XML 66 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Interest and fees on loans:    
Taxable $ 53,086 $ 38,667
Tax-exempt 2,104 2,242
Interest on loans held for sale 22 14
Interest on balances with depository institutions 514 415
Income from available-for-sale debt securities:    
Taxable 7,008 6,189
Tax-exempt 2,014 2,779
Dividends on marketable equity security 23 22
Total interest and dividend income 64,771 50,328
INTEREST EXPENSE    
Interest on deposits 8,190 3,702
Interest on short-term borrowings 733 366
Interest on long-term borrowings 1,013 557
Interest on subordinated debt 347 0
Total interest expense 10,283 4,625
Net interest income 54,488 45,703
Provision for loan losses 849 584
Net interest income after provision for loan losses 53,639 45,119
NONINTEREST INCOME    
Brokerage revenue 1,266 1,018
Insurance commissions, fees and premiums 167 105
Net gains from sale of loans 924 682
Increase in cash surrender value of bank-owned life insurance 402 394
Other noninterest income 1,875 2,153
Sub-total 19,284 18,597
Gain on restricted equity security 0 2,321
Realized gains (losses) on available-for-sale debt securities, net 23 (288)
Total noninterest income 19,307 20,630
NONINTEREST EXPENSE    
Salaries and wages 20,644 17,191
Pensions and other employee benefits 5,837 5,259
Occupancy expense, net 2,629 2,497
Furniture and equipment expense 1,289 1,196
Data processing expenses 3,403 2,750
Automated teller machine and interchange expense 1,103 1,304
Pennsylvania shares tax 1,380 1,318
Professional fees 1,069 976
Telecommunications 744 748
Directors' fees 673 706
Merger-related expenses 4,099 328
Other noninterest expense 6,667 5,213
Total noninterest expense 49,537 39,486
Income before income tax provision 23,409 26,263
Income tax provision 3,905 4,250
NET INCOME $ 19,504 $ 22,013
EARNINGS PER COMMON SHARE - BASIC (in dollars per share) [1] $ 1.46 $ 1.79
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share) [1] $ 1.46 $ 1.79
Trust and Asset Management [Member]    
NONINTEREST INCOME    
Revenue $ 6,106 $ 5,838
Deposit Account [Member]    
NONINTEREST INCOME    
Revenue 5,358 5,171
Service Charges and Fees [Member]    
NONINTEREST INCOME    
Revenue 332 343
Debit Card [Member]    
NONINTEREST INCOME    
Revenue 2,754 2,546
Bank Servicing [Member]    
NONINTEREST INCOME    
Revenue $ 100 $ 347
[1] Basic and diluted earnings per share under the two-class method are determined on net income reported on the income statement less earnings allocated to nonvested restricted shares with nonforfeitable dividends (participating securities).