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Consolidated Statements Of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income        
Loans, including fees $ 18,059 $ 14,069 $ 35,281 $ 26,405
Interest and dividends on investments:        
Taxable interest 3,901 3,327 7,814 6,777
Tax exempt interest 274 313 549 679
Dividend income 205 11 250 19
Interest-earning deposits in other banks 2,293 791 4,647 1,214
Total interest income 24,732 18,511 48,541 35,094
Interest expense        
Deposits 7,018 4,378 13,522 7,808
Federal Reserve Bank borrowings 480 677 1,440 728
FHLB overnight borrowings and advances 2,762   5,289  
Subordinate notes 261 261 525 526
Total interest expense 10,521 5,316 20,776 9,062
Net interest income 14,211 13,195 27,765 26,032
Provision for credit losses - loans 560 524 1,050 991
(Reversal of) provision for credit losses - unfunded commitments (14) 8 (52) 70
Total provision for credit losses 546 532 998 1,061
Net interest income after credit loss expense 13,665 12,663 26,767 24,971
Noninterest income        
Wealth management fees 2,242 1,959 4,269 3,793
Loan service charges 181 120 387 422
Gain on sale of loans 116 45 174 118
Deposit service charges and fees 572 616 1,185 1,199
Other service charges and fees 523 430 1,010 862
Debit card income 571 547 1,106 1,050
Increase in cash surrender value of life insurance 112 111 224 220
Net losses on sales of debt securities   (517) (1,119)
Change in fair value of equity securities (34) (8) (75) (32)
Other 67 226 258 241
Total noninterest income 4,350 3,529 8,538 6,754
Noninterest Expense        
Salaries and employee benefits 8,405 7,283 16,132 14,220
Net occupancy 1,149 1,112 2,331 2,222
Marketing and advertising 617 550 1,137 1,069
Legal and professional 515 454 1,030 1,005
Data processing 1,459 1,118 2,882 2,178
Pennsylvania bank shares tax 119 174 244 397
FDIC Insurance 408 198 730 380
ATM/debit card processing 339 307 662 601
Telecommunications 108 98 220 197
Nonservice pension (7) (29) (36) (59)
Lease termination   495   495
Other 1,224 888 2,310 1,962
Total noninterest expense 14,336 12,648 27,642 24,667
Income before federal income taxes 3,679 3,544 7,663 7,058
Federal income tax expense 646 568 1,269 790
Net income $ 3,033 $ 2,976 $ 6,394 $ 6,268
Per share        
Basic earnings per share $ 0.67 $ 0.68 $ 1.43 $ 1.43
Diluted earnings per share $ 0.66 $ 0.68 $ 1.43 $ 1.42