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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest and fees on loans and leases $ 18,320 $ 14,565
Interest and dividends on securities:    
Taxable 3,627 3,077
Tax-exempt 534 587
Dividends 226 273
Total interest and dividends on securities 4,387 3,937
Interest on interest-bearing deposits in other banks 178 177
Total interest income 22,885 18,679
Interest expense    
Interest on deposits 7,543 4,377
Interest on borrowed funds:    
Federal Reserve Discount Window advances 300
Federal Home Loan Bank of Pittsburgh advances 1,623 2,551
Junior subordinated debentures 190 166
Total interest on borrowed funds 2,113 2,717
Total interest expense 9,656 7,094
Net interest income before provision for credit losses - loans and leases 13,229 11,585
Provision for credit losses - loans and leases 1,486 975
Net interest income after provision for credit losses - loans and leases 11,743 10,610
Non-interest income    
Deposit service charges 1,070 1,064
Net gain on the sale of available-for-sale debt securities (0) 162
Net loss on equity securities (413) (508)
Income from cash surrender value of bank-owned life insurance 226 197
Wealth management services revenue 304 238
Other 441 518
Total non-interest income 1,628 1,671
Non-interest expense    
Salaries and employee benefits 5,193 5,395
Occupancy expense 575 521
Equipment expense 238 272
Advertising expense 144 209
Data processing expense 969 998
Regulatory assessments 302 213
Bank shares tax 275 205
Professional fees 317 302
Credit to provision for unfunded commitments (255) (269)
Contributions 253 19
Merger and acquisition expenses 284
Other operating expenses 892 1,056
Total non-interest expense 9,187 8,921
Income before income tax expense 4,184 3,360
Income tax expense 652 697
Net income $ 3,532 $ 2,663
Earnings per share    
Basic (in dollars per share) $ 0.18 $ 0.14
Diluted (in dollars per share) 0.18 0.14
Cash dividends declared per common share (in dollars per share) $ 0.09 $ 0.09
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:    
Basic (in shares) 19,793,235 19,682,357
Diluted (in shares) 19,795,213 19,690,859