XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
INTEREST INCOME        
Interest and fees on loans and leases $ 12,073 $ 9,949 $ 23,410 $ 19,651
Interest on interest-bearing balances 17 5 26 7
Interest on federal funds sold 153 23 321 74
Interest and dividends on investment securities:        
U.S. Treasury and government agencies 884 574 1,636 1,019
State and political subdivision obligations, tax-exempt 517 264 1,059 580
Other securities 76 64 248 107
Total Interest Income 13,720 10,879 26,700 21,438
INTEREST EXPENSE        
Interest on deposits 1,997 1,277 3,777 2,481
Interest on short-term borrowings   13 12 13
Interest on long-term and subordinated debt 309 179 619 359
Total Interest Expense 2,306 1,469 4,408 2,853
Net Interest Income 11,414 9,410 22,292 18,585
PROVISION FOR LOAN AND LEASE LOSSES   100 125 225
Net Interest Income After Provision for Loan and Lease Losses 11,414 9,310 22,167 18,360
NONINTEREST INCOME        
Net gain on sales of investment securities 4 12 102 20
Earnings from cash surrender value of life insurance 65 66 129 131
Net gain on sales of SBA loans 152 157 409 441
Other income 206 204 492 393
Total Noninterest Income 1,559 1,362 3,206 2,798
NONINTEREST EXPENSE        
Salaries and employee benefits 4,542 4,159 9,606 8,389
Occupancy expense, net 870 593 1,667 1,241
Equipment expense 544 370 952 751
Pennsylvania bank shares tax expense 171 160 342 330
FDIC Assessment 93 194 321 388
Legal and professional fees 256 189 480 366
Marketing and advertising expense 230 131 419 238
Software licensing 512 370 1,026 699
Telephone expense 156 133 303 259
Loss on sale or write-down of foreclosed assets 1 6 3 88
Intangible amortization 248 24 496 53
Merger and acquisition expense 222 14 1,916 224
Other expenses 1,897 1,215 3,394 2,334
Total Noninterest Expense 9,742 7,558 20,925 15,360
INCOME BEFORE PROVISION FOR INCOME TAXES 3,231 3,114 4,448 5,798
Provision for income taxes 452 769 665 1,459
NET INCOME $ 2,779 $ 2,345 $ 3,783 $ 4,339
PER COMMON SHARE DATA:        
Basic and Diluted Earnings Per Common Share $ 0.45 $ 0.55 $ 0.63 $ 1.02
Cash Dividends Paid $ 0.15 $ 0.13 $ 0.40 $ 0.36
Income from Fiduciary Activities [Member]        
NONINTEREST INCOME        
Non-interest Income $ 286 $ 200 $ 526 $ 396
Service Charges on Deposits [Member]        
NONINTEREST INCOME        
Non-interest Income 222 174 425 379
Mortgage Banking Income [Member]        
NONINTEREST INCOME        
Non-interest Income 205 225 361 416
ATM Debit Card Interchange Income [Member]        
NONINTEREST INCOME        
Non-interest Income 326 232 591 456
Merchant Services Income [Member]        
NONINTEREST INCOME        
Non-interest Income $ 93 $ 92 $ 171 $ 166