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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest and fees on loans:        
Taxable $ 18,529 $ 19,158 $ 56,095 $ 47,745
Tax-exempt 450 450 1,300 1,348
Income from available-for-sale debt securities:        
Taxable 1,304 1,483 3,604 4,451
Tax-exempt 668 561 1,973 1,505
Other interest and dividend income 122 99 283 252
Total interest and dividend income 21,073 21,751 63,255 55,301
INTEREST EXPENSE        
Interest on deposits 1,063 1,787 3,558 5,726
Interest on short-term borrowings 0 73 22 335
Interest on long-term borrowings - FHLB advances 87 362 330 970
Interest on senior notes, net 118 0 175 0
Interest on subordinated debt, net 346 247 947 460
Total interest expense 1,614 2,469 5,032 7,491
Net interest income 19,459 19,282 58,223 47,810
Provision for loan losses 1,530 1,941 2,533 3,293
Net interest income after provision for loan losses 17,929 17,341 55,690 44,517
NONINTEREST INCOME        
Brokerage and insurance revenue 560 382 1,392 1,121
Net gains from sale of loans 797 2,052 2,786 3,931
Increase in cash surrender value of life insurance 139 159 434 361
Other noninterest income 665 996 2,837 2,583
Sub-total 6,359 6,970 19,441 17,779
Realized gains on available-for-sale debt securities, net 23 25 25 25
Total noninterest income 6,382 6,995 19,466 17,804
NONINTEREST EXPENSE        
Salaries and employee benefits 9,427 8,703 27,821 23,064
Net occupancy and equipment expense 1,217 1,189 3,740 3,267
Data processing and telecommunications expense 1,475 1,482 4,342 3,959
Automated teller machine and interchange expense 357 340 1,049 912
Pennsylvania shares tax 482 422 1,463 1,267
Professional fees 538 422 1,683 1,265
Merger-related expenses 0 6,402 0 7,526
Other noninterest expense 1,850 2,090 6,356 6,100
Total noninterest expense 15,346 21,050 46,454 47,360
Income before income tax provision 8,965 3,286 28,702 14,961
Income tax provision 1,566 438 5,456 2,509
NET INCOME $ 7,399 $ 2,848 $ 23,246 $ 12,452
EARNINGS PER COMMON SHARE - BASIC (in dollars per share) $ 0.47 $ 0.18 $ 1.46 $ 0.86
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share) $ 0.47 $ 0.18 $ 1.46 $ 0.86
Trust revenue        
NONINTEREST INCOME        
Revenue $ 1,821 $ 1,595 $ 5,254 $ 4,639
Service charges on deposit accounts        
NONINTEREST INCOME        
Revenue 1,249 1,045 3,337 3,126
Interchange revenue from debit card transactions        
NONINTEREST INCOME        
Revenue 975 828 2,854 2,277
Loan servicing fees, net        
NONINTEREST INCOME        
Revenue $ 153 $ (87) $ 547 $ (259)