Acquisitions Acquisitions

3 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

ACQUISITIONS

FCB Acquisition

On April 1, 2017, Summit Community Bank, Inc. ("SCB"), a wholly-owned subsidiary of Summit, acquired 100% of the ownership of First Century Bankshares, Inc. ("FCB") and its subsidiary First Century Bank, headquartered in Bluefield, West Virginia. FCB's assets and liabilities approximated $406 million and $361 million, respectively, at March 31, 2017.

HCB Acquisition

On October 1, 2016, Summit Community Bank, Inc. ("SCB"), a wholly-owned subsidiary of Summit, acquired 100% of the ownership of Highland County Bankshares, Inc. ("HCB") and its subsidiary First and Citizens Bank, headquartered in Monterey, Virginia. HCB's assets and liabilities approximated $123 million and $107 million, respectively, at September 30, 2016.

The following presents the financial effects of adjustments recognized in the statement of income for the three months ended March 31, 2018 and 2017 related to business combinations that occurred during 2016 and 2017.

	Income increase (decrease)
Dollars in thousands	Three Months Ended March 31, 2018			Three Months Ended March 31, 2017
Interest and fees on loans	$	145		$	144
Interest expense on deposits	61			4
Amortization of intangibles	(386		)	(47		)
Income before income tax expense	$	(180	)	$	101