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CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
INTEREST AND DIVIDEND INCOME:        
Loans, including fees $ 10,541 $ 9,862 $ 31,362 $ 28,937
Investment securities:        
Taxable 601 829 1,825 2,728
Tax-exempt 329 676 1,203 2,187
Dividend and other interest income 189 156 666 597
TOTAL INTEREST AND DIVIDEND INCOME 11,660 11,523 35,056 34,449
INTEREST EXPENSE:        
Deposits 909 800 2,624 2,328
Short-term borrowings 7 31 41 78
Long-term borrowings 497 458 1,481 1,476
TOTAL INTEREST EXPENSE 1,413 1,289 4,146 3,882
NET INTEREST INCOME 10,247 10,234 30,910 30,567
PROVISION FOR LOAN LOSSES 258 520 866 1,820
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 9,989 9,714 30,044 28,747
NON-INTEREST INCOME:        
Service charges 585 621 1,678 1,772
Net securities gains, available for sale 253 526 1,174 1,713
Net securities gains (losses), trading 8 (33) 54 (37)
Bank-owned life insurance 172 182 516 541
Gain on sale of loans 658 524 1,691 1,305
Insurance commissions 198 185 604 623
Brokerage commissions 290 297 817 836
Other 918 835 2,723 2,701
TOTAL NON-INTEREST INCOME 3,082 3,137 9,257 9,454
NON-INTEREST EXPENSE:        
Salaries and employee benefits 4,507 4,302 13,433 13,073
Occupancy 544 529 1,630 1,721
Furniture and equipment 662 686 2,042 1,924
Pennsylvania shares tax 220 244 698 711
Amortization of investment in limited partnerships 46 165 266 496
Federal Deposit Insurance Corporation deposit insurance 202 209 670 654
Marketing 173 160 568 434
Intangible amortization 90 73 276 235
Other 2,295 2,162 6,882 6,171
TOTAL NON-INTEREST EXPENSE 8,739 8,530 26,465 25,419
INCOME BEFORE INCOME TAX PROVISION 4,332 4,321 12,836 12,782
INCOME TAX PROVISION 1,273 957 3,307 2,630
NET INCOME $ 3,059 $ 3,364 $ 9,529 $ 10,152
EARNINGS PER SHARE - BASIC AND DILUTED (in dollars per share) $ 0.65 $ 0.71 $ 2.01 $ 2.12
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC AND DILUTED (in shares) 4,733,800 4,761,576 4,735,844 4,780,776
DIVIDENDS DECLARED PER SHARE (in dollars per share) $ 0.47 $ 0.47 $ 1.41 $ 1.41