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Consolidated Statements Of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income        
Loans, including fees $ 19,082 $ 15,308 $ 54,363 $ 41,712
Interest and dividends on investments:        
Taxable interest 4,011 3,838 11,825 10,615
Tax exempt interest 273 277 822 956
Dividend income 227 11 477 30
Interest-earning deposits in other banks 2,460 720 7,107 1,934
Total interest income 26,053 20,154 74,594 55,247
Interest expense        
Deposits 8,127 5,127 21,649 12,934
FHLB overnight borrowings and advances 2,525 789 7,813 1,518
Federal Reserve Bank borrowings 485 267 1,925 267
Subordinate notes 264 264 789 790
Total interest expense 11,401 6,447 32,176 15,509
Net interest income 14,652 13,707 42,418 39,738
Provision for credit losses - loans 474 866 1,524 1,857
Provision for (reversal of) credit losses - unfunded commitments 11 9 (41) 79
Total provision for credit losses 485 875 1,483 1,936
Net interest income after credit loss expense 14,167 12,832 40,935 37,802
Noninterest income        
Wealth management fees 2,097 1,783 6,366 5,576
Loan service charges 303 235 690 658
Gain on sale of loans 193 33 367 150
Deposit service charges and fees 628 649 1,814 1,848
Other service charges and fees 532 472 1,542 1,334
Debit card income 597 568 1,703 1,618
Increase in cash surrender value of life insurance 116 114 340 333
Net losses on sales of debt securities     (1,119)
Change in fair value of equity securities 303 7 228 (25)
Other 84 152 342 393
Total noninterest income 4,853 4,013 13,392 10,766
Noninterest Expense        
Salaries and employee benefits 8,081 6,982 24,213 21,202
Net occupancy 1,150 1,093 3,480 3,315
Marketing and advertising 428 531 1,565 1,600
Legal and professional 490 588 1,521 1,593
Data processing 1,439 1,300 4,321 3,478
Pennsylvania bank shares tax 119 174 363 571
FDIC Insurance 550 230 1,280 610
ATM/debit card processing 307 320 969 920
Telecommunications 110 103 329 300
Nonservice pension (7) (29) (43) (88)
Lease termination       495
Other 1,250 906 3,563 2,868
Total noninterest expense 13,917 12,198 41,561 36,864
Income before federal income taxes 5,103 4,647 12,766 11,704
Federal income tax expense 885 788 2,154 1,577
Net income $ 4,218 $ 3,859 $ 10,612 $ 10,127
Per share        
Basic earnings per share $ 0.96 $ 0.89 $ 2.41 $ 2.31
Diluted earnings per share $ 0.95 $ 0.88 $ 2.41 $ 2.31