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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Taxable $ 18,875 $ 15,043 $ 36,994 $ 29,409
Nontaxable 828 457 1,727 866
Interest-bearing deposits with financial institutions 121 80 152 113
Restricted investments in bank stock 75 33 181 64
Investment securities:        
U.S. government agency and corporations 1,475 1,614 2,995 3,123
States and political subdivisions (nontaxable) 1,160 1,388 2,377 2,769
States and political subdivisions (taxable) 445 450 891 900
Total interest income 22,979 19,065 45,317 37,244
Interest expense:        
Deposits 6,607 950 11,225 1,772
Secured borrowings 118 (31) 229 34
Other short-term borrowings 772 1 1,356 1
Total interest expense 7,497 920 12,810 1,807
Net interest income 15,482 18,145 32,507 35,437
Provision for credit losses on loans 675 525 855 1,050
Provision (credit) for credit losses on unfunded loan commitments (50) (7) 175 (18)
Net interest income after provision for credit losses 14,857 17,627 31,477 34,405
Other income:        
Earnings on bank-owned life insurance 324 319 645 638
Gain (loss) on write-down, sale or disposal of:        
Loans 242 477 406 1,190
Available-for-sale debt securities 0 0 (1) 0
Premises and equipment (163) 22 (165) (134)
Total other income 4,535 4,256 9,023 8,810
Other expenses:        
Salaries and employee benefits 6,430 6,941 12,945 13,655
Premises and equipment 2,250 1,893 4,377 3,818
Data processing and communication 699 618 1,376 1,331
Advertising and marketing 478 489 1,371 1,270
Professional services 1,074 826 1,999 1,545
Automated transaction processing 476 440 905 809
Office supplies and postage 197 178 378 357
PA shares tax 324 441 291 601
Loan collection 46 30 59 65
Other real estate owned 1 29 2 3
FDIC assessment 393 136 561 373
Other 1,057 786 2,017 1,645
Total other expenses 13,425 12,807 26,281 25,472
Income before income taxes 5,967 9,076 14,219 17,743
Provision for income taxes 605 1,412 1,817 2,556
Net income $ 5,362 $ 7,664 $ 12,402 $ 15,187
Per share data:        
Net income - basic (in dollars per share) $ 0.95 $ 1.35 $ 2.19 $ 2.68
Net income - diluted (in dollars per share) 0.94 1.35 2.18 2.67
Dividends (in dollars per share) $ 0.36 $ 0.33 $ 0.72 $ 0.66
Deposit Account [Member]        
Other income:        
Other Income $ 1,001 $ 836 $ 1,922 $ 1,634
Credit and Debit Card [Member]        
Other income:        
Other Income 1,168 1,114 2,419 2,289
Bank Servicing [Member]        
Other income:        
Other Income 284 317 582 758
Fiduciary and Trust [Member]        
Other income:        
Other Income 718 613 1,413 1,230
Investment Advisory, Management and Administrative Service [Member]        
Other income:        
Other Income 227 246 450 513
Financial Service, Other [Member]        
Other income:        
Other Income $ 734 $ 312 $ 1,352 $ 692