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Consolidated Statement of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
INTEREST AND DIVIDEND INCOME:      
Interest and fees on loans $ 116,075 $ 74,265 $ 66,371
Interest-bearing deposits with banks 736 400 447
Investment securities:      
Taxable 6,636 5,615 3,820
Nontaxable 2,264 2,454 2,201
Dividends 1,407 623 378
TOTAL INTEREST AND DIVIDEND INCOME 127,118 83,357 73,217
INTEREST EXPENSE:      
Deposits 31,699 7,316 5,837
Borrowed funds 15,159 3,907 1,268
TOTAL INTEREST EXPENSE 46,858 11,223 7,105
NET INTEREST INCOME 80,260 72,134 66,112
Provision for credit losses 937 1,683 1,550
Provision for credit losses - acquisition day 1 non-PCD 4,591 0 0
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 74,732 70,451 64,562
NON-INTEREST INCOME:      
Service charges 5,639 5,346 4,755
Trust 764 803 865
Brokerage and insurance 1,924 1,895 1,625
Equity security (losses) gains, net (144) (247) 339
Available for sale security (losses) gains, net (51) (14) 212
Gains on loans sold 1,452 258 1,283
Earnings on bank owned life insurance 1,254 852 1,828
Other 767 845 1,398
TOTAL NON-INTEREST INCOME 11,605 9,738 12,305
NON-INTEREST EXPENSES:      
Salaries and employee benefits 34,990 27,837 25,902
Occupancy 4,123 3,138 2,966
Furniture and equipment 822 565 519
Professional fees 1,962 1,641 1,526
Federal depository insurance 1,475 676 522
Pennsylvania shares tax 583 907 880
Amortization of intangibles 373 156 192
Merger and acquisition 9,269 292 0
ORE expenses 166 17 439
Software expenses 1,784 1,446 1,321
Other 9,275 8,019 7,283
TOTAL NON-INTEREST EXPENSES 64,822 44,694 41,550
Income before provision for income taxes 21,515 35,495 35,317
Provision for income taxes 3,704 6,435 6,199
NET INCOME $ 17,811 $ 29,060 $ 29,118
PER COMMON SHARE DATA:      
EARNINGS PER SHARE - BASIC (in dollars per share) $ 4.06 $ 7.25 $ 7.24
EARNINGS PER SHARE - DILUTED (in dollars per share) 4.06 7.25 7.24
CASH DIVIDENDS PER SHARE (in dollars per share) $ 1.94 $ 1.88 $ 1.83
Number of shares used in computation - basic (in shares) 4,382,573 4,008,931 4,023,294
Number of shares used in computation - diluted (in shares) 4,382,573 4,008,931 4,023,294