|
Consolidated Statements of Income (USD $) In Thousands, except Share data, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| Interest and Dividend Income: |
|
|
| Interest and fees on loans and leases |
$ 19,183 |
$ 21,921 |
| Interest and dividends on investment securities: Taxable |
2,861 |
3,163 |
| Interest and dividends on investment securities: Exempt from federal taxes |
1,098 |
604 |
| Interest on cash and cash equivalents |
70 |
41 |
| Total interest and dividend income |
23,212 |
25,729 |
| Interest Expense: |
|
|
| Interest on NOW, money market and savings |
740 |
901 |
| Interest on time deposits |
1,071 |
1,531 |
| Interest on FHLB advances |
653 |
848 |
| Interest on repurchase agreements |
45 |
71 |
| Interest on junior subordinated debentures |
303 |
324 |
| Interest on other borrowings |
76 |
80 |
| Total interest expense |
2,888 |
3,755 |
| Net interest income |
20,324 |
21,974 |
| Provision for credit losses |
2,530 |
1,455 |
| Net interest income after provision for credit losses |
17,794 |
20,519 |
| Non-interest Income: |
|
|
| Service charges |
1,307 |
1,359 |
| Wealth management |
1,247 |
1,033 |
| Increase in cash surrender value of BOLI |
238 |
242 |
| Gains on sale of investment securities, net |
610 |
418 |
| Gains on sale of loans |
162 |
158 |
| Other fees |
1,231 |
1,318 |
| Total non-interest income |
4,795 |
4,528 |
| Non-interest Expense: |
|
|
| Salaries and employee benefits |
9,437 |
9,009 |
| Furniture and equipment |
1,143 |
1,234 |
| Occupancy |
2,011 |
1,899 |
| Professional and consulting |
1,163 |
1,292 |
| Advertising and marketing |
642 |
584 |
| Printing and supplies |
149 |
163 |
| FDIC insurance |
512 |
470 |
| PA shares tax |
620 |
566 |
| Telecommunications |
231 |
211 |
| (Gain) loss on sale or write down of OREO |
(106) |
440 |
| Other expenses |
1,648 |
1,834 |
| Total non-interest expense |
17,450 |
17,702 |
| Income before income tax expense |
5,139 |
7,345 |
| Income tax expense |
1,220 |
2,106 |
| Net income |
3,919 |
5,239 |
| Preferred stock dividends and accretion of discount |
148 |
332 |
| Net income available to Common Shareholders |
$ 3,771 |
$ 4,907 |
| Earnings per common share: |
|
|
| Basic |
$ 1.38 |
$ 1.81 |
| Diluted |
$ 1.36 |
$ 1.79 |
| Cash dividends per common share |
$ 0.28 |
$ 0.20 |
| Weighted average common shares outstanding: |
|
|
| Basic |
2,742,417 |
2,710,819 |
| Diluted |
2,780,752 |
2,739,954 |