Acquisition (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Schedule of Fair Value of Assets Acquired and Liabilities Assumed

The fair value of the assets acquired and liabilities assumed on January 10, 2020 was as follows:

	As recorded by		Fair Value			As recorded by
	ABB		Adjustments			CFBI
			(in thousands)
Cash, cash equivalents and securities available-for-sale	$	41,561	$	—		$	41,561
Loans		264,176		(2,327	)		261,849
Other real estate owned		790		—			790
Core deposit intangible		—		1,913			1,913
Fixed assets and other assets		11,629		—			11,629
Total assets acquired		318,156		(414	)		317,742
Deposits		249,049		265			249,314
Borrowings and other liabilities		37,764		1,654			39,418
Total liabilities acquired		286,813		1,919			288,732
Excess of assets acquired over liabilities acquired		31,343		(2,333	)		29,010
Purchase price							40,338
Net assets acquired							29,010
Less preferred stock redeemed							(5,891	)
Net assets acquired less preferred stock							23,119
Goodwill						$	17,219

Schedule of Unaudited Proforma Information Results of Operations

The following unaudited pro forma information presents the results of operations for the year ended December 31, 2021 and 2020, as if the acquisition had occurred January 1 of each period. These unaudited proforma results are presented for illustrative purposes and are not intended to represent or be indicative of the actual results of operations of the combined company that would

have been achieved had the acquisition occurred at the beginning of each period presented, nor are they intended to represent or be indicative of future results of operations.

	Year Ended December 31,
	2021		2020
	(In thousands except per share data)
Total revenues, net of interest expense	$	32,255	$	27,599
Net income		6,512		2,028
Diluted earnings per share		0.86		0.27