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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
INTEREST INCOME    
Interest and fees on loans $ 42,747 $ 35,372
Interest and dividend income on securities:    
Taxable 12,311 7,394
Tax-exempt 1,166 3,312
Dividends 56 55
Dividend income on restricted investment in bank stocks 669 264
Interest on interest-bearing deposits in other banks 39 16
Total interest income 56,988 46,413
INTEREST EXPENSE    
Interest on deposits 17,108 5,259
Interest on short-term borrowings 8,774 1,935
Interest on long-term borrowings 896 628
Interest on subordinated debt 1,094 1,091
Total interest expense 27,872 8,913
Net interest income 29,116 37,500
Credit for credit losses (217) (264)
Net interest income after credit for credit losses 29,333 37,764
NON-INTEREST INCOME    
Trust department 931 975
Service charges and fees 2,205 2,193
Increase in cash surrender value of life insurance 621 597
ATM fees and debit card income 2,195 2,146
Net gains (losses) on sales of mortgage loans 65 (7)
Net securities losses (118) (846)
Other 257 273
Total non-interest income 6,156 5,331
NON-INTEREST EXPENSE    
Salaries and employee benefits 16,055 14,554
Occupancy, net 2,119 1,936
Furniture and equipment expense 637 594
Computer expense 1,571 1,493
Professional services 1,440 1,270
Pennsylvania shares tax 861 1,238
FDIC insurance, net 703 490
ATM and debit card fees 1,146 899
Data processing fees 1,304 915
Advertising 528 389
Other 2,881 2,999
Total non-interest expense 29,245 26,777
Income before income tax expense 6,244 16,318
Income tax expense 684 2,294
NET INCOME $ 5,560 $ 14,024
Net income per share:    
Basic $ 0.91 $ 2.35
Diluted 0.91 2.35
Dividends per share $ 1.12 $ 1.12