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Acquisition (Tables) (SCB Bancorp [Member])

9 Months Ended

Sep. 30, 2014

SCB Bancorp [Member]

Schedule of Preliminary Purchase Price of Assets Acquired and Liabilities Assumed

the preliminary purchase price for the Summit acquisition is allocated as follows:

ASSETS
Cash and due from banks		$	15,161
Commercial			70,441
Residential mortgage			43,448
Consumer			10,192
Total loans			124,081
Premises and equipment, net			2,548
FRB and FHLB stock			2,136
Goodwill			8,286
Core deposit intangible			822
Interest receivable			347
Cash value life insurance			2,185
Other assets			3,019
Total assets purchased		$	158,585
Common shares issued		$	12,689
Cash paid			6,207
Retirement of Holding Company Debt			1,029
Total estimated purchase price		$	19,925
LIABILITIES
Deposits
Non-interest bearing		$	27,274
NOW accounts			16,332
Savings and money market			35,045
Certificates of deposits			42,368
Total deposits			121,019
Borrowings			16,990
Interest payable			52
Other liabilities			599
Total liabilities assumed		$	138,660

Schedule of Acquired Loans Accounted for in Accordance with ASC 310-30

The following table details the acquired loans that are accounted for in accordance with ASC 310-30 as of April 3, 2014.

Contractually required principal and interest at acquisition		$	14,460
Contractual cash flows not expected to be collected (nonaccretable differences)			3,146
Expected cash flows at acquisition			11,314
Interest component of expected cash flows (accretable discount)			1,688
Fair value of acquired loans accounted for under ASC 310-30		$	9,626

X

- Definition

Tabular disclosure of the reconciliation of contractual cash flows to the carrying amount relating to certain loans acquired in a transfer.

+ References

No definition available.

+ Details

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X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4845-128472

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