XML 67 R48.htm IDEA: XBRL DOCUMENT v3.10.0.1
Note 20 - Business Acquisition (Tables)
12 Months Ended
Dec. 31, 2018
Notes Tables  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]
(In Thousands, Except Per Share Data)
               
Purchase Price Consideration in Common Stock
               
Middlefield Banc Corp. shares issued
   
544,610
     
 
 
Value assigned to Middlefield Banc Corp. common shares
  $
38.55
     
 
 
Purchase price assigned to Liberty common shares exchanged for
   
 
     
20,995
 
Middlefield Banc Corp. shares
               
Purchase Price Consideration in Cash
               
Purchase price assigned to Liberty common shares exchanged for cash
   
 
     
21,173
 
Total Purchase Price
   
 
     
42,168
 
Previously held equity interest in Liberty
   
 
     
1,068
 
Net Assets Acquired:
               
Liberty shareholders equity
  $
30,474
     
 
 
Adjustments to reflect assets acquired at fair value:
               
Loans
               
Allowance for loan loss
   
3,257
     
 
 
Loans - interest rate
   
578
     
 
 
Loans - general credit
   
(2,161
)    
 
 
Core deposit intangible
   
3,087
     
 
 
Other
   
254
     
 
 
Adjustments to reflect liabilities acquired at fair value:
               
Time deposits
   
(141
)    
 
 
Deferred taxes
   
(906
)    
 
 
Change in control
   
(1,718
)    
 
 
Total net assets acquired
   
 
     
32,724
 
Goodwill resulting from merger
   
 
    $
10,512
 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
(In Thousands)
               
Total purchase price
   
 
    $
42,168
 
Previously held equity interest in Liberty
   
 
     
1,068
 
Assets (liabilities) acquired:
               
Net assets acquired:
               
Cash
   
26,604
     
 
 
Loans and loans held for sale
   
201,341
     
 
 
Premises and equipment, net
   
325
     
 
 
Accrued interest receivable
   
440
     
 
 
Bank-owned life insurance
   
1,681
     
 
 
Core deposit intangible
   
3,087
     
 
 
Other assets
   
997
     
 
 
Time deposits
   
(30,744
)    
 
 
Non-time deposits
   
(167,300
)    
 
 
Accrued interest payable
   
(47
)    
 
 
Deferred taxes
   
(906
)    
 
 
Other liabilities
   
(2,754
)    
 
 
Total net assets acquired
   
 
     
32,724
 
Goodwill resulting from the Liberty merger
   
 
    $
10,512
 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
2019
  $
341
 
2020
   
332
 
2021
   
321
 
2022
   
309
 
2023
   
296
 
Thereafter
   
798
 
Total   $
2,397
 
Business Acquisition, Pro Forma Information [Table Text Block]
   
Actual from Acquisition Date
Through December 31, 2017
 
   
(in thousands)
 
         
Net interest income
  $
10,354
 
Noninterest income
  $
744
 
Net income
  $
2,625
 
   
Twelve-month period ended December 31,
 
           
(Unaudited)
 
   
2018
   
2017
 
   
(in thousands, except per share data)
 
                 
Net interest income
  $
40,448
    $
37,646
 
Noninterest income
   
3,728
     
4,920
 
Net income
  $
12,431
    $
8,438
 
Pro forma earnings per share:
               
Basic
  $
3.85
    $
2.79
 
Diluted
  $
3.83
    $
2.77
 
Merger of Liberty Bank, N.A. into The Middlefield Banking Company [Member]  
Notes Tables  
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
Remaining
2019
  $
341
 
 
2020
   
332
 
 
2021
   
321
 
 
2022
   
309
 
 
2023
   
296
 
 
Thereafter
   
798
 
 
Total
  $
2,397