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Business Combinations (Tables)

3 Months Ended

Mar. 31, 2020

Pro Forma Information

The pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transactions been effective on the assumed date.

	For Three Months Ended March 31,
(In thousands of dollars except per share results)	2020				2019
Net interest income	$	22,482			$	22,120
Net income	$	8,659			$	8,624
Basic and diluted earnings per share	$	0.30			$	0.31

Maple Leaf

Summary of Consideration Paid and Amounts of Assets Acquired and Liabilities Assumed

The following table summarizes the consideration paid for Maple Leaf and the amounts of the assets acquired and liabilities assumed on the closing date of the acquisition.

(In Thousands of Dollars)
Consideration
Cash	$	20,423
Stock		22,554
Fair value of total consideration transferred	$	42,977
Fair value of assets acquired
Cash and due from financial institutions	$	12,287
Securities available for sale		28,038
Loans		181,280
Premises and equipment		229
Core deposit intangible		725
Other assets		6,471
Total assets		229,030
Fair value of liabilities assumed
Deposits		183,251
Long-term borrowings		7,946
Accrued interest payable and other liabilities		4,015
Total liabilities		195,212
Net assets acquired	$	33,818
Goodwill created		9,159
Total net assets acquired	$	42,977

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 2
-Subparagraph (h)(3)
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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472

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