Acquisitions (Tables)

3 Months Ended

Mar. 31, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the fair value of the total consideration transferred as a part of the CNNB acquisition and the fair value of identifiable assets acquired and liabilities assumed as of the effective date of the transaction (in thousands):

Consideration:
Cash consideration	$	9,475
Common stock (2,042,598 shares issued at $13.99 per share)	28,576
Fair value of total consideration transferred	38,051
Identifiable Assets Acquired:
Cash and cash equivalents	11,368
Debt securities, available-for-sale	5,210
Federal Home Loan Bank stock	7,508
Loans, net	236,692
Premises and equipment	2,767
Operating lease right-of-use assets	64
Core deposit and other intangibles	8,391
Bank owned life insurance	4,413
Deferred income taxes	4,451
Other assets	12,896
Total identifiable assets acquired	293,760
Liabilities Assumed:
Deposits	210,532
Short-term borrowings	55,999
Long-term debt	5,963
Operating lease liabilities	64
Other liabilities	3,489
Total liabilities assumed	276,047
Total Identifiable Net Assets Acquired	17,713
Goodwill Resulting From Merger	$	20,338

The following table summarizes the fair value of the total consideration transferred as a part of the EFBI acquisition (in thousands):

Consideration:
Cash consideration	$	10,256
Common stock (918,128 shares issued at $14.04 per share)	12,891
Fair value of total consideration transferred	$	23,147