XML 50 R40.htm IDEA: XBRL DOCUMENT v3.10.0.1
Note 3 - Acquisition Activity - Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
Aug. 31, 2018
Sep. 30, 2018
Assets Acquired:    
Cash and cash equivalents $ 3,085  
Investment securities, available-for-sale 5,977  
Federal Home Loan Bank stock, at cost 565  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans 154,377  
Allowance for loan losses  
Net loans 154,377  
Premises and equipment, net 1,215  
Other real estate owned 85  
Other assets 306  
Core deposit intangible 2,048  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total 167,658  
Liabilities Assumed:    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits 140,375  
Short-term borrowings 10,000  
Other liabilities 437  
Total liabilities assumed 150,812  
Shareholders’ Equity Assumed:    
Common stock  
Surplus  
Accumulated other comprehensive income, net of tax  
Retained earnings  
Total shareholders’ equity assumed  
Total liabilities and shareholders’ equity assumed 150,812  
Net assets acquired 16,846  
Business Combination, Consideration Transferred, Total 24,398  
Goodwill, Ending Balance 7,552 $ 7,552
The Peoples Bank [Member]    
Assets Acquired:    
Cash and cash equivalents 3,085  
Investment securities, available-for-sale 5,977  
Federal Home Loan Bank stock, at cost 565  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans 156,772  
Loans, fair value adjustments (2,395)  
Allowance for loan losses (1,702)  
Allowance for loan losses, fair value adjustments 1,702  
Net loans 155,070  
Net loans, fair value adjustments (693)  
Premises and equipment, net 1,198  
Premises and equipment, net, fair value adjustments 17  
Other real estate owned 85  
Other assets 551  
Other assets, fair value adjustments (245)  
Core deposit intangible  
Core deposit intangible, fair value adjustments 2,048  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total 166,531  
Total assets acquired, fair value adjustments 1,127  
Liabilities Assumed:    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits 140,033  
Deposits, fair value adjustments 342  
Short-term borrowings 10,000  
Other liabilities 437  
Total liabilities assumed 150,470  
Total liabilities assumed, fair value adjustments 342  
Shareholders’ Equity Assumed:    
Common stock 1,027  
Common stock, fair value adjustments (1,027)  
Surplus 5,280  
Surplus, fair value adjustments (5,280)  
Accumulated other comprehensive income, net of tax 17  
Accumulated other comprehensive income, net of tax, fair value adjustments (17)  
Retained earnings 9,737  
Retained earnings, fair value adjustments (9,737)  
Total shareholders’ equity assumed 16,061  
Total shareholders’ equity assumed, fair value adjustments (16,061)  
Total liabilities and shareholders’ equity assumed 166,531  
Total liabilities and shareholders’ equity assumed, fair value adjustments (15,719)  
Business Combination, Consideration Transferred, Total 23,400  
Goodwill, Ending Balance $ 7,600