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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest and fees on loans:        
Taxable $ 28,099 $ 25,529 $ 82,292 $ 72,322
Tax-exempt 610 552 1,749 1,687
Income from available-for-sale debt securities:        
Taxable 2,136 2,077 6,409 6,440
Tax-exempt 572 597 1,685 1,847
Other interest and dividend income 1,670 363 2,614 972
Total interest and dividend income 33,087 29,118 94,749 83,268
INTEREST EXPENSE        
Interest on deposits 10,412 7,264 28,617 15,593
Interest on short-term borrowings 184 677 1,141 2,918
Interest on long-term borrowings - FHLB advances 1,983 1,164 5,294 2,901
Interest on senior notes, net 120 120 360 359
Interest on subordinated debt, net 232 230 695 691
Total interest expense 12,931 9,455 36,107 22,462
Net interest income 20,156 19,663 58,642 60,806
Provision (credit) for credit losses 1,207 (1,225) 2,726 (765)
Net interest income after provision (credit) for credit losses 18,949 20,888 55,916 61,571
NONINTEREST INCOME        
Trust revenue 1,946 1,919 5,857 5,500
Brokerage and insurance revenue 523 394 1,589 1,189
Net gains from sale of loans 360 237 786 450
Increase in cash surrender value of life insurance 458 160 1,372 450
Other noninterest income 1,123 1,084 4,083 3,442
Realized gains on available-for-sale debt securities, net 0 0 0 6
Total noninterest income 7,133 6,489 21,662 18,739
NONINTEREST EXPENSE        
Salaries and employee benefits 10,875 10,878 33,460 33,082
Net occupancy and equipment expense 1,377 1,268 4,160 3,993
Data processing and telecommunications expense 1,882 1,823 5,877 5,659
Automated teller machine and interchange expense 510 504 1,470 1,374
Pennsylvania shares tax 433 403 1,300 1,210
Professional fees 555 487 1,625 1,988
Other noninterest expense 2,637 2,577 7,936 8,443
Total noninterest expense 18,269 17,940 55,828 55,749
Income before income tax provision 7,813 9,437 21,750 24,561
Income tax provision 1,448 1,846 3,966 4,674
NET INCOME $ 6,365 $ 7,591 $ 17,784 $ 19,887
EARNINGS PER COMMON SHARE - BASIC (in dollars per share) $ 0.41 $ 0.50 $ 1.16 $ 1.29
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share) $ 0.41 $ 0.50 $ 1.16 $ 1.29
Service charges on deposit accounts        
NONINTEREST INCOME        
Revenue $ 1,546 $ 1,443 $ 4,336 $ 4,121
Interchange revenue from debit card transactions        
NONINTEREST INCOME        
Revenue 1,103 1,098 3,205 3,115
Loan servicing fees, net        
NONINTEREST INCOME        
Revenue $ 74 $ 154 $ 434 $ 466