Note 10 - Business Combinations - Acquisition of Feather River Bancorp, Inc. (Tables)

3 Months Ended

Mar. 31, 2022

Notes Tables

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

Assets:
Cash and cash equivalents	$	28,369
Loans		160,409
Core deposit intangible		1,037
Goodwill		5,502
Bank premises and equipment		2,657
Right of use asset		2,359
Other assets		4,627
Total assets acquired	$	204,960
Liabilities:
Deposits:
Non-interest bearing	$	89,479
Interest bearing
Savings accounts		9,353
Money market accounts		45,600
Time accounts		32,279
Total deposits		176,711
Lease Liabilities		2,359
Deferred tax liability		402
Other liabilities		2,093
Total liabilities assumed	$	181,565
Merger consideration (cash payments of $4.7 million and $18.7 million in stock)	$	23,395

Book value of net assets acquired from FRB	$	16,292
Fair value adjustments:
Loans		2,453
Bank premises and equipment		(1,218	)
Right of use asset		2,359
Lease liability		(2,359	)
Core deposit intangible asset		1,037
Total purchase accounting adjustments	$	2,272
Deferred tax liabilities (tax effect of purchase accounting adjustments at 29.56%)		(671	)
Fair value of net assets acquired from FRB	$	17,893
Merger consideration		23,395
Less: fair value of net assets acquired from FRB		(17,893	)
Goodwill		5,502