XML 31 R15.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Note 7 - Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2016
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] | Note 7 – Intangible Assets Intangible assets are included in the Consolidated Balance Sheets as a separate line item, net of accumulated amortization and consist of the following items:
|  | Gross |  |  |  |  |  |  |  |  |  |  | Net |
|  | Intangible |  |  |  |  |  |  | Accumulated |  |  | Intangible |
(dollars in thousands) |  | Assets |  |  | Additions |  |  | Amortization |  |  | Assets |
December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill (1) |  | $ | 104,168 |  |  | $ | - |  |  | $ | - |  |  | $ | 104,168 |
Core deposit (2) |  |  | 7,070 |  |  |  | - |  |  |  | (4,291 | ) |  |  | 2,779 |
Excess servicing (3) |  |  | 387 |  |  |  | 602 |  |  |  | (517 | ) |  |  | 472 |
|  | $ | 111,625 |  |  | $ | 602 |  |  | $ | (4,808 | ) |  | $ | 107,419 |
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill (1) |  | $ | 104,425 |  |  | $ | (257 | ) |  | $ | - |  |  | $ | 104,168 |
Core deposit (2) |  |  | 7,070 |  |  |  | - |  |  |  | (3,084 | ) |  |  | 3,986 |
Excess servicing (3) |  |  | 282 |  |  |  | 379 |  |  |  | (273 | ) |  |  | 388 |
|  | $ | 111,777 |  |  | $ | 122 |  |  | $ | (3,357 | ) |  | $ | 108,542 |
The aggregate amortization expense was $1.7 million, $1.5 million, and $743 thousand for the years ended December 31, 2016, 2015 and 2014, respectively.
| (1) | The Company recorded an initial amount of unidentified intangible (goodwill) incident to the acquisition of Fidelity of approximately $360 thousand. Based on allowable adjustments through August 31, 2009, the unidentified intangible (goodwill) amounted to approximately $2.2 million. The Company recorded an initial amount of unidentified intangible (goodwill) incident to the acquisition of Virginia Heritage of approximately $102.3 million. Based on allowable adjustments through October 31, 2015, the unidentified intangible (goodwill) was reduced by $257 thousand.
| (2) | In connection with the Fidelity and Virginia Heritage acquisitions, the Company made an allocation of the purchase price of $2.3 million and $4.6 million, respectively, to the core deposit intangibles. These allocations were based on independent evaluations, and are included in intangible assets, net of accumulated amortization on the Consolidated Balances Sheets. The amount of the core deposit intangible relating to the Fidelity acquisition at December 31, 2016 was $209 thousand, which is being amortized over its remaining economic life through 2018 as a component of other noninterest expense. The amount of the core deposit intangible relating to the Virginia Heritage acquisition at December 31, 2016 was $2.6 million, which is being amortized over its remaining economic life through the year 2020 as a component of other noninterest expense. Amortization expense for core deposit intangibles totaled $1.2 million for both the years ended December 31, 2016 and 2015. The unamortized assets at December 31, 2016 and 2015 were $2.8 million and $4.0 million, respectively.
| (3) | The Company recognizes a servicing asset for the computed value of servicing fees on the sale of the guaranteed portion of SBA loans, which is in excess of a normal servicing fee. Assumptions related to the loan term and amortization period are made to arrive at the initial recorded value.
The future estimated annual amortization expense is presented below:
Years ending December 31: |  |  |  |
(dollars in thousands) |  |  |  |
2017 |  | $ | 1,064 |
2018 |  |  | 957 |
2019 |  |  | 715 |
2020 |  |  | 43 |
Total |  | $ | 2,779 |

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

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration