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CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
INTEREST AND DIVIDEND INCOME:      
Loans, including fees $ 39,134 $ 36,495 $ 32,353
Investment securities:      
Taxable 3,426 5,111 6,034
Tax-exempt 2,795 3,453 4,602
Dividend and other interest income 769 547 310
TOTAL INTEREST AND DIVIDEND INCOME 46,124 45,606 43,299
INTEREST EXPENSE:      
Deposits 3,129 2,995 3,221
Short-term borrowings 116 54 81
Long-term borrowings 1,974 1,913 1,962
TOTAL INTEREST EXPENSE 5,219 4,962 5,264
NET INTEREST INCOME 40,905 40,644 38,035
PROVISION FOR LOAN LOSSES 2,300 2,850 2,275
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 38,605 37,794 35,760
NON-INTEREST INCOME:      
Service charges 2,383 2,419 2,307
Securities gains, available for sale 2,592 3,515 2,417
Securities losses, trading (22) 0 0
Bank-owned life insurance 720 923 677
Gain on sale of loans 1,743 1,803 1,438
Insurance commissions 781 1,146 1,084
Brokerage commissions 1,064 1,077 1,018
Other 3,504 3,625 3,101
TOTAL NON-INTEREST INCOME 12,765 14,508 12,042
NON-INTEREST EXPENSE:      
Salaries and employee benefits 17,023 17,273 15,415
Occupancy 2,248 2,301 1,905
Furniture and equipment 2,622 2,536 1,815
Pennsylvania shares tax 954 907 864
Amortization of investment in limited partnerships 661 661 661
Federal Deposit Insurance Corporation deposit insurance 867 746 594
Marketing 612 532 517
Intangible amortization 311 345 213
Other 8,438 8,589 8,283
TOTAL NON-INTEREST EXPENSE 33,736 33,890 30,267
INCOME BEFORE INCOME TAX PROVISION 17,634 18,412 17,535
INCOME TAX PROVISION 3,736 3,804 3,451
NET INCOME $ 13,898 $ 14,608 $ 14,084
EARNINGS PER SHARE - BASIC AND DILUTED (in dollars per share) $ 2.91 $ 3.03 $ 3.19
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC AND DILUTED (in shares) 4,772,239 4,816,149 4,410,626
DIVIDENDS PER SHARE (in dollars per share) $ 1.88 $ 1.88 $ 2.13