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ACQUISITIONS (Tables) | 9 Months Ended
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Sep. 30, 2022
ACQUISITIONS |
Schedule of recognized identified assets acquired and liabilities assumed | The fair value of the assets acquired and liabilities assumed from NXT on the acquisition date were as follows (dollars in thousands):
​ | ​ | ​ | ​
​ |  | Fair Value
Assets acquired: | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 5,862
Interest-bearing time deposits with banks | ​ | ​ | 739
Debt securities | ​ | ​ | 18,295
Equity securities with readily determinable fair value | ​ | ​ | 43
Restricted stock | ​ | ​ | 796
Loans | ​ | ​ | 194,576
Bank owned life insurance | ​ | ​ | 7,352
Bank premises and equipment | ​ | ​ | 3,667
Core deposit intangible assets | ​ | ​ | 199
Mortgage servicing rights | ​ | ​ | 370
Accrued interest receivable | ​ | ​ | 886
Other assets | ​ | ​ | 1,340
Total assets acquired | ​ | ​ | 234,125
​ | ​ | ​ | ​
Liabilities assumed: | ​ | ​ | ​
Deposits | ​ | ​ | 181,586
Securities sold under agreements to repurchase | ​ | ​ | 4,080
FHLB advances | ​ | ​ | 12,625
Other liabilities | ​ | ​ | 1,633
Total liabilities assumed | ​ | ​ | 199,924
Net assets acquired | ​ | $ | 34,201
​ | ​ | ​ | ​
Consideration paid: | ​ | ​ | ​
Cash | ​ | $ | 10,633
Common stock | ​ | ​ | 29,270
Total consideration paid | ​ | $ | 39,903
​ | ​ | ​ | ​
Goodwill | ​ | $ | 5,702
​ The following table presents the acquired non-impaired loans as of the acquisition date (dollars in thousands):
​ | ​ | ​ | ​
Fair Value | ​ | $ | 194,576
Gross contractual amounts receivable | ​ | ​ | 196,104
Estimate of contractual cash flows not expected to be collected | ​ | ​ | 1,045
Business acquisition, pro forma information | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Pro Forma
​ | ​ | Three Months Ended | ​ | Nine Months Ended
(dollars in thousands, except per share data) | ​ | September 30, 2021 | ​ | September 30, 2021
Total revenues (net interest income and noninterest income) | ​ | $ | 41,296 | ​ | $ | 124,460
Net income | ​ | ​ | 14,093 | ​ | ​ | 44,285
Earnings per share - basic | ​ | ​ | 0.48 | ​ | ​ | 1.52
Earnings per share - diluted | ​ | ​ | 0.48 | ​ | ​ | 1.51

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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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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