XML 21 R4.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
INTEREST AND DIVIDEND INCOME:    
Loans, including fees $ 14,657 $ 14,869
Investment securities:    
Taxable 1,010 934
Tax-exempt 145 174
Dividend and other interest income 349 457
TOTAL INTEREST AND DIVIDEND INCOME 16,161 16,434
INTEREST EXPENSE:    
Deposits 3,035 2,300
Short-term borrowings 22 605
Long-term borrowings 943 851
TOTAL INTEREST EXPENSE 4,000 3,756
NET INTEREST INCOME 12,161 12,678
PROVISION FOR LOAN LOSSES 750 360
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 11,411 12,318
NON-INTEREST INCOME:    
Net debt securities gains, available for sale 21 13
Net equity securities gains 20 43
Net securities (losses) gains, trading (14) 10
Bank-owned life insurance 192 168
Gain on sale of loans 444 316
Other 455 375
TOTAL NON-INTEREST INCOME 2,437 2,254
NON-INTEREST EXPENSE:    
Salaries and employee benefits 5,667 5,501
Occupancy 702 779
Furniture and equipment 860 752
Software amortization 250 207
Pennsylvania shares tax 285 293
Professional fees 622 522
Federal Deposit Insurance Corporation deposit insurance 194 268
Marketing 53 102
Intangible amortization 62 71
Other 1,415 1,319
TOTAL NON-INTEREST EXPENSE 10,110 9,814
INCOME BEFORE INCOME TAX PROVISION 3,738 4,758
INCOME TAX PROVISION 661 812
CONSOLIDATED NET INCOME 3,077 3,946
Less: Net income attributable to noncontrolling interest 4 2
NET INCOME ATTRIBUTABLE TO PENNS WOODS BANCORP, INC. $ 3,073 $ 3,944
Earnings per share - basic (in dollars per share) $ 0.44 $ 0.56
Earnings per share - diluted (in dollars per share) $ 0.43 $ 0.56
Weighted average shares outstanding - basic (in shares) 7,040,740 7,037,628
Weighted average shares outstanding - diluted (in shares) 7,102,990 7,037,628
Dividends declared per share (in dollars per share) $ 0.32 $ 0.31
Service charges    
NON-INTEREST INCOME:    
Service charges, insurance commissions, brokerage commissions, and debit card fees $ 549 $ 562
Insurance Commissions    
NON-INTEREST INCOME:    
Service charges, insurance commissions, brokerage commissions, and debit card fees 127 134
Brokerage Commissions    
NON-INTEREST INCOME:    
Service charges, insurance commissions, brokerage commissions, and debit card fees 369 323
Debit Card    
NON-INTEREST INCOME:    
Service charges, insurance commissions, brokerage commissions, and debit card fees $ 274 $ 310