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Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the date of acquisition for Victory (in thousands):
| At July 1, 2020
| Fair Value
Total Purchase Price | $ | 41,173 |
Assets acquired: |
Cash and cash equivalents | $ | 72,875 |
Debt securities available-for-sale | 126,931 |
Loans | 180,431 |
Accrued interest receivable | 1,415 |
Bank-owned life insurance | 5,714 |
Premises and equipment | 7,789 |
Other assets | 5,010 |
Total assets acquired | 400,165 |
Liabilities assumed: |
Deposits | 354,592 |
Other liabilities | 7,001 |
Total liabilities assumed | 361,593 |
Net assets acquired | $ | 38,572 |
Goodwill recorded in the merger | $ | 2,601 |
Schedule of Credit Impaired Loans Acquired in Acquisition | The following is a summary of the credit impaired loans acquired in the Victory acquisition as of the closing date (in thousands):
| July 1, 2020
Contractually required principal and interest | $ | 7,809 |
Contractual cash flows not expected to be collected (non-accretable discount) | 3,315 |
Expected cash flows to be collected at acquisition | 4,494 |
Interest component of expected cash flows (accretable yield) | (599) |
Fair value of acquired loans | $ | 3,895 |

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- Definition Tabular disclosure of the reconciliation of contractual cash flows to the carrying amount relating to certain loans acquired in a transfer. + References No definition available. + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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