XML 65 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statement of Income (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
INTEREST AND DIVIDEND INCOME:      
Interest and fees on loans $ 28,982,000 $ 29,770,000 $ 29,916,000
Interest-bearing deposits with banks 40,000 21,000 81,000
Investment securities:      
Taxable 3,721,000 4,521,000 4,575,000
Nontaxable 3,405,000 3,702,000 3,666,000
Dividends 86,000 71,000 55,000
TOTAL INTEREST AND DIVIDEND INCOME 36,234,000 38,085,000 38,293,000
INTEREST EXPENSE:      
Deposits 5,107,000 6,113,000 7,944,000
Borrowed funds 1,208,000 1,546,000 1,739,000
TOTAL INTEREST EXPENSE 6,315,000 7,659,000 9,683,000
NET INTEREST INCOME 29,919,000 30,426,000 28,610,000
Provision for loan losses 405,000 420,000 675,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 29,514,000 30,006,000 27,935,000
NON-INTEREST INCOME:      
Service charges 4,299,000 4,475,000 4,380,000
Trust 694,000 644,000 665,000
Brokerage and insurance 444,000 392,000 352,000
Investment securities gains, net 441,000 604,000 334,000
Gains on loans sold 443,000 759,000 208,000
Earnings on bank owned life insurance 502,000 507,000 498,000
Other 446,000 456,000 479,000
TOTAL NON-INTEREST INCOME 7,269,000 7,837,000 6,916,000
NON-INTEREST EXPENSES:      
Salaries and employee benefits 11,392,000 11,018,000 9,996,000
Occupancy 1,271,000 1,265,000 1,331,000
Furniture and equipment 492,000 411,000 449,000
Professional fees 781,000 891,000 744,000
Federal depository insurance 450,000 468,000 592,000
Pennsylvania shares tax 640,000 602,000 541,000
Other 4,630,000 4,642,000 4,756,000
TOTAL NON-INTEREST EXPENSES 19,656,000 19,297,000 18,409,000
Income before provision for income taxes 17,127,000 18,546,000 16,442,000
Provision for income taxes 3,752,000 4,331,000 3,610,000
NET INCOME $ 13,375,000 $ 14,215,000 $ 12,832,000
PER COMMON SHARE DATA:      
NET INCOME - BASIC (in dollars per share) $ 4.42 $ 4.65 $ 4.16
NET INCOME - DILUTED (in dollars per share) $ 4.42 $ 4.65 $ 4.16
CASH DIVIDENDS PER SHARE (in dollars per share) $ 1.22 $ 1.51 $ 1.09
Number of shares used in computation - basic (in shares) 3,025,315 3,056,078 3,087,221
Number of shares used in computation - diluted (in shares) 3,026,485 3,057,720 3,087,221