Business Combination (Table)

6 Months Ended

Jun. 30, 2017

Business Combination [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The statement of net assets acquired and the resulting goodwill recorded is presented in the following tables. As explained in the notes that accompany the following table, the purchased assets, assumed liabilities and identifiable assets were recorded at the acquisition date fair value.

	Acquired				Acquired
	Balances as		Fair		Balances as
	Recorded By		Value		Recorded By
	Northwest Bank		Adjustments		Shore United Bank
Cash and due from banks	$	81,231	$	-	$	81,231
Loans		125,131		(2,269)		122,862
Less: allowance for credit losses		-		-		-
Loans, net		125,131		(2,269)		122,862
						-
Premises and equipment, net		5,363		963		6,326
Core deposit intangible		-		3,954		3,954
Total assets	$	211,725	$	2,648	$	214,373
Deposits:
Noninterest-bearing	$	34,481	$	-	$	34,481
Interest-bearing		177,237		738		177,975
Total deposits		211,718		738		212,456
Other liabilities		7		-		7
Total liabilities	$	211,725	$	738	$	212,463
Net assets acquired	$	-	$	1,910	$	1,910

The following table summarizes the acquired assets and assumed liabilities in the purchase as of the acquisition date, and the resulting goodwill of $15.3 million resulting from the transaction (in thousands):

Assets acquired at fair value:
Cash and cash equivalents	$	81,231
Loans		122,862
Premises and equipment, net		6,326
Core deposit intangible		3,954
Total fair value of assets acquired	$	214,373
Liabilities assumed at fair value:
Deposits	$	212,456
Other liabilities		7
Total fair value of liabilities assumed	$	212,463
Net assets acquired at fair value:	$	1,910
Transaction consideration paid to Northwest Bank	$	17,186
Amount of goodwill resulting from acquisition	$	15,276

Schedule of Contractually Required Payments Receivable

The following table outlines the contractually required payments receivable, cash flows we expect to receive, and the accretable yield for all NWBI loans as of the acquisition date.

	Contractually
	Required		Cash Flows				Carrying Value
	Payments		Expected To Be		Accretable FMV		of Loans
	Receivable		Collected		Adjustments		Receivable
Performing loans acquired	$	125,131		125,131		2,269	$	122,862