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CONSOLIDATED STATEMENT OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
INTEREST AND DIVIDEND INCOME:        
Loans, including fees $ 9,298 $ 9,211 $ 27,023 $ 23,256
Investment securities:        
Taxable 1,198 1,570 4,062 4,520
Tax-exempt 837 1,124 2,660 3,553
Dividend and other interest income 127 74 401 208
TOTAL INTEREST AND DIVIDEND INCOME 11,460 11,979 34,146 31,537
INTEREST EXPENSE:        
Deposits 748 855 2,247 2,406
Short-term borrowings 5 16 32 63
Long-term borrowings 489 479 1,431 1,480
TOTAL INTEREST EXPENSE 1,242 1,350 3,710 3,949
NET INTEREST INCOME 10,218 10,629 30,436 27,588
PROVISION FOR LOAN LOSSES 460 600 1,245 1,675
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 9,758 10,029 29,191 25,913
NON-INTEREST INCOME:        
Service charges 620 671 1,822 1,651
Securities gains (losses), net 2,145 (3) 3,025 2,257
Bank-owned life insurance 185 199 736 481
Gain on sale of loans 602 551 1,313 1,204
Insurance commissions 212 286 915 797
Brokerage commissions 282 250 804 797
Other 878 888 2,449 1,923
TOTAL NON-INTEREST INCOME 4,924 2,842 11,064 9,110
NON-INTEREST EXPENSE:        
Salaries and employee benefits 4,126 4,515 12,796 11,025
Occupancy 547 554 1,729 1,302
Furniture and equipment 591 422 1,910 1,242
Pennsylvania shares tax 232 225 738 617
Amortization of investment in limited partnerships 165 165 496 496
Federal Deposit Insurance Corporation deposit insurance 193 173 572 421
Marketing 144 156 380 371
Intangible amortization 82 91 263 122
Other 2,233 2,674 6,494 6,195
TOTAL NON-INTEREST EXPENSE 8,313 8,975 25,378 21,791
INCOME BEFORE INCOME TAX PROVISION 6,369 3,896 14,877 13,232
INCOME TAX PROVISION 1,576 650 3,152 2,643
NET INCOME $ 4,793 $ 3,246 $ 11,725 $ 10,589
EARNINGS PER SHARE - BASIC (in dollars per share) $ 0.99 $ 0.67 $ 2.43 $ 2.48
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 0.99 $ 0.67 $ 2.43 $ 2.48
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares) 4,820,346 4,818,494 4,820,041 4,272,989
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares) 4,820,346 4,818,494 4,820,041 4,272,989
DIVIDENDS DECLARED PER SHARE (in dollars per share) $ 0.47 $ 0.47 $ 1.41 $ 1.66