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CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
INTEREST INCOME:        
Interest and fees on loans $ 9,204 $ 7,248 $ 26,387 $ 21,416
Interest-bearing deposits with banks 50 33 185 103
Investment securities:        
Taxable 897 798 2,800 2,317
Nontaxable 733 749 2,259 2,398
Dividends 64 35 205 168
TOTAL INTEREST INCOME 10,948 8,863 31,836 26,402
INTEREST EXPENSE:        
Deposits 1,048 1,044 3,194 3,088
Borrowed funds 188 174 554 521
TOTAL INTEREST EXPENSE 1,236 1,218 3,748 3,609
NET INTEREST INCOME 9,712 7,645 28,088 22,793
Provision for loan losses 500 120 770 360
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 9,212 7,525 27,318 22,433
NON-INTEREST INCOME:        
Service charges 1,115 1,054 3,345 3,058
Trust 161 149 539 523
Brokerage and insurance 211 181 578 563
Gains on loans sold 109 85 225 183
Investment securities gains, net 0 129 155 430
Earnings on bank owned life insurance 174 158 515 464
Other 138 109 450 327
TOTAL NON-INTEREST INCOME 1,908 1,865 5,807 5,548
NON-INTEREST EXPENSES:        
Salaries and employee benefits 4,285 3,069 12,067 9,118
Occupancy 485 347 1,385 1,064
Furniture and equipment 164 108 492 323
Professional fees 283 202 836 614
FDIC insurance 175 116 492 348
Pennsylvania shares tax 240 201 630 602
Amortization of intangibles 82 0 246 0
Merger and acquisition 0 282 0 405
ORE expenses (recovery) (71) 328 234 686
Other 1,557 1,199 5,031 3,455
TOTAL NON-INTEREST EXPENSES 7,200 5,852 21,413 16,615
Income before provision for income taxes 3,920 3,538 11,712 11,366
Provision for income taxes 767 681 2,245 2,200
NET INCOME $ 3,153 $ 2,857 $ 9,467 $ 9,166
PER COMMON SHARE DATA:        
Net Income - Basic (in dollars per share) $ 0.94 $ 0.94 $ 2.83 $ 3.00
Net Income - Diluted (in dollars per share) 0.94 0.94 2.83 3.00
Cash Dividends Paid (in dollars per share) $ 0.421 $ 0.503 $ 1.250 $ 1.304
Number of shares used in computation - basic (in shares) 3,339,962 3,044,311 3,346,623 3,051,826
Number of shares used in computation - diluted (in shares) 3,341,656 3,045,775 3,348,321 3,053,294