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Acquisition (Tables) (Summit [Member])
12 Months Ended
Dec. 31, 2014
Summit [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

LIABILITIES

Cash and due from banks

$ 15,161    Deposits
Non-interest bearing $ 27,274   

Commercial

  70,441    NOW accounts   16,332   

Residential mortgage

  43,448    Savings and money market   35,045   

Consumer

  10,192    Certificates of deposits   42,368   
  

 

 

       

 

 

 

Total loans

  124,081   

Total deposits

  121,019   

Premises and equipment, net

  2,548    Borrowings   16,990   

FRB and FHLB stock

  2,136    Interest payable   52   

Goodwill

  8,428    Other liabilities   599   

Core deposit intangible

  822   

Interest receivable

  347   

Cash value life insurance

  2,185   

Other assets

  2,877   
  

 

 

       

 

 

 

Total assets purchased

$ 158,585    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