CONSOLIDATED STATEMENT OF INCOME - USD ($) $ in Thousands |
12 Months Ended |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
| INTEREST AND DIVIDEND INCOME: |
|
|
|
| Loans, including fees |
$ 42,056
|
$ 39,134
|
$ 36,495
|
| Investment securities: |
|
|
|
| Taxable |
2,424
|
3,426
|
5,111
|
| Tax-exempt |
1,498
|
2,795
|
3,453
|
| Dividend and other interest income |
835
|
769
|
547
|
| TOTAL INTEREST AND DIVIDEND INCOME |
46,813
|
46,124
|
45,606
|
| INTEREST EXPENSE: |
|
|
|
| Deposits |
3,547
|
3,129
|
2,995
|
| Short-term borrowings |
46
|
116
|
54
|
| Long-term borrowings |
1,974
|
1,974
|
1,913
|
| TOTAL INTEREST EXPENSE |
5,567
|
5,219
|
4,962
|
| NET INTEREST INCOME |
41,246
|
40,905
|
40,644
|
| PROVISION FOR LOAN LOSSES |
1,196
|
2,300
|
2,850
|
| NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES |
40,050
|
38,605
|
37,794
|
| NON-INTEREST INCOME: |
|
|
|
| Service charges |
2,249
|
2,383
|
2,419
|
| Securities gains, available for sale |
1,611
|
2,592
|
3,515
|
| Securities gains (losses), trading |
58
|
(22)
|
0
|
| Bank-owned life insurance |
684
|
720
|
923
|
| Gain on sale of loans |
2,102
|
1,743
|
1,803
|
| Insurance commissions |
795
|
781
|
1,146
|
| Brokerage commissions |
1,098
|
1,064
|
1,077
|
| Other |
3,516
|
3,504
|
3,625
|
| TOTAL NON-INTEREST INCOME |
12,113
|
12,765
|
14,508
|
| NON-INTEREST EXPENSE: |
|
|
|
| Salaries and employee benefits |
17,813
|
17,023
|
17,273
|
| Occupancy |
2,223
|
2,248
|
2,301
|
| Furniture and equipment |
2,793
|
2,622
|
2,536
|
| Pennsylvania shares tax |
873
|
954
|
907
|
| Amortization of investment in limited partnerships |
312
|
661
|
661
|
| Federal Deposit Insurance Corporation deposit insurance |
767
|
867
|
746
|
| Marketing |
740
|
612
|
532
|
| Intangible amortization |
366
|
311
|
345
|
| Other |
9,204
|
8,438
|
8,589
|
| TOTAL NON-INTEREST EXPENSE |
35,091
|
33,736
|
33,890
|
| INCOME BEFORE INCOME TAX PROVISION |
17,072
|
17,634
|
18,412
|
| INCOME TAX PROVISION |
4,597
|
3,736
|
3,804
|
| NET INCOME |
$ 12,475
|
$ 13,898
|
$ 14,608
|
| EARNINGS PER SHARE - BASIC AND DILUTED (in dollars per share) |
$ 2.64
|
$ 2.91
|
$ 3.03
|
| WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC AND DILUTED (in shares) |
4,735,457
|
4,772,239
|
4,816,149
|
| DIVIDENDS PER SHARE (in dollars per share) |
$ 1.88
|
$ 1.88
|
$ 1.88
|