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Acquisition of Visalia Community Bank Acquisition of Visalia Community Bank (Tables)
 12 Months Ended
Dec. 31, 2013
Business Combinations [Abstract]  
Summary of consideration paid, assets acquired and liabilities assumed
The following table summarizes the consideration paid for Visalia Community Bank and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date (in thousands):
Merger consideration:
 
Cash
$
11,050

Common stock issued
12,727

Fair Value of Total Consideration Transferred
$
23,777

 
 
Recognized amounts of identifiable assets acquired and liabilities assumed:
 
Cash and cash equivalents
$
51,985

Loans, net
113,467

Investments
14,818

Core deposit intangible
1,365

Premises and equipment
4,263

Federal Home Loan Bank stock
698

Other real estate owned
263

Deferred taxes and taxes receivable
3,179

Bank owned life insurance
6,786

Other assets
797

Total assets acquired
197,621

Deposits
174,206

Other liabilities
5,978

Total liabilities assumed
180,184

Total identifiable net assets
17,437

Goodwill
$
6,340
Pro Forma Results of Operations

The following table presents pro forma results of operations information for the periods presented as if the acquisition had occurred on January 1, 2012 after giving effect to certain adjustments. The pro forma results of operations for the years ended December 31, 2013 and 2012 include the historical accounts of the Company and Visalia Community Bank and pro forma adjustments as may be required, including the amortization of intangibles with definite lives and the amortization or accretion of any premiums or discounts arising from fair value adjustments for assets acquired and liabilities assumed. The pro forma information is intended for informational purposes only and is not necessarily indicative of the Company’s future operating results or operating results that would have occurred had the acquisition been completed at the beginning of 2012. No assumptions have been applied to the pro forma results of operations regarding possible revenue enhancements, expense efficiencies or asset dispositions. (In thousands, except per share amounts):
 
 
For the Years Ended December 31,
 
 
2013
 
2012
Net interest income
 
$
36,773

 
36,964

Provision for credit losses
 
298

 
1,534

Non-interest income
 
8,576

 
9,394

Non-interest expense
 
36,917

 
35,531

Income before provision for income taxes
 
8,134

 
9,293

Provision for income taxes
 
783

 
1,625

Net income
 
$
7,351

 
$
7,668

Preferred stock dividends and accretion
 
350

 
350

Net income available to common shareholders
 
$
7,001

 
$
7,318

Basic earnings per common share
 
$
0.68

 
$
0.67

Diluted earnings per common share
 
$
0.68

 
$
0.68