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Subsequent Events
9 Months Ended
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.