Merger (Tables)

6 Months Ended

Jun. 30, 2015

Schedule of Financial Information for Former TCNB Financial Corp Included in Consolidated Statement of Income

The following table presents financial information for the former TCNB Financial Corp. included in the Consolidated Statements of Income from the date of acquisition through June 30, 2015.


	Actual From Acquisition Date Through June 30, 2015 (in thousands)
Net interest income after provision for loan losses	$	1,233
Noninterest income		71
Net income		464

The following table presents financial information for the former TCNB Financial Corp. included in the Consolidated Statements of Income for the three-month period ended June 30, 2015.


	For the Three-Month Period Ended June 30, 2015 (in thousands)
Net interest income after provision for loan losses	$	981
Noninterest income		60
Net income		416

Business Acquisition Pro Forma Information

The following table presents pro forma information for the six and three-month periods ended June30, 2015 as if the acquisition of TCNB had occurred on January 1, 2014. This table has been prepared for comparative purposes only and is not indicative of the actual results that would have been attained had the acquisition occurred as of the beginning of the periods presented, nor is it indicative of future results.


	Pro Formas
	Six months ended June 30,
	2015		2014
Net interest income after provision for loan losses	$	23,942	$	20,999
Noninterest income		8,545		8,283
Net income		5,811		5,349
Pro forma earnings per share:
Basic	$	0.64	$	0.56
Diluted	$	0.53	$	0.47


	Pro Formas
	Three months ended June 30,
	2015		2014
Net interest income after provision for loan losses	$	12,465	$	10,574
Noninterest income		3,711		3,570
Net income		3,276		2,489
Pro forma earnings per share:
Basic	$	0.37	$	0.27
Diluted	$	0.30	$	0.23

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for TCNB. Core deposit intangibles will be amortized over periods of between five and ten years using an accelerated method. Goodwill will not be amortized, but instead will be evaluated for impairment.


	At March 6, 2015
Total purchase price				$	17,226

Net assets acquired:
Cash and short-term investments		18,152
Loans, net		76,830
Other securities		716
Premises and equipment		1,739
Accrued interest receivable		194
Goodwill		5,121
Core deposit intangible		1,009
Other assets		1,265
Noninterest-bearing deposits		(18,263	)
Interest-bearing deposits		(68,606	)
Other liabilities		(5	)
					18,152

Cash acquired in acquisition				$	926