Business Combination (Tables)

9 Months Ended

Sep. 30, 2020

Business combinations:

Schedule of Fair Value of Identifiable Assets Acquired and Liabilities [Table Text Block]

In connection with the acquisition, the consideration paid and the fair value of identifiable assets acquired and liabilities assumed as of the date of acquisition are summarized in the following table:

	Estimated Fair
	Value at
	January 2, 2020
	(in thousands)
Consideration paid:
Common stock issued in acquisition	$	118,375
Cash paid in acquisition		23,977
Total consideration paid:		142,352
Assets acquired:
Cash and cash equivalents		111,368
Securities available-for-sale		20,073
Loans, net		774,720
Premises and equipment, net		12,826
Accrued interest receivable		2,910
Core deposit intangibles		8,076
Other assets		19,309
Total assets acquired		949,282
Liabilities assumed:
Deposits		785,378
Borrowings		49,742
Other liabilities		17,609
Total liabilities assumed		852,729
Net assets acquired		96,553
Goodwill recorded in acquisition	$	45,799

Schedule of BNJ Acquisition [Table Text Block]

The following is a summary of the loans accounted for in accordance with ASC 310-30 that were acquired in the BNJ acquisition as of the Merger date:

	Estimated Fair
	Value at
	January 2, 2020
	(in thousands)
Contractually required principal and interest acquisition	$	14,416
Contractual cash flows not expected to be collected (non-accretable discount)		(2,111	)
Expected cash flows at acquisition		12,305
Interest component of expected cash flows (accretable discount)		(605	)
Fair value of acquired loans	$	11,700