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CONSOLIDATED STATEMENT OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
INTEREST AND DIVIDEND INCOME:        
Loans, including fees $ 7,277 $ 6,294 $ 14,045 $ 12,608
Investment securities:        
Taxable 1,507 1,517 2,950 2,991
Tax-exempt 1,162 1,383 2,429 2,788
Dividend and other interest income 72 86 134 178
TOTAL INTEREST AND DIVIDEND INCOME 10,018 9,280 19,558 18,565
INTEREST EXPENSE:        
Deposits 760 934 1,551 1,895
Short-term borrowings 22 28 47 62
Long-term borrowings, FHLB 482 620 1,001 1,240
TOTAL INTEREST EXPENSE 1,264 1,582 2,599 3,197
NET INTEREST INCOME 8,754 7,698 16,959 15,368
PROVISION FOR LOAN LOSSES 575 600 1,075 1,200
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 8,179 7,098 15,884 14,168
NON-INTEREST INCOME:        
Service charges 538 458 980 905
Securities gains, net 1,274 170 2,260 759
Bank-owned life insurance 144 133 282 401
Gain on sale of loans 302 343 653 526
Insurance commissions 247 316 511 758
Brokerage commissions 299 247 547 459
Other 731 614 1,035 1,236
TOTAL NON-INTEREST INCOME 3,535 2,281 6,268 5,044
NON-INTEREST EXPENSE:        
Salaries and employee benefits 3,442 2,850 6,510 5,867
Occupancy 397 318 748 646
Furniture and equipment 412 357 820 703
Pennsylvania shares tax 208 167 392 336
Amortization of investment in limited partnerships 166 166 331 331
Federal Deposit Insurance Corporation deposit insurance 119 115 248 238
Marketing 120 140 215 273
Intangible amortization 31   31  
Other 2,070 1,230 3,521 2,413
TOTAL NON-INTEREST EXPENSE 6,965 5,343 12,816 10,807
INCOME BEFORE INCOME TAX PROVISION 4,749 4,036 9,336 8,405
INCOME TAX PROVISION 1,090 638 1,993 1,318
NET INCOME $ 3,659 $ 3,398 $ 7,343 $ 7,087
EARNINGS PER SHARE - BASIC (in dollars per share) $ 0.88 $ 0.89 $ 1.84 $ 1.85
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 0.88 $ 0.89 $ 1.84 $ 1.85
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares) 4,151,035 3,837,579 3,995,716 3,837,391
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares) 4,151,035 3,837,579 3,995,716 3,837,391
DIVIDENDS DECLARED PER SHARE (in dollars per share) $ 0.47 $ 0.47 $ 1.19 $ 0.94