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Mergers, Acquisitions, and Branching Activity
6 Months Ended
Jun. 30, 2011
Mergers, Acquisitions, and Branching Activity [Abstract]  
Mergers, Acquisitions, and Branching Activity
Note 2. Mergers, Acquisitions, and Branching Activity
In July 2010, GreenPoint Insurance Group, Inc. (“GreenPoint”), the Company’s wholly-owned insurance subsidiary, acquired Murphy Insurance Agency, based in Princeton, West Virginia, issuing cash consideration of approximately $190 thousand. Acquisition terms call for additional cash consideration if certain operating performance targets are met. The Company has recorded the fair value of the expected additional cash consideration as $477 thousand in long-term debt. If those targets are not met, the value of the consideration ultimately paid will decrease the liability and will be recognized as a gain in the period in which the targets are not met. Goodwill and other intangibles associated with the acquisition total approximately $667 thousand.