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Note 6 - Goodwill and Intangibles (Tables)
12 Months Ended
Dec. 31, 2018
Notes Tables  
Schedule of Goodwill [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

    

2018

    

2017

    

2016

Balance at the beginning of period

 

$

28,334,092

 

$

13,110,913

 

$

3,222,688

Goodwill from merger with Springfield Bancshares

 

 

45,974,931

 

 

 —

 

 

 —

Goodwill from acquisition of the Bates Companies

 

 

3,766,074

 

 

 —

 

 

 —

Goodwill from acquisition of Guaranty Bank

 

 

 —

 

 

15,223,179

 

 

 —

Goodwill from acquisition of Guaranty Bank - measurement period adjustment

 

 

(243,195)

 

 

 —

 

 

 —

Goodwill from acquisition of CSB

 

 

 —

 

 

 —

 

 

9,888,225

Balance at the end of period

 

$

77,831,902

 

$

28,334,092

 

$

13,110,913

 

Core Deposits [Member]  
Notes Tables  
Schedule of Finite-Lived Intangible Assets [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

    

2018

 

2017

 

2016

Balance at the beginning of the period

 

$

9,078,953

 

$

7,381,213

 

$

1,471,409

Core deposit intangible from merger with Springfield Bancshares

 

 

8,208,728

 

 

 —

 

 

 —

Core deposit intangible from acquisition of Guaranty Bank

 

 

 —

 

 

2,698,301

 

 

 —

Core deposit intangible from acquisition of CSB

 

 

 —

 

 

 —

 

 

6,352,653

Amortization expense

 

 

(1,692,431)

 

 

(1,000,561)

 

 

(442,849)

Balance at the end of the period

 

$

15,595,250

 

$

9,078,953

 

$

7,381,213

 

 

 

  

 

 

  

 

 

  

Gross carrying amount

 

$

19,254,809

 

$

11,046,081

 

$

8,347,780

Accumulated amortization

 

 

(3,659,559)

 

 

(1,967,128)

 

 

(966,567)

Net book value

 

$

15,595,250

 

$

9,078,953

 

$

7,381,213

 

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

 

 

 

 

Years ending December 31,

    

Amount

2019

 

$

2,129,141

2020

 

 

2,084,985

2021

 

 

2,032,204

2022

 

 

1,970,792

2023

 

 

1,776,065

Thereafter

 

 

5,602,063

 

 

$

15,595,250

 

Customer Lists [Member]  
Notes Tables  
Schedule of Finite-Lived Intangible Assets [Table Text Block]

 

 

 

 

 

    

2018

Balance at the beginning of period

 

$

 —

Customer list intangible from acquisition of Bates Companies

 

 

1,854,932

Balance at the end of period

 

 

1,854,932

 

 

 

 

 

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

 

 

 

 

Years ending December 31,

    

Amount

2019

 

$

123,662

2020

 

 

123,662

2021

 

 

123,662

2022

 

 

123,662

2023

 

 

123,662

Thereafter

 

 

1,236,622

 

 

$

1,854,932