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BUSINESS COMBINATIONS (Tables)
6 Months Ended
Jun. 30, 2012
BUSINESS COMBINATIONS  
Summary of the fair value of assets acquired and liabilities assumed

 

 

 

 

 

 

Measurement

 

 

 

 

 

As Initially

 

Period

 

 

 

(In thousands)

 

Reported

 

Adjustments

 

As Adjusted

 

Cash and due from banks

 

$

585

 

$

 

$

585

 

Interest earning deposits with banks

 

1,727

 

 

1,727

 

Securities

 

24,159

 

 

24,159

 

Loans

 

39,051

 

(137

)

38,914

 

Premises and equipment

 

300

 

 

300

 

Core deposit intangible

 

358

 

 

358

 

Other assets

 

2,781

 

54

 

2,835

 

Total Assets Acquired

 

$

68,961

 

$

(83

)

$

68,878

 

 

 

 

 

 

 

 

 

Deposits

 

$

56,940

 

$

 

$

56,940

 

Federal funds purchased and Federal Home Loan Bank overnight borrowings

 

2,000

 

 

2,000

 

Federal Home Loan Bank term advances

 

5,016

 

 

5,016

 

Other liabilities and accrued expenses

 

1,103

 

 

1,103

 

Total Liabilities Assumed

 

$

65,059

 

$

 

$

65,059

 

 

 

 

 

 

 

 

 

Net Assets Acquired

 

3,902

 

(83

)

3,819

 

Consideration Paid

 

5,853

 

 

5,853

 

Goodwill Recorded on Acquisition

 

$

1,951

 

$

83

 

$

2,034