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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and fees on loans:        
Taxable $ 27,490 $ 24,362 $ 54,193 $ 46,793
Tax-exempt 594 564 1,139 1,135
Income from available-for-sale debt securities:        
Taxable 2,137 2,152 4,273 4,363
Tax-exempt 560 610 1,113 1,250
Other interest and dividend income 545 323 944 609
Total interest and dividend income 31,326 28,011 61,662 54,150
INTEREST EXPENSE        
Interest on deposits 9,314 5,099 18,205 8,329
Interest on short-term borrowings 360 1,144 957 2,241
Interest on long-term borrowings - FHLB advances 1,855 1,056 3,311 1,737
Interest on senior notes, net 120 119 240 239
Interest on subordinated debt, net 232 231 463 461
Total interest expense 11,881 7,649 23,176 13,007
Net interest income 19,445 20,362 38,486 41,143
Provision for credit losses 565 812 1,519 460
Net interest income after provision for credit losses 18,880 19,550 36,967 40,683
NONINTEREST INCOME        
Trust revenue 2,014 1,804 3,911 3,581
Brokerage and insurance revenue 527 365 1,066 795
Net gains from sale of loans 235 139 426 213
Increase in cash surrender value of life insurance 444 152 914 290
Other noninterest income 1,943 1,587 2,960 2,358
Realized (losses) gains on available-for-sale debt securities, net 0 (1) 0 6
Total noninterest income 7,854 6,634 14,529 12,250
NONINTEREST EXPENSE        
Salaries and employee benefits 11,023 10,777 22,585 22,204
Net occupancy and equipment expense 1,333 1,323 2,783 2,725
Data processing and telecommunications expense 2,003 1,900 3,995 3,836
Automated teller machine and interchange expense 473 395 960 870
Pennsylvania shares tax 434 404 867 807
Professional fees 552 564 1,070 1,501
Other noninterest expense 3,437 3,359 5,299 5,866
Total noninterest expense 19,255 18,722 37,559 37,809
Income before income tax provision 7,479 7,462 13,937 15,124
Income tax provision 1,366 1,419 2,518 2,828
NET INCOME $ 6,113 $ 6,043 $ 11,419 $ 12,296
EARNINGS PER COMMON SHARE - BASIC (in dollars per share) $ 0.40 $ 0.39 $ 0.74 $ 0.80
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share) $ 0.40 $ 0.39 $ 0.74 $ 0.80
Service charges on deposit accounts        
NONINTEREST INCOME        
Revenue $ 1,472 $ 1,388 $ 2,790 $ 2,678
Interchange revenue from debit card transactions        
NONINTEREST INCOME        
Revenue 1,089 1,010 2,102 2,017
Loan servicing fees, net        
NONINTEREST INCOME        
Revenue $ 130 $ 190 $ 360 $ 312