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Consolidated Statement of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
INTEREST AND DIVIDEND INCOME:      
Interest and fees on loans $ 142,688 $ 116,075 $ 74,265
Interest-bearing deposits with banks 851 736 400
Investment securities:      
Taxable 7,135 6,636 5,615
Nontaxable 2,093 2,264 2,454
Dividends 1,550 1,407 623
TOTAL INTEREST AND DIVIDEND INCOME 154,317 127,118 83,357
INTEREST EXPENSE:      
Deposits 52,326 31,699 7,316
Borrowed funds 15,536 15,159 3,907
TOTAL INTEREST EXPENSE 67,862 46,858 11,223
NET INTEREST INCOME 86,455 80,260 72,134
Provision for credit losses 2,587 937 1,683
Provision for credit losses - acquisition day 1 non-PCD 0 4,591 0
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 83,868 74,732 70,451
NON-INTEREST INCOME:      
Service charges 5,749 5,639 5,346
Trust 816 764 803
Brokerage and insurance 2,381 1,924 1,895
Equity security gains (losses), net 145 (144) (247)
Available for sale security losses, net 0 (51) (14)
Gains on loans sold 2,316 1,452 258
Earnings on bank owned life insurance 1,684 1,254 852
Gain on sale of Braavo division 1,102 0 0
Other 1,208 767 845
TOTAL NON-INTEREST INCOME 15,401 11,605 9,738
NON-INTEREST EXPENSES:      
Salaries and employee benefits 39,347 34,990 27,837
Occupancy 5,013 4,123 3,138
Furniture and equipment 1,038 822 565
Professional fees 2,599 1,962 1,641
Federal depository insurance 1,996 1,475 676
Pennsylvania shares tax 1,114 583 907
Amortization of intangibles 564 373 156
Merger and acquisition 0 9,269 292
Other real estate owned expenses 212 166 17
Software expenses 1,953 1,784 1,446
Other 11,750 9,275 8,019
TOTAL NON-INTEREST EXPENSES 65,586 64,822 44,694
Income before provision for income taxes 33,683 21,515 35,495
Provision for income taxes 5,865 3,704 6,435
NET INCOME $ 27,818 $ 17,811 $ 29,060
PER COMMON SHARE DATA:      
EARNINGS PER SHARE - BASIC (in dollars per share) $ 5.86 $ 4.02 $ 7.17
EARNINGS PER SHARE - DILUTED (in dollars per share) 5.85 4.02 7.17
CASH DIVIDENDS PER SHARE (in dollars per share) $ 1.95 $ 1.92 $ 1.86
Number of shares used in computation - basic (in shares) 4,750,185 4,429,162 4,055,520
Number of shares used in computation - diluted (in shares) 4,755,066 4,429,162 4,055,520