Online Banking

As-Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2012 Y 12/31/2013 USD 2013 Y 12/31/2014 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2015 USD 2016 Q3 YTD 9/30/2016 USD
Source Document Currency Code 2012 Y 12/31/2013 USD 2013 Y 12/31/2014 USD 2014 Y 12/31/2015 USD 2015 Y 12/31/2015 USD 2016 Q3 YTD 9/30/2016 USD

Interest Income

Interest and fees on loans 21,921 19,183 19,588 20,082 15,377

Interest and dividends on investment securities

Taxable 3,163 2,861 2,850 2,955 2,150
Exempt from federal taxes 604 1,098 1,116 1,399 944
Interest on cash and cash equivalents 41 70 42 42 91
Total interest and dividend income 25,729 23,212 23,596 24,478 18,562

Interest Expense

Interest on NOW, money market and savings 901 740 541 590 588
Interest on time deposits 1,531 1,071 697 396 396
Interest on brokered deposits NA 0 53 179 214
Interest on FHLB advances 848 653 613 787 276
Interest on repurchase agreements 71 45 39 51 30
Interest on junior subordinated debentures 324 303 295 301 254
Interest on subordinated debt NA NA 0 341 311
Interest on other borrowings 80 76 73 67 49
Total interest expense 3,755 2,888 2,311 2,712 2,118
Net interest income 21,974 20,324 21,285 21,766 16,444
Provision for credit losses 1,455 2,530 1,130 1,105 630
Net interest income after provision for credit losses 20,519 17,794 20,155 20,661 15,814

Non-interest Income

Service charges 1,359 1,307 1,226 1,131 827
Wealth management 1,033 1,247 1,314 1,485 1,231
Mortgage banking NA 0 92 171 189
Increase in cash surrender value of BOLI 242 238 235 228 166
Gain on sale of investment securities, net 418 610 858 78 431
Gain on sale of loans 158 162 0 484 39
Gains from insurance proceeds NA NA 0 120 1,180
Other fees 1,318 1,231 1,233 1,312 1,022
Total non-interest income 4,528 4,795 4,958 5,009 5,085

Non-interest Expense

Salaries and employee benefits 9,009 9,437 9,998 10,551 8,636
Furniture and equipment 1,234 1,143 1,289 1,239 1,093
Occupancy 1,899 2,011 2,119 1,919 1,459
Professional and consulting 1,292 1,163 1,216 1,185 948
Advertising and marketing 584 642 662 631 460
Printing and supplies 163 149 165 161 129
FDIC insurance 470 512 455 497 323
PA shares tax 566 620 602 602 476
Telecommunications 211 231 252 245 185
Postage NA NA NA NA 70
Loss on sale or write down of OREO, net 440 (106) 7 134 164
Due diligence and merger expense NA NA NA NA 1,961
Other expenses 1,834 1,648 1,867 1,865 1,390
Total non-interest expense 17,702 17,450 18,632 19,029 17,294
Income before income tax expense 7,345 5,139 6,481 6,641 3,605
Income tax expense 2,106 1,220 1,677 1,503 939
Net income 5,239 3,919 4,804 5,138 2,666
Preferred stock dividends and accretion of discount 332 148 135 50 0
Net income available to common shareholders 4,907 3,771 4,669 5,088 2,666

Earnings per common share

Basic 1.81 1.38 1.69 1.82 0.94
Diluted 1.79 1.36 1.66 1.79 0.93
Cash dividends per common share 0.20 0.28 0.28 0.28 0.21

Weighted average common shares outstanding

Basic 2,710,819 2,742,417 2,766,723 2,801,881 2,844,780
Diluted 2,739,954 2,780,752 2,812,726 2,847,488 2,879,240

Consolidated Statements of Comprehensive Income

Net income 5,239 3,919 4,804 5,138 2,666

Other Comprehensive (Loss) Income

Unrealized holding (losses) gains arising during the period
Before tax amount 1,684 (3,102) 2,237 (437) 1,786
Tax effect (572) 1,055 (760) 149 (607)
Total 1,112 (2,047) 1,477 (288) 1,179
Accretion of discount on AFS to HTM reclassification
Before tax amount 38 22 8 7 9
Tax effect (13) (7) (3) (2) (3)
Total 25 15 5 5 6
Less reclassification for gains included in net income
Before tax amount (418) (610) (443) (78) (410)
Tax effect 142 207 151 27 139
Total (276) (403) (292) (51) (271)
Other comprehensive income (loss) - securities 861 (2,435) 1,190 (334) NA
Unrealized actuarial losses - pension
Before tax amount (103) 1,129 (630) (79) NA
Tax effect 35 (384) 214 27 NA
Other comprehensive (loss) income - pension (68) 745 (416) (52) NA
Total other comprehensive (loss) income 793 (1,690) 774 (386) 914
Total comprehensive (loss) income 6,032 2,229 5,578 4,752 3,580
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.