XML 121 R57.htm IDEA: XBRL DOCUMENT v3.20.1
Note 2 - Acquisitions and Divestitures - Acquisition (Details) - USD ($)
$ / shares in Units, $ in Thousands
Sep. 11, 2019
Dec. 31, 2019
Dec. 31, 2018
Goodwill   $ 129,565 $ 92,744
Highlands Bankshares, Inc. [Member]      
Cash and cash equivalents $ 25,879    
Securities available for sale 53,732    
Loans held for sale 263    
Loans held for investment, net of allowance and mark 427,467 $ 427,467  
Premises and equipment 14,405    
Other real estate 1,963    
Other assets 27,806    
Intangible assets 4,490    
Total assets 556,005    
Noninterest-bearing 155,714    
Interest-bearing 347,289    
Total deposits 503,003    
Long term debt 40    
Other liabilities 3,136    
Total liabilities 506,179    
Net identifiable assets acquired over (under) liabilities assumed 49,826    
Goodwill 36,821    
Net assets acquired over liabilities assumed $ 86,647    
First Community Bankshares, Inc. common (in shares) 2,792,729    
Purchase price per share of the Company's common stock (in dollars per share) $ 31.02    
Fair Value of Company common stock issued $ 86,631    
Cash paid for fractional shares 16    
Fair Value of total consideration transferred 86,647    
Highlands Bankshares, Inc. [Member] | Recorded by Acquiree [Member]      
Cash and cash equivalents 25,879    
Securities available for sale 53,732    
Loans held for sale 263    
Loans held for investment, net of allowance and mark 438,896    
Premises and equipment 16,722    
Other real estate 1,963    
Other assets 25,556    
Intangible assets    
Total assets 563,011    
Noninterest-bearing 155,714    
Interest-bearing 346,028    
Total deposits 501,742    
Long term debt 40    
Other liabilities 2,938    
Total liabilities 504,720    
Net identifiable assets acquired over (under) liabilities assumed 58,291    
Goodwill    
Net assets acquired over liabilities assumed 58,291    
Highlands Bankshares, Inc. [Member] | Fair Value Adjustments [Member]      
Cash and cash equivalents    
Securities available for sale    
Loans held for sale    
Loans held for investment, net of allowance and mark [1] (11,429)    
Premises and equipment [2] (2,317)    
Other real estate    
Other assets [3] 2,250    
Intangible assets [4] 4,490    
Total assets (7,006)    
Noninterest-bearing    
Interest-bearing [5] 1,261    
Total deposits 1,261    
Long term debt    
Other liabilities [6] 198    
Total liabilities 1,459    
Net identifiable assets acquired over (under) liabilities assumed (8,465)    
Goodwill 36,821    
Net assets acquired over liabilities assumed $ 28,356    
[1] Adjustment reflects the fair value adjustments of $(14.70) million based on the Company's evaluation of the acquired loan portfolio and excludes the allowance for loan losses ("ALLL") and deferred loan fees of $3.27 million recorded by Highlands.
[2] Adjustment reflects the fair value adjustments based on the Company's evaluation of the acquired premises and equipment.
[3] Adjustment to record the deferred tax asset related to the fair value adjustments.
[4] Adjustment reflects the recording of the core deposit intangible on the acquired deposit accounts.
[5] Adjustment reflects the fair value adjustment based on the Company's evaluation of the time deposit portfolio.
[6] Adjustment reflects the fair value adjustment for death benefits payable of $320 thousand, the fair value adjustment for lease liability of $(37) thousand and the fair value adjustment to the reserve for unfunded commitments of $(85) thousand.