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CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
INTEREST INCOME:        
Interest and fees on loans $ 19,396 $ 16,505 $ 52,436 $ 49,569
Interest-bearing deposits with banks 61 118 333 335
Investment securities:        
Taxable 1,514 1,074 4,050 2,865
Nontaxable 630 561 1,830 1,652
Dividends 182 84 356 291
TOTAL INTEREST INCOME 21,783 18,342 59,005 54,712
INTEREST EXPENSE:        
Deposits 1,838 1,422 4,469 4,545
Borrowed funds 1,099 330 1,699 924
TOTAL INTEREST EXPENSE 2,937 1,752 6,168 5,469
NET INTEREST INCOME 18,846 16,590 52,837 49,243
Provision for loan losses 725 400 1,425 1,550
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 18,121 16,190 51,412 47,693
NON-INTEREST INCOME:        
Service charges 1,509 1,210 4,081 3,479
Trust 187 182 620 674
Brokerage and insurance 446 408 1,428 1,190
Gains on loans sold 95 295 241 1,109
Equity security (losses) gains, net (19) 72 (198) 288
Available for sale security (losses) gains, net (6) 162 (6) 212
Earnings on bank owned life insurance 216 165 635 1,643
Other 264 358 626 1,198
TOTAL NON-INTEREST INCOME 2,692 2,852 7,427 9,793
NON-INTEREST EXPENSES:        
Salaries and employee benefits 6,933 6,568 20,964 19,312
Occupancy 779 728 2,327 2,222
Furniture and equipment 122 123 416 407
Professional fees 588 310 1,321 1,153
FDIC insurance 160 129 440 387
Pennsylvania shares tax 339 339 1,017 856
Amortization of intangibles 40 48 120 146
Software expenses 370 336 1,069 1,003
ORE expenses (income) 122 130 (125) 383
Other 2,161 1,689 5,496 4,798
TOTAL NON-INTEREST EXPENSES 11,614 10,400 33,045 30,667
Income before provision for income taxes 9,199 8,642 25,794 26,819
Provision for income taxes 1,655 1,578 4,609 4,645
NET INCOME $ 7,544 $ 7,064 $ 21,185 $ 22,174
PER COMMON SHARE DATA:        
Net Income - Basic (in dollars per share) $ 1.9 $ 1.77 $ 5.34 $ 5.56
Net Income - Diluted (in dollars per share) 1.9 1.77 5.34 5.56
Cash Dividends Paid (in dollars per share) $ 0.48 $ 0.465 $ 1.421 $ 1.377
Number of shares used in computation - basic (in shares) 3,967,585 3,988,294 3,970,646 3,984,748
Number of shares used in computation - diluted (in shares) 3,967,819 3,988,389 3,970,648 3,984,755