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Business Combinations (Tables) | 6 Months Ended
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Jun. 30, 2020
Business Combinations [Abstract] |
Schedule of Allocation of Purchase Price to Fair Value of Net Assets Acquired | The purchased assets and assumed liabilities were recorded at their acquisition date fair values (1) and are summarized in the table below (in thousands). ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As recorded |  | Fair value |  | As recorded
​ | ​ | by PFG | ​ | adjustments (1) | ​ | by the Company
Assets: |  | ​ |  |  | ​ |  |  | ​ |
Cash & cash equivalents | ​ | $ | 55,971 | ​ | $ | — | ​ | $ | 55,971
Investment securities available-for-sale | ​ |  | 27,054 | ​ |  | 203 | ​ |  | 27,257
Restricted investments | ​ |  | 692 | ​ |  | — | ​ |  | 692
Loans | ​ |  | 191,672 | ​ |  | (3,691) | ​ |  | 187,981
Allowance for loan losses | ​ |  | (2,832) | ​ |  | 2,832 | ​ |  | —
Premises and equipment, net | ​ |  | 15,681 | ​ |  | (2,919) | ​ |  | 12,762
Bank owned life insurance | ​ |  | 5,560 | ​ |  | — | ​ |  | 5,560
Deferred tax asset, net | ​ |  | — | ​ |  | 813 | ​ |  | 813
Intangibles | ​ |  | — | ​ |  | 1,370 | ​ |  | 1,370
Other real estate owned | ​ |  | 3,695 | ​ |  | (329) | ​ |  | 3,366
Interest Receivable | ​ |  | 1,061 | ​ |  | (280) | ​ |  | 781
Prepaids | ​ |  | 375 | ​ |  | (174) | ​ |  | 201
Goodwill | ​ |  | 231 | ​ |  | (231) | ​ |  | —
Other assets | ​ |  | 1,881 | ​ |  | — | ​ |  | 1,881
Total assets acquired | ​ | $ | 301,041 | ​ | $ | (2,406) | ​ | $ | 298,635
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 271,276 | ​ | $ | — | ​ | $ | 271,276
Time deposit premium | ​ |  | — | ​ |  | 729 | ​ |  | 729
Payables and other liabilities | ​ |  | 776 | ​ |  | — | ​ |  | 776
Total liabilities assumed | ​ |  | 272,052 | ​ |  | 729 | ​ |  | 272,781
Excess of assets assumed over liabilities assumed | ​ | $ | 28,989 | ​ |  |  | ​ |  |
Aggregate fair value adjustments | ​ |  |  | ​ | $ | (3,135) | ​ |  |
Total identifiable net assets | ​ |  |  | ​ |  |  | ​ |  | 25,854
Consideration transferred: | ​ |  |  | ​ |  |  | ​ |  |
Cash | ​ |  |  | ​ |  |  | ​ |  | 9,838
Common stock issued (1,292,578 shares) | ​ |  |  | ​ |  |  | ​ |  | 24,547
Total fair value of consideration transferred | ​ |  |  | ​ |  |  | ​ |  | 34,385
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Goodwill | ​ |  |  | ​ |  |  | ​ | $ | 8,531
(1) Fair values are preliminary and are subject to refinement for a period of one year after the closing date of an acquisition as information relative to the closing date fair value becomes available.
Loans Acquired in Acquisition | The following table presents additional information related to the purchased credit impaired loans of the acquired loan portfolio at the acquisition date (in thousands): ​
​ | ​ | ​ | ​
​ |  | March 1, 2020
Accounted for pursuant to ASC 310-30: |  | ​ |
Contractually required principal and interest | ​ | $ | 21,107
Non-accretable differences | ​ |  | 4,706
Cash flows expected to be collected | ​ |  | 16,401
Accretable yield | ​ |  | 2,515
Fair value | ​ | $ | 13,886
Business Acquisition, Pro Forma Information | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | ​ | Six Months Ended | ​
​ | ​ | June 30, |  | ​ | June 30, |
​ | ​ | Revenue |  | Net Income |  | ​ | Revenue |  | Net Income |
2020: | ​ |  | ​ | ​ |  | ​ |  | ​ |  | ​ | ​ |  | ​ |
Actual PFG results included in statement of income since acquisition date | ​ | $ | 3,655 | ​ | $ | 1,362 | ​ | ​ | $ | 4,160 | ​ | $ | 1,478 | ​
Supplemental consolidation pro-forma as if PFG had been acquired January 1, 2019 | ​ |  | 29,639 | ​ |  | 7,265 | ​ | ​ |  | 57,689 | ​ |  | 11,278 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2019: | ​ |  |  | ​ |  |  | ​ | ​ |  |  | ​ |  |  | ​
Supplemental consolidation pro-forma as if PFG had been acquired January 1, 2019 | ​ | $ | 33,289 | ​ | $ | 8,366 | ​ | ​ | $ | 60,055 | ​ | $ | 11,879 | ​

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