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CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
INTEREST INCOME:        
Interest and fees on loans $ 16,370 $ 16,407 $ 33,064 $ 30,045
Interest-bearing deposits with banks 111 97 217 192
Investment securities:        
Taxable 941 1,126 1,791 2,233
Nontaxable 547 463 1,091 852
Dividends 106 67 207 177
TOTAL INTEREST INCOME 18,075 18,160 36,370 33,499
INTEREST EXPENSE:        
Deposits 1,525 1,657 3,123 3,644
Borrowed funds 338 217 594 679
TOTAL INTEREST EXPENSE 1,863 1,874 3,717 4,323
NET INTEREST INCOME 16,212 16,286 32,653 29,176
Provision for loan losses 500 550 1,150 950
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 15,712 15,736 31,503 28,226
NON-INTEREST INCOME:        
Service charges 1,163 914 2,269 1,995
Trust 185 145 492 343
Brokerage and insurance 406 249 782 589
Gains on loans sold 311 260 814 427
Equity security gains (losses), net 29 11 216 (243)
Available for sale security gains, net 0 117 50 117
Earnings on bank owned life insurance 163 178 1,478 334
Other 449 195 840 358
TOTAL NON-INTEREST INCOME 2,706 2,069 6,941 3,920
NON-INTEREST EXPENSES:        
Salaries and employee benefits 6,481 5,895 12,744 11,309
Occupancy 711 651 1,494 1,177
Furniture and equipment 141 189 284 320
Professional fees 395 438 843 763
FDIC insurance 129 135 258 206
Pennsylvania shares tax 178 259 517 534
Amortization of intangibles 49 55 98 105
Merger and acquisition 0 1,803 0 2,179
Software expenses 354 246 667 493
ORE expenses 167 159 253 191
Other 1,715 1,583 3,109 3,057
TOTAL NON-INTEREST EXPENSES 10,320 11,413 20,267 20,334
Income before provision for income taxes 8,098 6,392 18,177 11,812
Provision for income taxes 1,451 1,054 3,067 1,943
NET INCOME $ 6,647 $ 5,338 $ 15,110 $ 9,869
PER COMMON SHARE DATA:        
Net Income - Basic (in dollars per share) $ 1.69 $ 1.37 $ 3.83 $ 2.64
Net Income - Diluted (in dollars per share) 1.69 1.37 3.83 2.64
Cash Dividends Paid (in dollars per share) $ 0.460 $ 0.446 $ 0.920 $ 0.989
Number of shares used in computation - basic (in shares) 3,944,488 3,883,734 3,946,184 3,737,759
Number of shares used in computation - diluted (in shares) 3,944,560 3,884,763 3,946,219 3,738,273