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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income        
Interest and fees on loans $ 9,488 $ 9,501 $ 28,313 $ 26,820
Interest and dividends on securities:        
U.S. government agencies 924 899 2,723 2,675
State and political subdivisions, tax free 37 37 112 95
State and political subdivisions, taxable 713 1,028 2,545 3,079
Other securities 314 211 729 646
Total interest and dividends on securities 1,988 2,175 6,109 6,495
Interest on interest-bearing deposits in other banks 30 17 155 52
Total interest income 11,506 11,693 34,577 33,367
Interest expense        
Interest on deposits 1,901 1,559 6,283 3,760
Interest on Federal Home Loan Bank of Pittsburgh advances 448 715 988 1,774
Interest on subordinated debentures 58 24 171
Interest on junior subordinated debentures 106 106 331 292
Total interest on borrowed funds 554 879 1,343 2,237
Total interest expense 2,455 2,438 7,626 5,997
Net interest income before provision for loan and lease losses 9,051 9,255 26,951 27,370
Provision for loan and lease losses 637 1,149 830 2,749
Net interest income after provision for loan and lease losses 8,414 8,106 26,121 24,621
Non-interest income        
Deposit service charges 797 711 2,203 2,160
Net gain (loss) on the sale of available-for-sale debt securities 379 702 (4)
Net gain (loss) on equity securities 5 (8) 31 (34)
Net gain on the sale of mortgage loans held for sale 69 71 198 171
Net gain on the sale of SBA guaranteed loans 322
Net gain on the sale of other real estate owned 11 20 31
Loan-related fees 80 85 231 245
Income from bank-owned life insurance 134 141 394 413
Merchant services revenue 142 135 391 365
Other 214 185 754 699
Total non-interest income 1,831 1,320 4,924 4,368
Non-interest expense        
Salaries and employee benefits 3,911 3,581 11,634 10,732
Occupancy expense 460 500 1,454 1,629
Equipment expense 332 299 968 936
Advertising expense 228 193 579 519
Data processing expense 742 745 2,312 2,040
Regulatory assessments 21 251 265 648
Bank shares tax 205 278 760 767
Expense of other real estate owned 62 91 127 191
Professional fees 189 241 724 733
Insurance expense 128 130 374 398
Directors fees 236 85 405 256
Other losses 16 28 26 155
Other operating expenses 799 766 2,248 2,382
Total non-interest expense 7,329 7,188 21,876 21,386
Income before income tax expense 2,916 2,238 9,169 7,603
Income tax expense 513 388 1,582 1,322
Net income $ 2,403 $ 1,850 $ 7,587 $ 6,281
Earnings per share        
Basic (in dollars per share) $ 0.12 $ 0.11 $ 0.39 $ 0.37
Diluted (in dollars per share) 0.12 0.11 0.39 0.37
Cash dividends declared per common share (in dollars per share) $ 0.05 $ 0.04 $ 0.15 $ 0.12
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:        
Basic (in shares) 20,168,529 16,818,625 19,678,031 16,791,815
Diluted (in shares) 20,172,282 16,838,547 19,683,522 16,813,948