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CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
INTEREST INCOME:    
Interest and fees on loans $ 16,694 $ 13,638
Interest-bearing deposits with banks 106 95
Investment securities:    
Taxable 850 1,107
Nontaxable 544 389
Dividends 101 110
TOTAL INTEREST INCOME 18,295 15,339
INTEREST EXPENSE:    
Deposits 1,598 1,987
Borrowed funds 256 462
TOTAL INTEREST EXPENSE 1,854 2,449
NET INTEREST INCOME 16,441 12,890
Provision for loan losses 650 400
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 15,791 12,490
NON-INTEREST INCOME:    
Revenue from customers 1,898 1,726
Gains on loans sold 503 167
Equity security gains (losses), net 187 (254)
Available for sale security gains, net 50 0
Earnings on bank owned life insurance 1,315 156
Other 391 163
TOTAL NON-INTEREST INCOME 4,235 1,851
NON-INTEREST EXPENSES:    
Salaries and employee benefits 6,263 5,414
Occupancy 783 526
Furniture and equipment 143 131
Professional fees 448 325
FDIC insurance 129 71
Pennsylvania shares tax 339 275
Amortization of intangibles 49 50
Merger and acquisition 0 376
Software expenses 313 247
ORE expenses 86 32
Other 1,394 1,474
TOTAL NON-INTEREST EXPENSES 9,947 8,921
Income before provision for income taxes 10,079 5,420
Provision for income taxes 1,616 889
NET INCOME $ 8,463 $ 4,531
PER COMMON SHARE DATA:    
Net Income - Basic (in dollars per share) $ 2.16 $ 1.27
Net Income - Diluted (in dollars per share) 2.16 1.27
Cash Dividends Paid (in dollars per share) $ 0.465 $ 0.549
Number of shares used in computation - basic (in shares) 3,909,887 3,553,818
Number of shares used in computation - diluted (in shares) 3,909,887 3,553,818
Service Charges [Member]    
NON-INTEREST INCOME:    
Revenue from customers $ 1,106 $ 1,081
Trust [Member]    
NON-INTEREST INCOME:    
Revenue from customers 307 198
Brokerage and Insurance [Member]    
NON-INTEREST INCOME:    
Revenue from customers $ 376 $ 340