XML 17 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest and fees on loans:        
Taxable $ 18,075 $ 14,126 $ 37,566 $ 28,587
Tax-exempt 411 439 850 898
Income from available-for-sale debt securities:        
Taxable 1,187 1,380 2,300 2,968
Tax-exempt 663 507 1,305 944
Other interest and dividend income 92 61 161 153
Total interest and dividend income 20,428 16,513 42,182 33,550
INTEREST EXPENSE        
Interest on deposits 1,217 1,784 2,495 3,939
Interest on short-term borrowings 7 64 22 262
Interest on long-term borrowings - FHLB advances 109 313 243 608
Interest on senior notes, net 57 0 57 0
Interest on subordinated debt 357 106 601 213
Total interest expense 1,747 2,267 3,418 5,022
Net interest income 18,681 14,246 38,764 28,528
Provision (credit) for loan losses 744 (176) 1,003 1,352
Net interest income after provision for loan losses 17,937 14,422 37,761 27,176
NONINTEREST INCOME        
Brokerage and insurance revenue 506 384 832 739
Net gains from sale of loans 925 1,564 1,989 1,879
Increase in cash surrender value of life insurance 145 98 295 202
Other noninterest income 700 526 2,172 1,587
Sub-total 6,300 5,528 13,082 10,809
Realized gains on available-for-sale debt securities, net 2 0 2 0
Total noninterest income 6,302 5,528 13,084 10,809
NONINTEREST EXPENSE        
Salaries and employee benefits 9,499 6,983 18,394 14,361
Net occupancy and equipment expense 1,219 975 2,523 2,078
Data processing and telecommunications expense 1,487 1,253 2,867 2,477
Automated teller machine and interchange expense 355 275 692 572
Pennsylvania shares tax 490 423 981 845
Professional fees 598 464 1,145 843
Merger-related expenses 0 983 0 1,124
Other noninterest expense 1,751 1,901 4,506 4,010
Total noninterest expense 15,399 13,257 31,108 26,310
Income before income tax provision 8,840 6,693 19,737 11,675
Income tax provision 1,780 1,255 3,890 2,071
NET INCOME $ 7,060 $ 5,438 $ 15,847 $ 9,604
EARNINGS PER COMMON SHARE - BASIC (in dollars per share) $ 0.44 $ 0.39 $ 0.99 $ 0.70
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share) $ 0.44 $ 0.39 $ 0.99 $ 0.70
Trust and Asset Management        
NONINTEREST INCOME        
Revenue $ 1,807 $ 1,565 $ 3,433 $ 3,044
Deposit Account        
NONINTEREST INCOME        
Revenue 1,073 831 2,088 2,081
Debit Card        
NONINTEREST INCOME        
Revenue 998 718 1,879 1,449
Bank Servicing        
NONINTEREST INCOME        
Revenue $ 146 $ (158) $ 394 $ (172)