v3.25.2
CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
INTEREST INCOME:        
Interest and fees on loans $ 35,227 $ 35,067 $ 70,783 $ 70,200
Interest-bearing deposits with banks 132 262 275 505
Investment securities:        
Taxable 2,397 1,663 4,736 3,287
Nontaxable 584 520 1,131 1,052
Dividends 409 390 838 791
TOTAL INTEREST INCOME 38,749 37,902 77,763 75,835
INTEREST EXPENSE:        
Deposits 11,449 12,655 23,743 24,976
Borrowed funds 3,652 3,947 7,370 8,601
TOTAL INTEREST EXPENSE 15,101 16,602 31,113 33,577
NET INTEREST INCOME 23,648 21,300 46,650 42,258
Provision for credit losses 750 2,002 1,375 2,787
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 22,898 19,298 45,275 39,471
NON-INTEREST INCOME:        
Service charges 1,303 1,385 2,594 2,757
Trust 183 201 407 445
Brokerage and insurance 627 563 1,310 1,228
Gains on loans sold 739 479 1,011 896
Equity security gains (losses), net 32 (87) 21 (32)
Gain on sale of Braavo division 0 0 0 1,102
Earnings on bank owned life insurance 355 328 701 996
Other 426 467 1,048 915
TOTAL NON-INTEREST INCOME 3,665 3,336 7,092 8,307
NON-INTEREST EXPENSES:        
Salaries and employee benefits 9,976 9,617 20,265 19,907
Occupancy 1,182 1,266 2,538 2,590
Furniture and equipment 318 295 583 531
Professional fees 525 698 1,042 1,401
FDIC insurance 495 509 945 1,034
Pennsylvania shares tax 305 330 624 640
Amortization of intangibles 127 147 254 296
Software expenses 453 494 885 1,008
Other real estate owned expenses 73 175 192 162
Other 2,693 2,715 5,247 5,320
TOTAL NON-INTEREST EXPENSES 16,147 16,246 32,575 32,889
Income before provision for income taxes 10,416 6,388 19,792 14,889
Provision for income taxes 1,953 1,113 3,708 2,590
NET INCOME $ 8,463 $ 5,275 $ 16,084 $ 12,299
PER COMMON SHARE DATA:        
Net Income - Basic (in dollars per share) $ 1.76 $ 1.1 $ 3.35 $ 2.56
Net Income - Diluted (in dollars per share) 1.76 1.1 3.35 2.56
Cash Dividends Paid (in dollars per share) $ 0.49 $ 0.48 $ 0.98 $ 0.961
Number of shares used in computation - basic (in shares) 4,797,716 4,796,000 4,797,642 4,795,596
Number of shares used in computation - diluted (in shares) 4,800,384 4,800,770 4,800,862 4,800,991