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CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
INTEREST INCOME:        
Interest and fees on loans $ 10,304 $ 8,587 $ 20,021 $ 17,183
Interest-bearing deposits with banks 45 64 80 135
Investment securities:        
Taxable 775 959 1,579 1,903
Nontaxable 601 755 1,269 1,526
Dividends 53 61 129 141
TOTAL INTEREST INCOME 11,778 10,426 23,078 20,888
INTEREST EXPENSE:        
Deposits 1,143 1,072 2,188 2,146
Borrowed funds 231 183 489 366
TOTAL INTEREST EXPENSE 1,374 1,255 2,677 2,512
NET INTEREST INCOME 10,404 9,171 20,401 18,376
Provision for loan losses 625 135 1,240 270
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 9,779 9,036 19,161 18,106
NON-INTEREST INCOME:        
Service charges 1,120 1,128 2,178 2,230
Trust 188 182 409 378
Brokerage and insurance 114 158 305 367
Gains on loans sold 148 70 249 116
Investment securities gains, net 23 128 195 155
Earnings on bank owned life insurance 167 172 333 342
Other 128 145 254 311
TOTAL NON-INTEREST INCOME 1,888 1,983 3,923 3,899
NON-INTEREST EXPENSES:        
Salaries and employee benefits 4,324 3,900 8,643 7,782
Occupancy 477 455 1,004 900
Furniture and equipment 146 171 285 328
Professional fees 258 266 568 553
FDIC insurance 95 160 200 317
Pennsylvania shares tax 243 240 524 390
Amortization of intangibles 73 82 149 164
ORE expenses 82 212 172 305
Other 1,468 1,815 2,812 3,474
TOTAL NON-INTEREST EXPENSES 7,166 7,301 14,357 14,213
Income before provision for income taxes 4,501 3,718 8,727 7,792
Provision for income taxes 1,033 687 1,956 1,478
NET INCOME $ 3,468 $ 3,031 $ 6,771 $ 6,314
PER COMMON SHARE DATA:        
Net Income - Basic (in dollars per share) $ 1.00 $ 0.86 $ 1.95 $ 1.80
Net Income - Diluted (in dollars per share) 1.00 0.86 1.95 1.80
Cash Dividends Paid (in dollars per share) $ 0.405 $ 0.392 $ 0.810 $ 0.783
Number of shares used in computation - basic (in shares) 3,480,122 3,508,818 3,479,653 3,515,477
Number of shares used in computation - diluted (in shares) 3,481,310 3,509,227 3,480,263 3,515,682