Business Combination (Tables)

9 Months Ended

Sep. 30, 2015

Business Combinations [Abstract]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed at Date of Acquisition

The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the date of the acquisition for Colonial, net of total consideration paid (in thousands):

	At July 31, 2015
	Colonial Book Value			Purchase Accounting Adjustments			Estimated Fair Value
Assets acquired:
Securities	$	6,758		$	—		$	6,758
Loans		125,063			(3,867	)(1)		121,196
Allowance for loan losses		(1,578	)		1,578			—
Other real estate owned		405			(148	)		257
Deferred tax asset – recognition of net operating loss carryforward		—			2,292			2,292
– relating to purchase accounting adjustments		—			952			952
Other assets		8,823			—			8,823
Core deposit intangible		—			277			277
Goodwill		—			1,845			1,845
Total assets acquired		139,471			2,929			142,400
Liabilities assumed:
Deposits		123,103			243			123,346
Federal Home Loan Bank advances		6,800			—			6,800
Other liabilities		309			—			309
Total liabilities assumed		130,212			243			130,455
Net assets acquired	$	9,259		$	2,686		$	11,945

(1) Includes a general credit fair value deduction of $1,722,000; a fair value deduction on credit-impaired loans of $1,475,000; an interest rate fair value benefit of $980,000; and further credited by the write-off of Colonial’s capitalized loan origination costs of $1,650,000.