Business Combinations (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Planning Services, Inc

Business Combinations

Schedule of recognized identified assets acquired and liabilities assumed

	As recorded by		Fair Value		As recorded by
(dollars in thousands)	RPS		Adjustments		the Company
Assets
Cash and cash equivalents	$	513	$	—	$	513
Land premises and equipment, net		16		(16)		—
Other intangible assets		99		11,390		11,489
Other assets		304		(38)		266
Total assets		932		11,336		12,268
Liabilities
Other liabilities		1,418		3,930		5,348
Total liabilities		1,418		3,930		5,348
Excess assets over liabilities	$	(486)	$	7,406		6,920
Cash paid for RPS						9,792
Total goodwill recorded					$	2,872

MPB

Business Combinations

Schedule of recognized identified assets acquired and liabilities assumed

	As recorded by		Preliminary Fair Value		As recorded by
(dollars in thousands)	Metro Phoenix Bank		Adjustments		the Company
Assets
Cash and cash equivalents	$	101,819	$	(123)	$	101,696
Fed funds sold		18,936		—		18,936
Core deposit intangible		—		7,592		7,592
Loans		273,843		(3,440)		270,403
Accrued interest receivable		1,091		—		1,091
Other assets		3,342		188		3,530
Total assets		399,031		4,217		403,248
Liabilities
Deposits		354,529		(844)		353,685
Other liabilities		673		—		673
Total liabilities		355,202		(844)		354,358
Excess assets over liabilities	$	43,829	$	5,061		48,890
Stock issued for MPB						64,019
Total goodwill recorded					$	15,129