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Subsequent Events | 9 Months Ended
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Sep. 30, 2016
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Effective October 1, 2016, the Company and Sierra Vista Bank, headquartered in Folsom, California, completed a merger under which Sierra Vista Bank, with three full-service offices in Folsom and Fair Oaks (Sacramento County), and Cameron Park (El Dorado County), merged with and into Central Valley Community Bancorp’s subsidiary, Central Valley Community Bank, in a combined cash and stock transaction. Sierra Vista Bank’s assets (unaudited) as of September 30, 2016 totaled approximately $155 million. The acquired assets and liabilities will be recorded at fair value at the date of acquisition and will be reflected in the Company’s December 31, 2016 financial statements. The Company also expects to record goodwill and a core deposit intangible related to this transaction, but those amounts are not yet known as the initial fair value accounting is incomplete. The goodwill will not be deductible for tax purposes. Under the terms of the merger agreement, the Company issued 1,058,851 shares of its common stock and cash totaling approximately $9.469 million to the former shareholders of Sierra Vista Bank.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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