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Business Combination (Tables)
12 Months Ended
Dec. 31, 2024
Business Combination  
Schedule of purchased assets and assumed liabilities

The following table presents a summary of the fair values of assets acquired and liabilities assumed as of the acquisition date:

(dollars in thousands)

    

December 13, 2024

Assets

Cash and Cash Equivalents

$

50,380

Bank-Owned Certificates of Deposits

4,375

Securities Available for Sale

89,345

Loans, Net of PCD Allowance

119,308

FHLB Stock

252

Premises and Equipment

3,674

Accrued Interest

847

Core Deposit Intangible

7,740

Bank-Owned Life Insurance

6,065

Other Assets

243

Total Assets Acquired

$

282,229

Liabilities

Deposits

$

257,569

Accrued Interest Payable

865

Other Liabilities

55

Total Liabilities Assumed

258,489

Net Assets Acquired

$

23,740

Consideration Paid

Cash Paid

33,096

Total Consideration Paid

33,096

Goodwill

$

9,356

Summary of PCD loans at acquisition

The following table presents a summary of PCD loans at acquisition:

(dollars in thousands)

    

December 13, 2024

Purchase Price of PCD Loans at Acquisition

$

2,987

Allowance for Credit Losses on PCD Loans at Acquisition

114

Non-credit Discount at Acquisition

75

Par Value of PCD Loans at Acquisition

$

3,176