Online Banking

As-Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD
Source Document Currency Code 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD

Interest and Dividend Income

Interest and fees on loans 20,082 24,944 39,254 41,851

Interest and dividends on investment securities

Taxable 2,955 2,896 2,983 3,220
Exempt from federal taxes 1,399 1,210 938 874
Interest on cash and cash equivalents 42 129 210 230
Total interest and dividend income 24,478 29,179 43,385 46,175

Interest Expense

Interest on NOW, money market and savings 590 1,004 2,289 3,862
Interest on time deposits 396 706 1,257 1,982
Interest on brokered deposits 179 301 538 1,662
Interest on FHLBP advances 787 451 752 887
Interest on repurchase agreements 51 40 28 15
Interest on junior subordinated debentures 301 344 386 465
Interest on subordinated debt 341 414 414 414
Interest on other borrowings 67 64 56 84
Total interest expense 2,712 3,324 5,720 9,371
Net interest income 21,766 25,855 37,665 36,804
Provision for credit losses 1,105 730 1,660 1,200
Net interest income after provision for credit losses 20,661 25,125 36,005 35,604

Non-interest Income

Service charges 1,131 1,146 1,223 1,119
Wealth management 1,485 1,634 1,713 1,955
Mortgage banking, net 171 282 148 243
Increase in cash surrender value of BOLI 228 226 223 216
Gains on sale of investment securities, net 78 431 50 0
Gains on sale of loans 484 39 153 38
Gain from insurance proceeds 120 1,180 203 8
Other fees 1,312 1,426 1,705 1,666
Total non-interest income 5,009 6,364 5,418 5,245

Non-interest Expense

Salaries and employee benefits 10,551 12,299 15,204 15,552
Furniture and equipment 1,239 1,493 2,065 2,166
Occupancy 1,919 2,083 2,679 2,629
Professional and consulting 1,185 1,339 1,922 1,739
Advertising and marketing 631 707 755 711
Printing and supplies 161 191 231 212
FDIC insurance 497 507 602 479
PA shares tax 602 634 867 965
Telecommunications 245 297 350 339
Loss on sale or write down of OREO, net 134 644 121 171
Due diligence and merger expense 0 2,241 77 0
Other expenses 1,865 2,206 3,148 2,912
Total non-interest expense 19,029 24,641 28,021 27,875
Income before income tax expense 6,641 6,848 13,402 12,974
Income tax expense 1,503 1,869 5,456 2,290
Net income 5,138 4,979 7,946 10,684
Preferred stock dividends 50 NA NA NA
Net income available to common stockholders 5,088 NA NA NA

Earnings per common share

Basic 1.82 1.56 1.87 2.48
Diluted 1.79 1.55 1.85 2.48
Cash dividends per common share 0.28 0.28 0.28 0.28

Weighted average common shares outstanding

Basic 2,801,881 3,186,079 4,260,137 4,303,410
Diluted 2,847,488 3,218,884 4,290,070 4,315,324

Consolidated Statements of Comprehensive Income

Net income 5,138 4,979 7,946 10,684

Other Comprehensive Income (Loss)

Unrealized holding losses on AFS investment securities arising during the period
Before tax amount (437) (56) (117) (350)
Tax effect 149 19 40 73
Total (288) (37) (77) (277)
Accretion of discount on AFS to HTM reclassification
Before tax amount 7 9 8 0
Tax effect (2) (3) (3) 0
Total 5 6 5 0
Less reclassification for gains on sales of AFS investment securities included in net income
Before tax amount (78) (410) (9) 0
Tax effect 27 139 3 0
Total (51) (271) (6) 0
Other comprehensive loss - securities (334) (302) (78) (277)
Unrealized actuarial gains (losses) - pension
Before tax amount (79) 20 (57) 212
Tax effect 27 (7) 19 (45)
Total (52) 13 (38) 167
Total other comprehensive loss (386) (289) (116) (110)
Total comprehensive income 4,752 4,690 7,830 10,574
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.