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Note 17: Acquisitions: Schedule of Business Acquisition -- Citizens State Bank (Tables) | 12 Months Ended
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Jun. 30, 2014
Tables/Schedules |
Schedule of Business Acquisition -- Citizens State Bank | The following table summarizes the consideration paid for Citizens State Bankshares of Bald Knob, Inc. and its subsidiary, Citizens State Bank and the amounts of assets acquired and liabilities assumed recognized at the acquisition date:
Fair Value of Consideration Transferred |
Cash | $5,708,211
Contingent consideration | -
Total consideration | $5,708,211
Recognized amounts of identifiable assets acquired |
and liabilities assumed |
Cash and Cash equivalents | $4,167,979
Investment Securities | 50,539,865
Loans | 11,984,135
Premises and equipment | 612,540
Identifiable intangible assets | 624,440
Miscellaneous other assets | 4,075,288
Deposits | (64,154,307)
Advances from FHLB | (1,499,904)
Securities sold under agreements to repurchase | -
Subordinated debt | -
Miscellaneous other liabilities | (641,825)
Liability arising from a contingency | -
Total identifiable net assets | 5,708,211
Goodwill | $-

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