XML 53 R34.htm IDEA: XBRL DOCUMENT
v3.24.1

Recent Events, Including Mergers and Acquisitions (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Recent Events, Including Mergers and Acquisitions [Abstract] |
Summary of Fair Value of Assets Acquired and Liabilities Assumed | A summary of the fair value of assets acquired and liabilities assumed from Watonga are as follows:
|  | Estimated Fair Value |
(in thousands) |  |  |
Assets Acquired |  |  |
Cash and cash equivalents |  | $ | 41,747 |
Available-for-sale debt securities |  |  | 86,166 |
Federal funds sold |  |  | 7,941 |
Loans |  |  | 117,335 |
Premises and equipment |  |  | 8,669 |
Core deposit intangible |  |  | 1,254 |
Prepaid expenses and other assets |  |  | 4,512 |
Total assets acquiried |  | $ | 267,624 |
Liabilities Assumed |  |  |  |
Deposits |  | $ | 243,487 |
Accounts payable and accrued expenses |  |  | 2,086 |
Total liabilities assumed |  | $ | 245,573 |
Net assets acquired |  | $ | 22,051 |
Consideration transferred |  |  | 29,498 |
Goodwill |  | $ | 7,447 |
Summary of Unaudited Pro Forma Information | The following table presents unaudited pro-forma information as if the acquisition of Watonga had occurred on January 1, 2020. This pro-forma information gives effect to certain adjustments, including purchase accounting fair value adjustments, amortization of core deposit and other intangibles and related income tax effects and is based on our historical results for the periods presented. Transaction-related costs related to each acquisition are not reflected in the pro-forma amounts. The pro-forma information does not necessarily reflect the results of operations that would have occurred had the Company acquired Watonga at the beginning of fiscal year 2020. Cost savings are also not reflected in the unaudited pro-forma amounts.
|  | Actual from Acquisition |  |  | Pro-Forma for Year Ended December 31, |
|  | Date through December 31, 2021 |  |  | 2021 |  |  | 2020 |
Net interest income |  | $ | 411 |  |  | $ | 60,420 |  |  | $ | 54,690 |
Non-interest income |  |  | 67 |  |  |  | 3,261 |  |  |  | 3,721 |
Net income |  |  | 124 |  |  |  | 21,935 |  |  |  | 17,433 |
Pro-forma earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  |  |  |  | $ | 2.42 |  |  | $ | 1.86 |
Diluted |  |  |  |  |  | $ | 2.41 |  |  | $ | 1.86 |

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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration