest expense 2,508 1,997 5,171 3,559
Net interest income before provision for loan and lease losses 8,954 9,237 17,900 18,115
Provision for loan and lease losses 347 880 193 1,600
Net interest income after provision for loan and lease losses 8,607 8,357 17,707 16,515
Non-interest income        
Deposit service charges 721 747 1,406 1,449
Net gain (loss) on the sale of available-for-sale debt securities 163 (4) 323 (4)
Net gain (loss) on equity securities 14 (7) 26 (26)
Net gain on the sale of mortgage loans held for sale 73 51 129 100
Net gain on the sale of SBA guaranteed loans 71 322
Net gain (loss) on the sale of other real estate owned 9 (7) 9 31
Loan-related fees 72 76 151 160
Income from bank-owned life insurance 129 138 260 272
Other 397 464 789 744
Total non-interest income 1,578 1,529 3,093 3,048
Non-interest expense        
Salaries and employee benefits 3,824 3,485 7,723 7,151
Occupancy expense 444 526 994 1,129
Equipment expense 329 323 636 637
Advertising expense 154 213 351 326
Data processing expense 789 647 1,570 1,295
Regulatory assessments 76 196 244 397
Bank shares tax 277 222 555 489
Expense of other real estate owned 14 55 65 100
Professional fees 203 196 535 492
Insurance expense 120 133 246 268
Other losses 1 86 10 127
Other operating expenses 891 884 1,618 1,787
Total non-interest expense 7,122 6,966 14,547 14,198
Income before income tax expense 3,063 2,920 6,253 5,365
Income tax expense 514 508 1,069 934
Net income $ 2,549 $ 2,412 $ 5,184 $ 4,431
Earnings per share        
Basic (in dollars per share) $ 0.13 $ 0.14 $ 0.27 $ 0.26
Diluted (in dollars per share) 0.13 0.14 0.27 0.26
Cash dividends declared per common share (in dollars per share) $ 0.05 $ 0.04 $ 0.10 $ 0.08
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:        
Basic (in shares) 20,129,150 16,792,812 19,428,717 16,778,188
Diluted (in shares) 20,133,850 16,819,286 19,435,076 16,801,426