XML 21 R10.htm IDEA: XBRL DOCUMENT
v3.10.0.1

PENDING ACQUISITION | 6 Months Ended
--- | ---
Jun. 30, 2018
Business Combinations [Abstract] |
PENDING ACQUISITION | PENDING ACQUISITION On May 31, 2018, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Mercersburg Financial Corporation, a Pennsylvania corporation (“Mercersburg”) and the holding company for First Community Bank of Mercersburg, based in Mercersburg, Pennsylvania. At June 30, 2018, Mercersburg had approximately $183,000,000 in assets and 810,080 common shares outstanding. The Merger Agreement provides that, subject to the terms and conditions thereof, Mercersburg will merge with and into the Company, with the Company as the surviving corporation. The merger is expected to close during the fourth quarter of 2018, subject to receipt of regulatory approvals, the approval of Mercersburg’s shareholders, and the satisfaction of other customary closing conditions. Pursuant to the Merger Agreement, for each share of Mercersburg common stock, the Company will issue $40.00 in cash, without interest, or 1.5291 shares of the Company’s common stock, no par value per share, subject to proration to ensure that in the aggregate 85% of Mercersburg common stock will be converted to Company common stock and the remaining 15% of Mercersburg common stock will be converted to cash, subject to adjustment pursuant to the terms of the Merger Agreement.

X
- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
Name: | us-gaap_BusinessCombinationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration