BUSINESS COMBINATIONS (Tables)

9 Months Ended

Sep. 30, 2018

Business Acquisition, Pro Forma Information

The following unaudited supplemental pro forma information is presented to show estimated results assuming Citizens and BOJ were acquired as of January 1, 2017. These unaudited pro forma results are not necessarily indicative of the operating results that the Company would have achieved had it completed the acquisitions as of January 1, 2017 and should not be considered representative of future operating results. The pro forma net income for the three months ended September 30, 2017 excludes the tax-affected amount of $0.7 million of acquisition expenses recorded in noninterest expense by the Company and BOJ. The pro forma net income for the nine months ended September 30, 2017 excludes the tax-affected amount of $1.5 million of acquisition expenses recorded in noninterest expense by the Company, Citizens, and BOJ.



	Unaudited Pro Forma for the
	Three months ended September 30,		Nine months ended September 30,
(dollars in thousands)	2017		2017
Interest income	$	15,966	$	46,065
Noninterest income	1,436		4,106
Net income	3,001		8,206

Citizens Bancshares Inc [Member]

Business Acquisition [Line Items]

Schedule Of Recognized Identified Assets Acquired and Liabilities Assumed

The table below shows the allocation of the consideration paid for Citizens’ common equity to the acquired identifiable assets and liabilities assumed and the goodwill generated from the transaction (dollars in thousands).



Purchase price:
Cash paid	$	45,800

Fair value of assets acquired:
Cash and cash equivalents	44,565
Investment securities	69,912
Loans	129,181
Bank premises and equipment	3,307
Core deposit intangible asset	1,462
Other assets	2,223
Total assets acquired	250,650

Fair value of liabilities acquired:
Deposits	212,228
Other liabilities	1,675
Total liabilities assumed	213,903

Fair value of net assets acquired	36,747
Goodwill	$	9,053

Business Combination, Separately Recognized Transactions

The tables below present information about the loans acquired with deteriorated credit quality from Citizens as of the date of acquisition (dollars in thousands).



	Purchase Credit Impaired
Contractually required principal	$	5,123
Non-accretable difference	(700		)
Cash flows expected to be collected	4,423
Accretable yield	—
Fair value of acquired loans	$	4,423

BOJ Bancshares, Inc [Member]

Business Acquisition [Line Items]

Schedule Of Recognized Identified Assets Acquired and Liabilities Assumed

The table below shows the allocation of the consideration paid for BOJ’s common equity to the acquired identifiable assets and liabilities assumed and the goodwill generated from the transaction (dollars in thousands). The fair values listed below, primarily related to loans and deferred tax assets and liabilities, are subject to refinement for up to one year after the closing date of the acquisition as additional information becomes available.



Purchase price:
Cash paid	$	3,950
Stock Issued	18,749

Fair value of assets acquired:
Cash and cash equivalents	26,438
Investment securities	16,194
Loans	102,393
Bank premises and equipment	3,725
Core deposit intangible asset	1,018
Other assets	2,375
Total assets acquired	152,143

Fair value of liabilities acquired:
Deposits	125,788
FHLB advances	5,956
Trust preferred	2,178
Other liabilities	1,209
Total liabilities assumed	135,131

Fair value of net assets acquired	17,012
Goodwill	$	5,687

Business Combination, Separately Recognized Transactions

The table below presents information about the loans acquired with deteriorated credit quality from BOJ as of the date of acquisition (dollars in thousands).



	Purchase Credit Impaired
Contractually required principal	$	4,557
Non-accretable difference	(671		)
Cash flows expected to be collected	3,886
Accretable yield	—
Fair value of acquired loans	$	3,886