Business Combination (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of Total Consideration Transferred and Fair Value of Identifiable Assets Acquired and Liabilities Assumed

The following table summarizes the fair value of the total consideration transferred as a part of the River Valley acquisition as well as the fair value of identifiable assets acquired and liabilities assumed as of the effective date of the transaction.



Consideration
Cash for Options and Fractional Shares	$	395
Cash Consideration	24,975
Equity Instruments	62,022

Fair Value of Total Consideration Transferred	$	87,392

Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed:
Cash	$	17,877
Federal Funds Sold and Other Short-term Investments	6,477
Interest-bearing Time Deposits with Banks	992
Securities	132,396
Loans	317,760
Stock in FHLB of Indianapolis and Other Restricted Stock, at Cost	3,127
Premises, Furniture & Equipment	10,219
Other Real Estate	882
Intangible Assets	2,613
Company Owned Life Insurance	12,842
Accrued Interest Receivable and Other Assets	8,958
Deposits - Non Interest Bearing	(9,584		)
Deposits - Interest Bearing	(395,862		)
FHLB Advances and Other Borrowings	(49,910		)
Accrued Interest Payable and Other Liabilities	(4,530		)

Total Identifiable Net Assets	$	54,257

Goodwill	$	33,135

Pro forma information

The unaudited pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transaction been effected on the assumed date.



	Pro Forma Three Months Ended 9/30/2016		Pro Forma Three Months Ended 9/30/2015

Net Interest Income	$	24,560	$	25,165
Non-interest Income	8,384		8,857
Total Revenue	32,944		34,022
Provision for Loan Losses Expense	—		(500		)
Non-interest Expense	18,465		20,817
Income Before Income Taxes	14,479		13,705
Income Tax Expense	4,182		3,357
Net Income	10,297		10,348
Earnings Per Share and Diluted Earnings Per Share	$	0.67	$	0.68



	Pro Forma Nine Months Ended 9/30/2016		Pro Forma Nine Months Ended 9/30/2015

Net Interest Income	$	72,907	$	73,313
Non-interest Income	24,298		24,445
Total Revenue	97,205		97,758
Provision for Loan Losses Expense	1,200		—
Non-interest Expense	54,877		57,338
Income Before Income Taxes	41,128		40,420
Income Tax Expense	12,263		11,029
Net Income	28,865		29,391
Earnings Per Share and Diluted Earnings Per Share	$	1.89	$	1.93