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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
INTEREST INCOME        
Interest and fees on loans $ 8,486 $ 7,989 $ 16,662 $ 16,143
Interest and dividend income on securities:        
Taxable 1,716 1,360 3,287 2,600
Tax-exempt 849 862 1,685 1,702
Dividends 11 12 24 24
Dividend income on restricted investment in bank stocks 49 27 70 53
Interest on interest-bearing deposits in other banks   9 12 12
Total interest income 11,111 10,259 21,740 20,534
INTEREST EXPENSE        
Interest on deposits 706 783 1,391 1,578
Interest on short-term borrowings 182 20 210 40
Interest on long-term borrowings 168 211 358 428
Interest on subordinated debt 274 274 544 547
Total interest expense 1,330 1,288 2,503 2,593
Net interest income 9,781 8,971 19,237 17,941
Provision for loan losses 218 135 437 270
Net interest income after provision for loan losses 9,563 8,836 18,800 17,671
NON-INTEREST INCOME        
Trust department 268 265 518 518
Service charges and fees 549 481 1,058 856
Increase in cash surrender value of life insurance 148 150 296 299
ATM fees and debit card income 558 568 1,067 1,084
Net (losses) gains on sales of mortgage loans   308 (34) 662
Net securities (losses) gains (68) 28 (131) 143
Other 59 65 129 178
Total non-interest income 1,514 1,865 2,903 3,740
NON-INTEREST EXPENSE        
Salaries and employee benefits 3,462 3,461 7,016 6,761
Occupancy, net 478 483 970 980
Furniture and equipment expense 147 142 302 280
Computer expense 358 315 728 585
Professional services 370 273 668 532
Pennsylvania shares tax 324 313 648 626
FDIC insurance, net 120 120 257 207
ATM and debit card fees 242 283 370 483
Data processing fees 251 323 509 617
Foreclosed assets held for resale expense, net       3
Advertising 118 109 190 181
Other 725 725 1,453 1,489
Total non-interest expense 6,595 6,547 13,111 12,744
Income before income tax expense 4,482 4,154 8,592 8,667
Income tax expense 660 549 1,227 1,184
NET INCOME $ 3,822 $ 3,605 $ 7,365 $ 7,483
Net income per share:        
Basic $ 0.64 $ 0.61 $ 1.24 $ 1.27
Diluted 0.64 0.61 1.24 1.27
Dividends per share $ 0.28 $ 0.27 $ 0.56 $ 0.55