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CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
INTEREST INCOME:        
Interest and fees on loans $ 16,505 $ 16,718 $ 49,569 $ 46,763
Interest-bearing deposits with banks 118 106 335 298
Investment securities:        
Taxable 1,074 979 2,865 3,212
Nontaxable 561 485 1,652 1,337
Dividends 84 98 291 275
TOTAL INTEREST INCOME 18,342 18,386 54,712 51,885
INTEREST EXPENSE:        
Deposits 1,422 1,635 4,545 5,279
Borrowed funds 330 281 924 960
TOTAL INTEREST EXPENSE 1,752 1,916 5,469 6,239
NET INTEREST INCOME 16,590 16,470 49,243 45,646
Provision for loan losses 400 550 1,550 1,500
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 16,190 15,920 47,693 44,146
NON-INTEREST INCOME:        
Service charges 1,210 1,112 3,479 3,107
Trust 182 199 674 542
Brokerage and insurance 408 352 1,190 941
Gains on loans sold 295 855 1,109 1,282
Equity security gains (losses), net 72 (33) 288 (276)
Available for sale security gains, net 162 185 212 302
Earnings on bank owned life insurance 165 180 1,643 514
Other 358 688 1,198 1,046
TOTAL NON-INTEREST INCOME 2,852 3,538 9,793 7,458
NON-INTEREST EXPENSES:        
Salaries and employee benefits 6,568 6,102 19,312 17,411
Occupancy 728 714 2,222 1,891
Furniture and equipment 123 267 407 587
Professional fees 310 417 1,153 1,180
FDIC insurance 129 135 387 341
Pennsylvania shares tax 339 275 856 809
Amortization of intangibles 48 57 146 162
Merger and acquisition 0 0 0 2,179
Software expenses 336 324 1,003 817
ORE expenses 130 30 383 221
Other 1,689 1,371 4,798 4,428
TOTAL NON-INTEREST EXPENSES 10,400 9,692 30,667 30,026
Income before provision for income taxes 8,642 9,766 26,819 21,578
Provision for income taxes 1,578 1,759 4,645 3,702
NET INCOME $ 7,064 $ 8,007 $ 22,174 $ 17,876
PER COMMON SHARE DATA:        
Net Income - Basic (in dollars per share) $ 1.79 $ 2.02 $ 5.62 $ 4.69
Net Income - Diluted (in dollars per share) 1.79 2.02 5.62 4.69
Cash Dividends Paid (in dollars per share) $ 0.470 $ 0.456 $ 1.391 $ 1.445
Number of shares used in computation - basic (in shares) 3,949,508 3,956,997 3,945,962 3,808,264
Number of shares used in computation - diluted (in shares) 3,949,603 3,956,997 3,945,969 3,810,289