v3.25.1
CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
INTEREST AND DIVIDEND INCOME:    
Loans, including fees $ 26,014 $ 23,860
Investment securities:    
Taxable 1,723 1,594
Tax-exempt 60 97
Dividend and other interest income 581 679
TOTAL INTEREST AND DIVIDEND INCOME 28,378 26,230
INTEREST EXPENSE:    
Deposits 8,744 7,963
Short-term borrowings 1,056 2,005
Long-term borrowings 2,438 2,516
TOTAL INTEREST EXPENSE 12,238 12,484
NET INTEREST INCOME 16,140 13,746
(RECOVERY) PROVISION FOR CREDIT LOSSES (2,969) 138
NET INTEREST INCOME AFTER (RECOVERY) PROVISION FOR CREDIT LOSSES 19,109 13,608
NON-INTEREST INCOME:    
Net debt securities gains (losses), available for sale 305 (23)
Net equity securities gains (losses) 17 (10)
Bank-owned life insurance 301 463
Gain on sale of loans 408 305
Other 175 322
TOTAL NON-INTEREST INCOME 2,568 2,462
NON-INTEREST EXPENSE:    
Salaries and employee benefits 6,483 6,422
Occupancy 874 905
Furniture and equipment 997 939
Software amortization 419 190
Pennsylvania shares tax 413 320
Professional fees 505 552
Federal Deposit Insurance Corporation deposit insurance 397 359
Marketing 47 71
Intangible amortization 25 26
Loss on sale of premise and equipment 0 330
Merger Expense 1,093 0
Other 1,341 1,509
TOTAL NON-INTEREST EXPENSE 12,594 11,623
INCOME BEFORE INCOME TAX PROVISION 9,083 4,447
INCOME TAX PROVISION 1,716 639
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS' $ 7,367 $ 3,808
EARNINGS PER SHARE - BASIC (in dollars per share) $ 0.97 $ 0.51
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 0.95 $ 0.51
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares) 7,589,592 7,512,520
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares) 7,728,688 7,512,520
Service charges    
NON-INTEREST INCOME:    
Revenue from contract with customer $ 483 $ 515
Insurance commissions    
NON-INTEREST INCOME:    
Revenue from contract with customer 152 153
Brokerage commissions    
NON-INTEREST INCOME:    
Revenue from contract with customer 167 186
Loan broker commissions    
NON-INTEREST INCOME:    
Revenue from contract with customer 252 222
Debit card income    
NON-INTEREST INCOME:    
Revenue from contract with customer $ 308 $ 329