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ACQUISITIONS (Tables)
12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
Schedule of Business Acquisitions The following table summarizes the consideration paid for Westbound and the fair value of the assets acquired and liabilities assumed recognized at the acquisition date

Consideration:

 

 

 

Westbound

 

Cash

 

$

6,423

 

Equity instruments

 

 

29,568

 

Fair value of total consideration transferred

 

$

35,991

 

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition, June 1, 2018.

 

 

 

Westbound

 

Cash and due from banks

 

$

24,927

 

Investment securities available for sale

 

 

15,264

 

Loans, net of discount

 

 

154,687

 

Accrued interest receivable

 

 

651

 

Premises and equipment

 

 

8,625

 

Core deposit intangible

 

 

2,700

 

Other assets

 

 

9,205

 

Total assets acquired

 

 

216,059

 

 

 

 

 

 

Non-interest bearing deposits

 

 

40,595

 

Interest bearing deposits

 

 

140,826

 

Federal Home Loan Bank advances

 

 

10,500

 

Accrued interest and other liabilities

 

 

1,565

 

Total liabilities assumed

 

 

193,486

 

 

 

 

 

 

Net assets acquired

 

 

22,573

 

 

 

 

 

 

Total consideration paid

 

 

35,991

 

 

 

 

 

 

Goodwill

 

$

13,418