Note 9 - Acquisition (Tables)

6 Months Ended

Jun. 30, 2022

Notes Tables

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Purchase Price Consideration in Common Stock
Landmark shares settled for stock		2,382,695
Exchange ratio		0.272
Total FDBC shares issued		647,990
Value assigned to FDBC common share (6/30/2021 closing price)	$	54.10
Purchase price assigned to Landmark common shares exchanged for FDBC common shares	$	35,056,259
Purchase Price Consideration - Cash for Common Stock
Landmark shares exchanged for cash, excluding fractional shares		2,382,695
Cash consideration (per Landmark share)	$	3.26
Cash portion of purchase price	$	7,767,586
Cash portion of purchase price (cash paid fractional shares)	$	5,559
Cash for outstanding Landmark stock options	$	69,250
Total consideration paid	$	42,898,654

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

Allocation of Purchase Price	In thousands
Total Purchase Price			$	42,899
Estimated Fair Value of Assets Acquired
Cash and cash equivalents		4,090
Investment securities		49,430
Loans		298,860
Restricted investments in bank stock		1,186
Premises and equipment		3,405
Lease property under finance leases		1,188
Core deposit intangible asset		597
Other real estate owned		488
Other assets		11,629
Total assets acquired		370,873
Estimated Fair Value of Liabilities Assumed
Non-interest bearing deposits		100,472
Interest bearing deposits		208,057
Short-term borrowings		2,224
FHLB borrowings		4,602
Secured borrowings		20,619
Finance lease obligation		1,188
Other liabilities		3,387
Total liabilities assumed		340,549
Net Assets Acquired				30,324
Goodwill Recorded in Acquisition			$	12,575

Business Combination, Schedule Of Fair Value Adjustments Of Loans Acquired [Table Text Block]

Dollars in thousands
Gross amortized cost basis at June 30, 2021	$	309,767
Interest rate fair value adjustment on pools of homogeneous loans		(1,855	)
Credit fair value adjustment on pools of homogeneous loans		(7,915	)
Credit fair value adjustment on purchased credit impaired loans		(1,137	)
Fair value of acquired loans at June 30, 2021	$	298,860

Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block]

Dollars in thousands
Contractual principal and interest at acquisition	$	5,306
Non-accretable difference		(1,691	)
Expected cash flows at acquisition		3,615
Accretable yield		(588	)
Fair value of purchased impaired loans	$	3,027