Recent Events, Including Mergers and Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Recent Events, Including Mergers and Acquisitions [Abstract]

Summary of Fair Value of Assets Acquired and Liabilities Assumed

A summary of the fair value of assets acquired and liabilities assumed from Watonga are as follows:

	Estimated Fair Value
(in thousands)
Assets Acquired
Cash and cash equivalents	$	41,747
Available-for-sale debt securities		86,166
Federal funds sold		7,941
Loans		117,335
Premises and equipment		8,669
Core deposit intangible		1,254
Prepaid expenses and other assets		4,512
Total assets acquiried	$	267,624
Liabilities Assumed
Deposits	$	243,487
Accounts payable and accrued expenses		2,086
Total liabilities assumed	$	245,573
Net assets acquired	$	22,051
Consideration transferred		29,498
Goodwill	$	7,447

Summary of Unaudited Pro Forma Information

The following table presents unaudited pro-forma information as if the acquisition of Watonga had occurred on January 1, 2020. This pro-forma information gives effect to certain adjustments, including purchase accounting fair value adjustments, amortization of core deposit and other intangibles and related income tax effects and is based on our historical results for the periods presented. Transaction-related costs related to each acquisition are not reflected in the pro-forma amounts. The pro-forma information does not necessarily reflect the results of operations that would have occurred had the Company acquired Watonga at the beginning of fiscal year 2020. Cost savings are also not reflected in the unaudited pro-forma amounts.

	Actual from Acquisition		Pro-Forma for Year Ended December 31,
	Date through December 31, 2021		2021		2020
Net interest income	$	411	$	60,420	$	54,690
Non-interest income		67		3,261		3,721
Net income		124		21,935		17,433
Pro-forma earnings per share:
Basic			$	2.42	$	1.86
Diluted			$	2.41	$	1.86