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Business Combinations (Tables)
3 Months Ended
Mar. 31, 2020
Business Combinations [Abstract]  
Schedule of Consideration Paid and Recognized Amounts of Assets Acquired and Liabilities Assumed The following table summarizes the fair value of the total consideration transferred as a part of the Citizens First acquisition as well as the fair value of identifiable assets acquired and liabilities assumed as of the effective date of the transaction.
Consideration
 
 

Cash for Options and Fractional Shares
 
$
216

Cash Consideration
 
15,294

Equity Instruments
 
50,118

 
 
 

Fair Value of Total Consideration Transferred
 
$
65,628

 
 
 
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed:
 
 
     Cash
 
$
21,055

     Interest-bearing Time Deposits with Banks
 
2,231

     Securities
 
43,839

     Loans
 
356,970

     Stock in FHLB of Indianapolis and Other Restricted Stock, at Cost
 
2,065

     Premises, Furniture & Equipment
 
10,772

     Other Real Estate
 

     Intangible Assets
 
4,547

     Company Owned Life Insurance
 
8,796

     Accrued Interest Receivable and Other Assets
 
3,863

     Deposits - Non-interest Bearing
 
(52,521
)
     Deposits - Interest Bearing
 
(318,966
)
     FHLB Advances and Other Borrowings
 
(31,068
)
     Accrued Interest Payable and Other Liabilities
 
(3,044
)
 
 
 
     Total Identifiable Net Assets
 
$
48,539

 
 
 
Goodwill
 
$
17,089



Schedule of Unaudited Pro Forma Information
The following table presents unaudited pro forma information as if the acquisition had occured on January 1, 2019 after giving effect to certain adjustments. The unaudited pro forma information for the three months ended March 31, 2020 and 2019 includes adjustments for interest income on loans and securities acquired, amortization of intangibles arising from the transaction, interest expense on deposits and borrowings acquired, and the related income tax effects. The unaudited pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transaction been effected on the assumed date.
 
 
Unaudited Pro Forma Three Months Ended 3/31/2020
 
Unaudited Pro Forma Three Months Ended 3/31/2019
Net Interest Income
 
$
36,256

 
$
38,139

Non-interest Income
 
14,081

 
12,503

    Total Revenue
 
50,337

 
50,642

Provision for Loan Losses Expense
 
5,150

 
675

Non-interest Expense
 
30,265

 
30,423

    Income Before Income Taxes
 
14,922

 
19,544

Income Tax Expense
 
2,403

 
3,045

    Net Income
 
$
12,519

 
$
16,499

Earnings Per Share and Diluted Earnings Per Share
 
$
0.47

 
$
0.62