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CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
INTEREST INCOME:        
Interest and fees on loans $ 8,587 $ 7,129 $ 17,183 $ 14,168
Interest-bearing deposits with banks 64 39 135 70
Investment securities:        
Taxable 959 765 1,903 1,519
Nontaxable 755 801 1,526 1,649
Dividends 61 34 141 133
TOTAL INTEREST INCOME 10,426 8,768 20,888 17,539
INTEREST EXPENSE:        
Deposits 1,072 1,035 2,146 2,044
Borrowed funds 183 172 366 347
TOTAL INTEREST EXPENSE 1,255 1,207 2,512 2,391
NET INTEREST INCOME 9,171 7,561 18,376 15,148
Provision for loan losses 135 120 270 240
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 9,036 7,441 18,106 14,908
NON-INTEREST INCOME:        
Service charges 1,128 1,028 2,230 2,004
Trust 182 180 378 374
Brokerage and insurance 158 255 367 382
Gains on loans sold 70 60 116 98
Investment securities gains, net 128 175 155 301
Earnings on bank owned life insurance 172 154 342 306
Other 145 103 311 218
TOTAL NON-INTEREST INCOME 1,983 1,955 3,899 3,683
NON-INTEREST EXPENSES:        
Salaries and employee benefits 3,900 2,993 7,782 6,049
Occupancy 455 348 900 717
Furniture and equipment 171 87 328 215
Professional fees 266 180 553 412
FDIC insurance 160 116 317 232
Pennsylvania shares tax 240 200 390 401
Amortization of other intangibles 82 0 164 0
ORE expenses 212 357 305 358
Other 1,815 1,147 3,474 2,379
TOTAL NON-INTEREST EXPENSES 7,301 5,428 14,213 10,763
Income before provision for income taxes 3,718 3,968 7,792 7,828
Provision for income taxes 687 779 1,478 1,519
NET INCOME $ 3,031 $ 3,189 $ 6,314 $ 6,309
PER COMMON SHARE DATA:        
Net Income - Basic (in dollars per share) $ 0.91 $ 1.04 $ 1.88 $ 2.06
Net Income - Diluted (in dollars per share) 0.91 1.04 1.88 2.06
Cash Dividends Paid (in dollars per share) $ 0.419 $ 0.402 $ 0.829 $ 0.802
Number of shares used in computation - basic (in shares) 3,343,254 3,052,285 3,349,913 3,055,569
Number of shares used in computation - diluted (in shares) 3,343,663 3,053,349 3,350,118 3,056,103