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Recent Events, Including Mergers and Acquisitions | 3 Months Ended
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Mar. 31, 2025
Recent Events, Including Mergers and Acquisitions [Abstract] |
Recent Events, Including Mergers and Acquisitions |
Note 2: | Recent Events, Including Mergers and Acquisitions
Acquisition On October 31, 2023, the Company entered into an asset purchase and sale agreement, effective September 1, 2023, to acquire proven oil and natural gas properties from HB2 Origination, LLC, which consisted of nine wells in formations in four counties in Texas for $15.4 million in cash. On November 17, 2023, the transaction closed for a total purchase price of $15.1 million, after closing adjustments. As a part of the purchase, the Company assumed asset retirement obligations of $0.4 million that were included in “interest payable and other liabilities” on the consolidated balance sheets as of December 31, 2023. The acquisition was considered an asset acquisition and did not meet the definition of a business under ASC 805, Business Combinations. Additionally, transaction costs of $1.4 million were capitalized into oil and gas properties related to this acquisition. The purchase price and related asset retirement obligations were allocated based on the relative fair values of the assets acquired and $1.7 million was allocated to proved leasehold costs while the remaining $15.4 million was allocated to “interest receivable and other assets” on the consolidated balance sheets. The Company had oil and gas assets and related receivables included in “interest receivable and other assets” on the consolidated balance sheets of $11.0 million and $12.1 million, and assets retirement obligations and oil and gas related liabilities included in “interest payable and other liabilities” on the consolidated balance sheets of $0.7 million and $0.9 million as of March 31, 2025 and December 31, 2024, respectively. The Company had oil and gas related revenues included in “Other” noninterest income on the consolidated statements of comprehensive income of $1.2 million and $1.4 million, and oil and gas related expenses included in “Other” noninterest expense on the consolidated statements of comprehensive income of $1.1 million and $1.2 million for the three months ended March 31, 2025 and March 31, 2024, respectively.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent + Details
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