XML 14 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
INTEREST INCOME        
Interest & fees on loans and leases $ 6,494 $ 7,085 $ 12,755 $ 13,876
Interest on interest-bearing balances 29 60 76 125
Interest and dividends on investment securities:        
U.S. Treasury and government agencies 123 329 223 765
State and political subdivision obligations, tax exempt 493 404 976 813
Other securities 8 5 14 10
Interest on federal funds sold and securities purchased under agreements to resell 6 2 11 6
Total Interest Income 7,153 7,885 14,055 15,595
INTEREST EXPENSE        
Interest on deposits 1,130 1,618 2,335 3,407
Interest on short-term borrowings 7 1 7 1
Interest on long-term debt 169 243 407 487
Total Interest Expense 1,306 1,862 2,749 3,895
Net Interest Income 5,847 6,023 11,306 11,700
PROVISION FOR LOAN AND LEASE LOSSES 415 225 910 525
Net Interest Income After Provision for Loan and Lease Losses 5,432 5,798 10,396 11,175
NONINTEREST INCOME        
Income from fiduciary activities 110 189 249 301
Service charges on deposits 146 136 280 265
Net gain on sales of investment securities 112 10 112 26
Earnings from cash surrender value of life insurance 58 62 116 124
Mortgage banking income 115 137 225 259
ATM debit card interchange income 127 119 246 239
Other income 170 278 460 455
Total Noninterest Income 838 931 1,688 1,669
NONINTEREST EXPENSE        
Salaries and employee benefits 2,685 2,619 5,542 5,215
Occupancy expense, net 269 257 579 535
Equipment expense 345 286 661 580
Pennsylvania Bank Shares tax expense 133 128 261 259
FDIC Assessment 131 302 333 603
Legal and professional fees 166 138 320 245
Director fees and benefits expense 77 88 157 135
Marketing and advertising expense 62 128 105 197
Computer expense 246 161 427 323
Telephone expense 104 103 202 210
(Gain) loss on sale/write-down of foreclosed assets (303) 50 (322) 58
Intangible amortization 7 15 14 31
Loan collection costs 76 39 146 148
Other expenses 614 633 1,224 1,146
Total Noninterest Expense 4,612 4,947 9,649 9,685
INCOME BEFORE PROVISION FOR INCOME TAXES 1,658 1,782 2,435 3,159
Provision for income taxes 292 422 384 665
NET INCOME 1,366 1,360 2,051 2,494
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS 1,279 1,231 1,903 2,237
PER COMMON SHARE DATA:        
Basic Earnings Per Common Share $ 0.37 $ 0.35 $ 0.55 $ 0.64
Diluted Earnings Per Common Share $ 0.37 $ 0.35 $ 0.55 $ 0.64
Cash Dividends $ 0.05 $ 0.05 $ 0.05 $ 0.10
Series A Preferred Stock [Member]
       
NONINTEREST EXPENSE        
Preferred stock dividends and discount accretion   129 14 257
Series B Preferred Stock [Member]
       
NONINTEREST EXPENSE        
Preferred stock dividends and discount accretion $ 87   $ 134