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Note 20 - Subsequent Event
9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Subsequent Events [Text Block]

Subsequent event:

 

On October 22, 2025, the Company announced the signing of a definitive merger agreement (the "Merger Agreement") with Middlefield Banc Corp. ("Middlefield"), the holding company for The Middlefield Banking Company ("Middlefield Bank"), where Middlefield will merge with and into the Company in an all-stock transaction ("the Merger").  

 

Pursuant to the Merger Agreement, each share of Middlefield common stock outstanding immediately prior to completion of the merger will be converted into the right to receive 2.6 shares of the Company's common stock.  Based on the Company's closing share price of $13.91 on October 20, 2025, the proposed transaction is valued at approximately $299.0 million, or $36.17 per Middlefield common share.  The merger is expected to qualify as a tax-free reorganization.  The transaction is subject to receipt of Middlefield and the Company's shareholder approvals and customary regulatory approvals.  The transaction is expected to close in the first quarter of 2026.