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Subsequent Events | 9 Months Ended
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Sep. 30, 2017
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events On October 18, 2017, the board of directors declared a $0.06 per share cash dividend payable on November 17, 2017 to shareholders of record as of November 3, 2017. Effective October 1, 2017, The Company and Folsom Lake Bank, headquarter in Folsom, California completed a merger under which Folsom Lake Bank (“Folsom”), with three full-service offices in Folsom, Rancho Cordova, and Roseville merged with and into Central Valley Community Bancorp’s subsidiary, Central Valley Community Bank, in an all-stock transaction. Folsom’s assets (unaudited) as of September 30, 2017 totaled approximately $197.3 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, 2017 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 1,276,888 shares of common stock to the former shareholders of Folsom.

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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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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