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v3.25.1

Segment Reporting | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Segment Reporting | SEGMENT REPORTING The Corporation generates revenue through the operation of a full-service bank and manages the business activities on a consolidated basis. The nature of the products and services offered, and the types of customers served are similar across the geographic footprint the Bank operates in. The banking segment derives its revenue primarily through the operations as a full-service bank engaging in a full range of banking activities and services, including trust and wealth management services, for individual, business, governmental, and institutional customers. There are branch offices located in Pennsylvania, Ohio, New York and Virginia. The accounting policies of the banking segment are the same as those described in the summary of significant accounting policies. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment. The Corporation’s CODM is the Chief Executive Officer, Michael D. Peduzzi. The CODM assesses performance for the banking segment and decides how to allocate resources based on consolidated net income as reported on the income statement. The measure of segment assets is reported on the balance sheet as total consolidated assets. The CODM uses net income to evaluate overall financial performance and profitability, and it is utilized as a key metric in evaluating the achievement of the corporation’s strategic plan. Net income is used to monitor budget versus actual results. The comparison of budgeted versus actual net income results are used in assessing the banking segment’s performance and in establishing management’s compensation. Information reported internally for performance assessment by the CODM follows, including reconciliation to the financial statements.
| Three Months Ended March 31,
| 2025 |  | 2024
Interest and Dividend Income: |  |  |
Loans including fees |  |  |
Interest and fees on loans | $ | 72,379 |  |  | $ | 71,513 |
Investment Securities | 10,000 |  |  | 6,392 |
Total interest and dividend income | 82,379 |  |  | 77,905 |
Interest Expense: |  |  |
Deposits | 32,634 |  |  | 31,548 |
Borrowed funds | 1,314 |  |  | 1,135 |
Total interest expense | 33,948 |  |  | 32,683 |
NET INTEREST INCOME | 48,431 |  |  | 45,222 |
PROVISION FOR CREDIT LOSS EXPENSE | 1,556 |  |  | 1,320 |
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSS EXPENSE | 46,875 |  |  | 43,902 |
NON-INTEREST INCOME: |  |  |
Service charges on deposit accounts | 1,714 |  |  | 1,694 |
Other service charges and fees | 510 |  |  | 695 |
Wealth and asset management fees | 1,796 |  |  | 1,802 |
Net unrealized gains (losses) on equity securities | (249) |  |  | 191 |
Mortgage banking | 96 |  |  | 196 |
Bank owned life insurance | 760 |  |  | 767 |
Card processing and interchange income | 2,107 |  |  | 2,016 |
Other non-interest income | 1,773 |  |  | 1,594 |
Total non-interest income | 8,507 |  |  | 8,955 |
NON-INTEREST EXPENSES: |  |  |
Salaries | 13,726 |  |  | 13,556 |
Incentive | 1,768 |  |  | 393 |
Benefits | 5,070 |  |  | 4,838 |
Net occupancy expense | 4,038 |  |  | 3,640 |
Technology expense | 5,378 |  |  | 5,072 |
State and local taxes | 1,292 |  |  | 1,143 |
Legal, professional and examination fees | 849 |  |  | 1,172 |
Advertising | 514 |  |  | 685 |
FDIC insurance | 985 |  |  | 990 |
Card processing and interchange expenses | 1,160 |  |  | 1,179 |
Merger Costs | 1,529 |  |  | — |
Other non-interest expenses | 4,729 |  |  | 4,756 |
Total non-interest expenses | 41,038 |  |  | 37,424 |
INCOME BEFORE INCOME TAXES | 14,344 |  |  | 15,433 |
INCOME TAX EXPENSE | 2,863 |  |  | 2,833 |
SEGMENT NET INCOME | $ | 11,481 |  |  | $ | 12,600 |
Reconciliation of profit or loss |  |  |
Adjustments and reconciling items | — |  |  | — |
CONSOLIDATED NET INCOME | $ | 11,481 |  |  | $ | 12,600 |
Reconciliation of assets |  |  |
Adjustments and reconciling items | — |  |  | — |
TOTAL CONSOLIDATED ASSETS | $ | 6,295,508 |  |  | $ | 5,801,412 |

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- Definition The entire disclosure for reporting segments including data and tables. 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