XML 15 R4.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
INTEREST AND DIVIDEND INCOME:    
Loans, including fees $ 14,869 $ 12,193
Investment securities:    
Taxable 934 546
Tax-exempt 174 241
Dividend and other interest income 457 221
TOTAL INTEREST AND DIVIDEND INCOME 16,434 13,201
INTEREST EXPENSE:    
Deposits 2,300 1,222
Short-term borrowings 605 224
Long-term borrowings 851 602
TOTAL INTEREST EXPENSE 3,756 2,048
NET INTEREST INCOME 12,678 11,153
PROVISION FOR LOAN LOSSES 360 160
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 12,318 10,993
NON-INTEREST INCOME:    
Net debt securities gains (losses), available for sale 13 (9)
Net equity securities gains (losses) 43 (34)
Net securities gains, trading 10 3
Bank-owned life insurance 168 173
Gain on sale of loans 316 255
Other 375 349
TOTAL NON-INTEREST INCOME 2,254 2,081
NON-INTEREST EXPENSE:    
Salaries and employee benefits 5,501 5,048
Occupancy 779 741
Furniture and equipment 752 747
Software amortization 207 65
Pennsylvania shares tax 293 277
Professional fees 522 566
Federal Deposit Insurance Corporation deposit insurance 268 202
Marketing 102 251
Intangible amortization 71 80
Other 1,319 1,300
TOTAL NON-INTEREST EXPENSE 9,814 9,277
INCOME BEFORE INCOME TAX PROVISION 4,758 3,797
INCOME TAX PROVISION 812 589
CONSOLIDATED NET INCOME 3,946 3,208
Less: Net loss attributable to noncontrolling interest 2 (1)
NET INCOME ATTRIBUTABLE TO PENNS WOODS BANCORP, INC. $ 3,944 $ 3,209
Earnings per share - basic (in dollars per share) $ 0.84 $ 0.68
Earnings per share - diluted (in dollars per share) $ 0.84 $ 0.68
Weighted average shares outstanding - basic (in shares) 4,691,752 4,689,376
Weighted average shares outstanding - diluted (in shares) 4,691,752 4,689,376
Dividends declared per share (in dollars per share) $ 0.47 $ 0.47
Deposit Account    
NON-INTEREST INCOME:    
Service charges, insurance commissions, brokerage commissions, and debit card fees $ 562 $ 551
Insurance Commissions    
NON-INTEREST INCOME:    
Service charges, insurance commissions, brokerage commissions, and debit card fees 134 117
Brokerage Commissions    
NON-INTEREST INCOME:    
Service charges, insurance commissions, brokerage commissions, and debit card fees 323 343
Debit Card    
NON-INTEREST INCOME:    
Service charges, insurance commissions, brokerage commissions, and debit card fees $ 310 $ 333