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Business Combinations (Tables) | 3 Months Ended
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Mar. 31, 2025
Business Combinations [Abstract] |
Summary of Allocation of Purchase Price | The table below presents the allocation of purchase price for the Merger with Fentura (dollars in thousands):
Purchase Price |  |
Consideration | $ | 192,992 |
Net assets acquired: |  |
Cash and cash equivalents |  | 173,082 |
Securities available for sale |  | 90,696 |
Federal Home Loan Bank and Federal Reserve Bank stock |  | 9,179 |
Originated loans |  | 1,376,721 |
Premises and equipment |  | 16,664 |
Other real estate owned |  | 1,735 |
Intangible assets |  | 34,737 |
Other assets |  | 48,815 |
Total assets |  | 1,751,629 |
Non-interest bearing deposits |  | 404,497 |
Interest bearing deposits |  | 1,027,384 |
Total deposits |  | 1,431,881 |
Borrowing |  | 169,786 |
Subordinated debentures |  | 12,344 |
Other liabilities |  | 11,410 |
Total liabilities |  | 1,625,421 |
Net assets acquired |  | 126,208 |
Goodwill | $ | 66,784 |
Summary of Pro Forma Information |
| Three Months Ended |
| March 31, |
(Dollars in thousands) | 2025 |  | 2024 |
Net interest income plus other income | $ | 42,566 |  | $ | 37,506 |
Net income (loss) | $ | 10,494 |  | $ | (14,143 | )

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