XML 14 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
INTEREST INCOME    
Interest and fees on loans and leases $ 11,337 $ 9,702
Interest on interest-bearing balances 9 2
Interest on federal funds sold 168 51
Interest and dividends on investment securities:    
U.S. Treasury and government agencies 752 445
State and political subdivision obligations, tax-exempt 542 316
Other securities 172 43
Total Interest Income 12,980 10,559
INTEREST EXPENSE    
Interest on deposits 1,780 1,204
Interest on short-term borrowings 12  
Interest on long-term and subordinated debt 310 180
Total Interest Expense 2,102 1,384
Net Interest Income 10,878 9,175
PROVISION FOR LOAN AND LEASE LOSSES 125 125
Net Interest Income After Provision for Loan and Lease Losses 10,753 9,050
NONINTEREST INCOME    
Income from fiduciary activities 240 196
Service charges on deposits 203 205
Net gain on sales of investment securities 98 8
Earnings from cash surrender value of life insurance 64 65
Mortgage banking income 156 191
ATM debit card interchange income 265 224
Merchant services income 78 74
Net gain on sales of SBA loans 257 284
Other income 286 189
Total Noninterest Income 1,647 1,436
NONINTEREST EXPENSE    
Salaries and employee benefits 5,064 4,230
Occupancy expense, net 797 648
Equipment expense 408 381
Pennsylvania bank shares tax expense 171 170
FDIC Assessment 228 194
Legal and professional fees 224 177
Marketing and advertising expense 189 107
Software licensing 514 329
Telephone expense 147 126
Loss on sale or write-down of foreclosed assets 2 82
Intangible amortization 248 29
Merger and acquisition expense 1,694 210
Other expenses 1,497 1,119
Total Noninterest Expense 11,183 7,802
INCOME BEFORE PROVISION FOR INCOME TAXES 1,217 2,684
Provision for income taxes 213 690
NET INCOME $ 1,004 $ 1,994
PER COMMON SHARE DATA:    
Basic and Diluted Earnings Per Common Share $ 0.17 $ 0.47
Cash Dividends Paid $ 0.25 $ 0.23