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CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
INTEREST INCOME:        
Interest and fees on loans $ 13,915 $ 12,666 $ 41,005 $ 36,988
Interest-bearing deposits with banks 103 94 311 218
Investment securities:        
Taxable 1,361 967 3,597 2,683
Nontaxable 378 425 1,109 1,426
Dividends 117 107 371 355
TOTAL INTEREST INCOME 15,874 14,259 46,393 41,670
INTEREST EXPENSE:        
Deposits 2,315 1,794 7,027 4,695
Borrowed funds 660 695 2,216 2,034
TOTAL INTEREST EXPENSE 2,975 2,489 9,243 6,729
NET INTEREST INCOME 12,899 11,770 37,150 34,941
Provision for loan losses 400 475 1,150 1,300
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 12,499 11,295 36,000 33,641
NON-INTEREST INCOME:        
Revenue from customers 1,742 1,634 5,197 4,819
Gains on loans sold 176 170 339 302
Equity security gains (losses), net 29 (4) 70 9
Available for sale security gains (losses), net 8 (8) 8 (8)
Earnings on bank owned life insurance 158 161 463 467
Other 144 141 427 414
TOTAL NON-INTEREST INCOME 2,177 2,010 6,237 5,758
NON-INTEREST EXPENSES:        
Salaries and employee benefits 5,096 4,679 15,129 14,251
Occupancy 530 500 1,639 1,606
Furniture and equipment 165 130 501 394
Professional fees 343 507 1,101 1,273
FDIC insurance (credit) (20)      
FDIC insurance fee   120 196 327
Pennsylvania shares tax 275 250 825 850
Amortization of intangibles 66 74 198 224
Merger and acquisition 275 0 275 0
ORE expenses 92 6 308 92
Other 1,592 1,522 4,801 4,305
TOTAL NON-INTEREST EXPENSES 8,414 7,788 24,973 23,322
Income before provision for income taxes 6,262 5,517 17,264 16,077
Provision for income taxes 1,066 936 2,817 2,558
NET INCOME $ 5,196 $ 4,581 $ 14,447 $ 13,519
PER COMMON SHARE DATA:        
Net Income - Basic (in dollars per share) $ 1.48 $ 1.30 $ 4.10 $ 3.82
Net Income - Diluted (in dollars per share) 1.48 1.30 4.10 3.81
Cash Dividends Paid (in dollars per share) $ 0.450 $ 0.436 $ 1.331 $ 1.289
Number of shares used in computation - basic (in shares) 3,515,678 3,537,315 3,522,377 3,541,971
Number of shares used in computation - diluted (in shares) 3,515,678 3,537,476 3,524,657 3,544,132
Service Charges [Member]        
NON-INTEREST INCOME:        
Revenue from customers $ 1,225 $ 1,181 $ 3,498 $ 3,455
Trust [Member]        
NON-INTEREST INCOME:        
Revenue from customers 148 147 589 548
Brokerage and Insurance [Member]        
NON-INTEREST INCOME:        
Revenue from customers $ 289 $ 222 $ 843 $ 571