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CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
INTEREST AND DIVIDEND INCOME:        
Loans, including fees $ 10,466 $ 9,752 $ 20,821 $ 19,075
Investment securities:        
Taxable 601 885 1,223 1,899
Tax-exempt 398 744 874 1,511
Dividend and other interest income 204 148 477 441
TOTAL INTEREST AND DIVIDEND INCOME 11,669 11,529 23,395 22,926
INTEREST EXPENSE:        
Deposits 881 785 1,716 1,528
Short-term borrowings 8 28 34 47
Long-term borrowings 492 494 983 1,018
TOTAL INTEREST EXPENSE 1,381 1,307 2,733 2,593
NET INTEREST INCOME 10,288 10,222 20,662 20,333
PROVISION FOR LOAN LOSSES 258 600 608 1,300
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 10,030 9,622 20,054 19,033
NON-INTEREST INCOME:        
Service charges 561 598 1,093 1,151
Net securities gains, available for sale 486 526 921 1,187
Net securities gains (losses), trading 6 (4) 46 (4)
Bank-owned life insurance 161 171 345 359
Gain on sale of loans 566 482 1,033 781
Insurance commissions 200 204 405 438
Brokerage commissions 272 294 527 539
Other 926 786 1,805 1,866
TOTAL NON-INTEREST INCOME 3,178 3,057 6,175 6,317
NON-INTEREST EXPENSE:        
Salaries and employee benefits 4,346 4,301 8,926 8,771
Occupancy 545 564 1,086 1,192
Furniture and equipment 679 643 1,380 1,238
Pennsylvania shares tax 220 243 478 467
Amortization of investment in limited partnerships 68 166 220 331
Federal Deposit Insurance Corporation deposit insurance 236 230 468 445
Marketing 185 145 395 274
Intangible amortization 100 80 187 162
Other 2,287 2,049 4,587 4,009
TOTAL NON-INTEREST EXPENSE 8,666 8,421 17,727 16,889
INCOME BEFORE INCOME TAX PROVISION 4,542 4,258 8,502 8,461
INCOME TAX PROVISION 1,152 825 2,034 1,673
NET INCOME $ 3,390 $ 3,433 $ 6,468 $ 6,788
EARNINGS PER SHARE - BASIC AND DILUTED (in dollars per share) $ 0.72 $ 0.72 $ 1.37 $ 1.42
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC AND DILUTED (in shares) 4,733,251 4,779,687 4,736,878 4,790,536
DIVIDENDS DECLARED PER SHARE (in dollars per share) $ 0.47 $ 0.47 $ 0.94 $ 0.94