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Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Purchase Price of Assets Acquired and Liabilities Assumed | Under the acquisition method of accounting, the total purchase price is allocated to net tangible and intangible assets based on their current estimated fair values on the date of the acquisition. Based on preliminary valuations of the fair value of tangible and intangible assets acquired and liabilities assumed, which are based on estimates and assumptions that are subject to change, the purchase price for the TCF branches is detailed in the following table. Prior to the end of the one year measurement period Horizon Bank recorded an adjustment of $639,000 which increased goodwill and decreased other assets acquired in the transaction.
Assets |  |  |  | Liabilities |  |
Cash and due from banks |  | $ | 4,012 |  |  | Deposits |  |
Loans |  |  |  | Non-interest bearing |  | $ | 181,403 |
Commercial |  | 101,327 |  |  | NOW accounts |  | 303,050 |
Residential mortgage |  | 56,499 |  |  | Savings and money market |  | 262,488 |
Consumer |  | 54,212 |  |  | Certificates of deposit |  | 99,468 |
Total loans |  | 212,038 |  |  | Total deposits |  | 846,409 |
Premises and equipment, net |  | 6,901 |  |  | Interest payable |  | 16 |
Goodwill |  | 3,973 |  |  | Other liabilities |  | 1,278 |
Core deposit intangible |  | 1,630 |  |  |  |  |
Interest receivable |  | 519 |  |  |  |  |
Other assets |  | 463 |  |  |  |  |
Total assets purchased |  | $ | 229,536 |  |  | Total liabilities assumed |  | $ | 847,703 |
Net cash received |  | $ | (618,167) |  |  |  |  |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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