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CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
INTEREST INCOME:        
Interest and fees on loans $ 12,666,000 $ 10,659,000 $ 36,988,000 $ 30,680,000
Interest-bearing deposits with banks 94,000 49,000 218,000 129,000
Investment securities:        
Taxable 967,000 762,000 2,683,000 2,341,000
Nontaxable 425,000 588,000 1,426,000 1,857,000
Dividends 107,000 62,000 355,000 191,000
TOTAL INTEREST INCOME 14,259,000 12,120,000 41,670,000 35,198,000
INTEREST EXPENSE:        
Deposits 1,794,000 1,210,000 4,695,000 3,398,000
Borrowed funds 695,000 293,000 2,034,000 782,000
TOTAL INTEREST EXPENSE 2,489,000 1,503,000 6,729,000 4,180,000
NET INTEREST INCOME 11,770,000 10,617,000 34,941,000 31,018,000
Provision for loan losses 475,000 500,000 1,300,000 1,740,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 11,295,000 10,117,000 33,641,000 29,278,000
NON-INTEREST INCOME:        
Revenue from customers 1,634,000   4,819,000  
Gains on loans sold 170,000 134,000 302,000 383,000
Equity security gains (losses), net (4,000) 0 9,000 0
Available for sale security gains (losses), net (8,000) 9,000 (8,000) 204,000
Earnings on bank owned life insurance 161,000 166,000 467,000 499,000
Other 141,000 126,000 414,000 380,000
TOTAL NON-INTEREST INCOME 2,010,000 1,921,000 5,758,000 5,844,000
NON-INTEREST EXPENSES:        
Salaries and employee benefits 4,679,000 4,287,000 14,251,000 13,030,000
Occupancy 500,000 475,000 1,606,000 1,479,000
Furniture and equipment 130,000 159,000 394,000 444,000
Professional fees 507,000 318,000 1,273,000 942,000
FDIC insurance 120,000 95,000 327,000 295,000
Pennsylvania shares tax 250,000 243,000 850,000 767,000
Amortization of intangibles 74,000 74,000 224,000 223,000
OREO expenses 6,000 139,000 92,000 255,000
Other 1,522,000 1,457,000 4,305,000 4,169,000
TOTAL NON-INTEREST EXPENSES 7,788,000 7,247,000 23,322,000 21,604,000
Income before provision for income taxes 5,517,000 4,791,000 16,077,000 13,518,000
Provision for income taxes 936,000 1,141,000 2,558,000 3,097,000
NET INCOME $ 4,581,000 $ 3,650,000 $ 13,519,000 $ 10,421,000
PER COMMON SHARE DATA:        
Net Income - Basic (in dollars per share) $ 1.31 $ 1.04 $ 3.85 $ 2.96
Net Income - Diluted (in dollars per share) 1.31 1.04 3.85 2.96
Cash Dividends Paid (in dollars per share) $ 0.440 $ 0.426 $ 1.302 $ 1.228
Number of shares used in computation - basic (in shares) 3,502,859 3,517,208 3,507,515 3,515,032
Number of shares used in computation - diluted (in shares) 3,503,020 3,519,493 3,509,676 3,516,906
Service Charges [Member]        
NON-INTEREST INCOME:        
Revenue from customers $ 1,181,000 $ 1,145,000 $ 3,455,000 $ 3,323,000
Trust [Member]        
NON-INTEREST INCOME:        
Revenue from customers 147,000 187,000 548,000 596,000
Brokerage and Insurance [Member]        
NON-INTEREST INCOME:        
Revenue from customers $ 222,000 $ 154,000 $ 571,000 $ 459,000