XML 53 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Interest Income:        
Interest and fees on loans and leases $ 4,857 $ 4,875 $ 9,662 $ 9,699
Interest and dividends on investment securities: Taxable 739 720 1,449 1,401
Interest and dividends on investment securities: Exempt from federal taxes 275 275 551 532
Interest on cash and cash equivalents 6 17 17 29
Total interest and dividend income 5,877 5,887 11,679 11,661
Interest Expense:        
Interest on NOW, money market and savings 132 188 287 382
Interest on time deposits 194 277 417 568
Interest in brokered deposits 5   5  
Interest on FHLB advances 149 148 295 354
Interest on repurchase agreements 9 11 19 25
Interest on junior subordinated debentures 73 76 146 152
Interest on other borrowings 19 19 37 38
Total interest expense 581 719 1,206 1,519
Net interest income 5,296 5,168 10,473 10,142
Provision for credit losses 255 375 630 555
Net interest income after provision for credit losses 5,041 4,793 9,843 9,587
Non-interest Income:        
Service charges 302 315 632 660
Wealth management 325 301 636 592
Increase in cash surrender value of BOLI 57 58 115 116
Gains on sale of investment securities, net 102 155 337 214
Gain on sale of SBA loans   16   163
Other fees 328 314 613 613
Total non-interest income 1,114 1,159 2,333 2,358
Non-interest Expense:        
Salaries and employee benefits 2,472 2,251 4,975 4,615
Furniture and equipment 332 280 663 564
Occupancy 521 492 1,140 1,011
Professional and consulting 306 263 624 580
Advertising and marketing 196 167 351 327
Printing and supplies 48 47 87 88
FDIC insurance 120 158 232 263
PA shares tax 150 153 300 307
Telecommunications 63 57 120 115
Postage 22 20 42 41
Loss on sale or write down of OREO 1 18 7 28
Other expenses 443 366 827 721
Total non-interest expense 4,674 4,272 9,368 8,660
Income before income tax expense 1,481 1,680 2,808 3,285
Income tax expense 361 430 684 860
Net income 1,120 1,250 2,124 2,425
Preferred stock dividends and accretion of discount 33 36 70 73
Net income available to Common Shareholders $ 1,087 $ 1,214 $ 2,054 $ 2,352
Earnings per common share:        
Basic $ 0.39 $ 0.44 $ 0.74 $ 0.86
Diluted $ 0.38 $ 0.44 $ 0.73 $ 0.85
Cash dividends per common share $ 0.07 $ 0.07 $ 0.14 $ 0.14
Weighted average common shares outstanding:        
Basic 2,763,079 2,740,756 2,760,658 2,733,051
Diluted 2,809,851 2,773,637 2,806,164 2,767,847