XML 20 R4.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
INTEREST INCOME      
Interest and fees on loans and leases $ 103,507 $ 88,078 $ 61,692
Interest and dividends on investment securities:      
U.S. Treasury and government agencies 1,631 3,084 3,518
State and political subdivision obligations, tax-exempt 1,008 2,046 2,323
Other securities 1,253 782 595
Total interest and dividends on investment securities 3,892 5,912 6,436
Interest on interest-bearing balances 39 100 75
Interest on federal funds sold 497 1,222 451
Total Interest Income 107,935 95,312 68,654
INTEREST EXPENSE      
Interest on deposits 16,399 21,550 10,884
Interest on short-term borrowings 371 470 207
Interest on long-term and subordinated debt 2,957 3,144 1,629
Total Interest Expense 19,727 25,164 12,720
Net Interest Income 88,208 70,148 55,934
PROVISION FOR LOAN AND LEASE LOSSES 4,200 1,390 500
Net Interest Income After Provision for Loan and Lease Losses 84,008 68,758 55,434
NONINTEREST INCOME      
Net gain on sales of investment securities 467 1,878 137
Earnings from cash surrender value of life insurance 301 314 286
Net gain on sales of SBA loans 442 831 561
Other income 2,333 1,520 2,039
Total Noninterest Income 17,908 12,621 7,462
NONINTEREST EXPENSE      
Salaries and employee benefits 37,758 32,360 23,862
Occupancy expense, net 5,505 5,352 4,019
Equipment expense 2,910 2,647 2,186
Software licensing and utilization 5,286 4,394 3,609
FDIC Assessment 1,680 839 772
Legal and professional fees 1,665 1,679 1,117
Charitable contributions qualifying for State tax credits 1,342 755 585
Mortgage banking profit-sharing expense 2,004    
Pennsylvania Bank Shares Tax expense 583 777 225
Marketing and advertising expense 542 906 1,025
Telephone expense 539 609 621
Loss (gain) on sale or write-down of foreclosed assets 333 (15) 4
Intangible amortization 1,398 1,430 1,224
Merger and acquisition expense     4,790
Other expenses 9,032 8,220 6,132
Total Noninterest Expense 70,577 59,953 50,171
INCOME BEFORE PROVISION FOR INCOME TAXES 31,339 21,426 12,725
Provision for income taxes 5,130 3,725 2,129
NET INCOME 26,209 17,701 10,596
Series D preferred stock dividends     102
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 26,209 $ 17,701 $ 10,494
PER COMMON SHARE DATA:      
Basic Earnings Per Common Share $ 3.11 $ 2.09 $ 1.48
Diluted Earnings Per Common Share 3.10 2.09 1.48
Cash Dividends Declared $ 0.82 $ 0.79 $ 0.45
Income from Fiduciary Activities [Member]      
NONINTEREST INCOME      
Non-interest Income $ 1,694 $ 1,416 $ 1,155
Service Charges on Deposits [Member]      
NONINTEREST INCOME      
Non-interest Income 637 884 933
Mortgage Banking Income [Member]      
NONINTEREST INCOME      
Non-interest Income 9,682 3,771 751
ATM Debit Card Interchange Income [Member]      
NONINTEREST INCOME      
Non-interest Income 1,960 1,594 1,253
Merchant Services Income [Member]      
NONINTEREST INCOME      
Non-interest Income $ 392 $ 413 $ 347