ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2021

ACQUISITIONS

Schedule of recognized identified assets acquired and liabilities assumed

The fair value of the assets acquired and liabilities assumed from NXT on the acquisition date were as follows (dollars in thousands):

	Fair Value
Assets acquired:
Cash and cash equivalents	$	5,862
Interest-bearing time deposits with banks		739
Debt securities		18,295
Equity securities with readily determinable fair value		43
Restricted stock		796
Loans		194,576
Bank owned life insurance		7,352
Bank premises and equipment		3,667
Core deposit intangible assets		199
Mortgage servicing rights		370
Accrued interest receivable		886
Other assets		1,340
Total assets acquired		234,125
Liabilities assumed:
Deposits		181,586
Securities sold under agreements to repurchase		4,080
FHLB advances		12,625
Other liabilities		1,633
Total liabilities assumed		199,924
Net assets acquired	$	34,201
Consideration paid:
Cash	$	10,633
Common stock		29,270
Total consideration paid	$	39,903
Goodwill	$	5,702

The following table presents the acquired non-impaired loans as of the acquisition date (dollars in thousands):

Fair Value	$	194,576
Gross contractual amounts receivable		196,104
Estimate of contractual cash flows not expected to be collected		1,045

Business acquisition, pro forma information

	Pro Forma
	Year Ended December 31,
	2021		2020
	(dollars in thousands, except per share data)
Total revenues (net interest income and noninterest income)	$	166,677	$	161,005
Net income		57,883		39,263
Earnings per share - basic		1.98		1.34
Earnings per share - diluted		1.98		1.34