XML 74 R23.htm IDEA: XBRL DOCUMENT v2.4.0.6
Acquisitions (Tables)
3 Months Ended
Mar. 31, 2013
Business Acquisition [Line Items]  
Schedule of Business Acquisition

 

 

 

 

 

 

 

 

 

 

(preliminary)

 

 

 

VSB

Community

Total

 

 

 

 

 

 

 

Date of acquisition:

 

May 31, 2012

 

January 10, 2013

 

 

 

 

 

 

 

 

 

Consideration:

 

 

 

 

 

 

 Cash

$

4,672 

$

12,738 

$

17,410 

 Common stock

 

7,723 

 

27,783 

 

35,506 

 Warrant issued

 

 -

 

924 

 

924 

 

$

12,395 

$

41,445 

$

53,840 

 

 

 

 

 

 

 

Identifiable assets:

 

 

 

 

 

 

 Cash and cash equivalents

$

24,943 

$

8,888 

$

33,831 

 Investment securities

 

14,082 

 

17,698 

 

31,780 

 Loans

 

73,463 

 

369,071 

 

442,534 

 Bank owned life insurance

 

 -

 

6,935 

 

6,935 

 Premises and equipment

 

5,158 

 

8,950 

 

14,108 

 Deferred tax asset, net

 

4,173 

 

14,945 

 

19,118 

 Other assets

 

4,626 

 

8,143 

 

12,769 

  Total identifiable assets

 

126,445 

 

434,630 

 

561,075 

 

 

 

 

 

 

 

Identifiable liabilities:

 

 

 

 

 

 

 Deposits

 

122,723 

 

383,070 

 

505,793 

 Other liabilities

 

841 

 

22,304 

 

23,145 

  Total identifiable liabilities

 

123,564 

 

405,374 

 

528,938 

 

 

 

 

 

 

 

Net identifiable assets

 

2,881 

 

29,256 

 

32,137 

Goodwill

 

8,241 

 

9,478 

 

17,719 

Core deposit intangible

 

1,273 

 

2,711 

 

3,984 

 

$

12,395 

$

41,445 

$

53,840 

 

Acquired Loans At Acquisition

 

 

 

 

 

 

 

 

VSB

Community

Total

Contractual required principal and interest

$

8,789 

$

74,365 

$

83,154 

Nonaccretable difference

 

(1,502)

 

(25,499)

 

(27,001)

Expected cash flows

 

7,287 

 

48,866 

 

56,153 

Accretable yield

 

(1,401)

 

(6,666)

 

(8,067)

Basis in acquired loans

$

5,886 

$

42,200 

$

48,086 

 

Schedule Of Intangible Assets

 

 

 

 

Intangible Assets

Balance, January 1, 2013

$

2,069 

Core deposit intangible acquired in conjunction with the acquisition of Community

 

2,711 

Amortization expense

 

(260)

Balance, March 31, 2013

$

4,520 

 

Schedule Of Goodwill

 

 

 

 

Goodwill

Balance, January 1, 2013

$

62,988 

Adjustment to goodwill acquired in conjunction with the acquisition of VSB

 

143 

Goodwill acquired in conjunction with the acquisition of Community

 

9,478 

Balance, March 31, 2013

$

72,609 

 

Virginia Savings Bank And Community Bank [Member]
 
Business Acquisition [Line Items]  
Acquired Loans At Acquisition

 

 

 

 

 

 

 

 

VSB

Community

Total

 

 

 

 

 

 

 

Contractually required principal and interest

$

11,567 

$

77,770 

$

89,337 

Contractual cash flows not expected to be collected (non-accretable difference)

 

(3,973)

 

(25,499)

 

(29,472)

Expected cash flows

 

7,594 

 

52,271 

 

59,865 

Interest component of expected cash flows (accretable difference)

 

(954)

 

(6,721)

 

(7,675)

Estimated fair value of purchased credit impaired loans acquired

$

6,640 

$

45,550 

$

52,190