XML 37 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Interest and Dividend Income:    
Interest and fees on loans and leases $ 22,651 $ 21,186
Interest and dividends on investment securities: Taxable 3,250 4,722
Interest and dividends on investment securities: Exempt from federal taxes 217 64
Interest on cash and cash equivalents 56 78
Total interest and dividend income 26,174 26,050
Interest Expense:    
Interest on NOW, money market and savings 1,045 1,913
Interest on time deposits 2,190 2,992
Interest on FHLBP advances 864 1,500
Interest on repurchase agreements 142 197
Interest on junior subordinated debentures 308 374
Interest on other borrowings 95 86
Total interest expense 4,644 7,062
Net interest income 21,530 18,988
Provision for credit losses 1,480 2,216
Net interest income after provision for credit losses 20,050 16,772
Non-interest Income:    
Service charges 1,143 1,277
Wealth management 785 834
Increase in cash surrender value of BOLI 246 250
Gains on sale of investment securities, net 38 2,007
Gains on sale of SBA loans 281  
Write-down of OREO (23)  
Other fees 1,173 1,062
Total non-interest income 3,643 5,430
Non-interest Expense:    
Salaries and employee benefits 8,776 8,354
Furniture and equipment 1,267 1,393
Occupancy 1,903 1,717
Professional and consulting 1,130 1,166
Marketing 635 533
Printing and supplies 144 158
FDIC insurance 562 809
FHLBP prepayment penalties   560
PA shares tax 516 466
Telephone and fax 209 231
Other expenses 1,583 1,516
Total non-interest expense 16,725 16,903
Income before income tax expense 6,968 5,299
Income tax expense 2,066 1,629
Net income 4,902 3,670
Preferred stock dividends and accretion of discount 779 618
Net income available to common stockholders $ 4,123 $ 3,052
Earnings per common share:    
Basic $ 1.54 $ 1.16
Diluted $ 1.53 $ 1.16
Cash dividends per share $ 0.12 $ 0.12
Weighted average common shares outstanding:    
Basic 2,674,716 2,635,549
Diluted 2,695,207 2,637,174