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CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
INTEREST INCOME:        
Interest and fees on loans $ 7,248 $ 7,094 $ 21,416 $ 21,200
Interest-bearing deposits with banks 33 25 103 51
Investment securities:        
Taxable 798 805 2,317 2,542
Nontaxable 749 844 2,398 2,526
Dividends 35 40 168 159
TOTAL INTEREST INCOME 8,863 8,808 26,402 26,478
INTEREST EXPENSE:        
Deposits 1,044 1,092 3,088 3,291
Borrowed funds 174 142 521 451
TOTAL INTEREST EXPENSE 1,218 1,234 3,609 3,742
NET INTEREST INCOME 7,645 7,574 22,793 22,736
Provision for loan losses 120 150 360 480
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 7,525 7,424 22,433 22,256
NON-INTEREST INCOME:        
Service charges 1,054 1,098 3,058 3,239
Trust 149 151 523 528
Brokerage and insurance 181 141 563 398
Gains on loans sold 85 40 183 110
Investment securities gains, net 129 242 430 488
Earnings on bank owned life insurance 158 124 464 366
Other 109 128 327 337
TOTAL NON-INTEREST INCOME 1,865 1,924 5,548 5,466
NON-INTEREST EXPENSES:        
Salaries and employee benefits 3,069 2,790 9,118 8,600
Occupancy 347 313 1,064 967
Furniture and equipment 108 86 323 280
Professional fees 202 207 614 649
FDIC insurance 116 116 348 345
Pennsylvania shares tax 201 101 602 485
Merger and acquisition 282 187 405 237
ORE expenses 328 106 686 243
Other 1,199 1,161 3,455 3,352
TOTAL NON-INTEREST EXPENSES 5,852 5,067 16,615 15,158
Income before provision for income taxes 3,538 4,281 11,366 12,564
Provision for income taxes 681 913 2,200 2,655
NET INCOME $ 2,857 $ 3,368 $ 9,166 $ 9,909
PER COMMON SHARE DATA:        
Net Income - Basic (in dollars per share) $ 0.95 $ 1.11 $ 3.04 $ 3.26
Net Income - Diluted (in dollars per share) 0.95 1.11 3.03 3.26
Cash Dividends Paid (in dollars per share) $ 0.510 $ 1.000 $ 1.320 $ 1.772
Number of shares used in computation - basic (in shares) 3,011,687 3,035,214 3,019,202 3,038,973
Number of shares used in computation - diluted (in shares) 3,013,151 3,036,700 3,020,670 3,040,400