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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest Income:        
Interest and fees on loans $ 10,164 $ 9,574 $ 20,046 $ 19,095
Interest and dividends on investment securities: Taxable 862 757 1,655 1,454
Interest and dividends on investment securities: Exempt from federal taxes 218 236 435 478
Interest on cash and cash equivalents 45 94 66 128
Total interest and dividend income 11,289 10,661 22,202 21,155
Interest Expense:        
Interest on NOW, money market and savings 994 588 1,824 1,072
Interest on time deposits 333 313 658 614
Interest on brokered deposits 414 94 613 186
Interest on FHLB advances 239 168 540 337
Interest on repurchase agreements 6 7 12 13
Interest on junior subordinated debentures 113 95 218 187
Interest on subordinated debt 103 103 207 207
Interest on other borrowings 19 14 35 28
Total interest expense 2,221 1,382 4,107 2,644
Net interest income 9,068 9,279 18,095 18,511
Provision for credit losses 375 585 750 910
Net interest income after provision for credit losses 8,693 8,694 17,345 17,601
Non-interest Income:        
Service charges 261 291 574 654
Wealth management 512 471 947 845
Mortgage banking 76 14 137 50
Increase in cash surrender value of BOLI 52 55 104 110
Gain on sale of investment securities, net   25   25
Gain on sale of loans 10 97 10 97
Gains from insurance proceeds       80
Other fees 421 469 833 867
Total non-interest income 1,332 1,422 2,605 2,728
Non-interest Expense:        
Salaries and employee benefits 4,261 3,724 8,033 7,365
Furniture and equipment 550 505 1,039 1,001
Occupancy 634 656 1,331 1,375
Professional and consulting 424 456 827 849
Advertising and marketing 204 274 386 440
Printing and supplies 70 86 123 136
FDIC insurance 122 150 240 345
PA shares tax 243 233 485 458
Telecommunications 84 88 165 178
Postage 24 27 65 62
Loss on sale or write down of OREO, net 140 115 140 114
Due diligence and merger expense   26   77
Other expenses 784 744 1,436 1,429
Total non-interest expense 7,540 7,084 14,270 13,829
Income before income tax expense 2,485 3,032 5,680 6,500
Income tax expense 436 746 1,018 1,773
Net income $ 2,049 $ 2,286 $ 4,662 $ 4,727
Earnings per common share:        
Basic $ 0.48 $ 0.54 $ 1.09 $ 1.11
Diluted 0.47 0.53 1.08 1.10
Cash dividends per common share $ 0.07 $ 0.07 $ 0.14 $ 0.14
Weighted average common shares outstanding:        
Basic 4,298,409 4,257,633 4,294,758 4,252,207
Diluted 4,314,418 4,292,411 4,311,696 4,283,424