Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Assets Acquired and Liabilities Assumed

The following table summarizes the consideration paid for FLB and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date (in thousands):



Merger consideration:
Common stock issued	$	28,475
Fair Value of Total Consideration Transferred	$	28,475

Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	$	26,279
Loans, net	117,815
Investments	41,280
Core deposit intangible	1,879
Premises and equipment	561
Federal Home Loan Bank stock	1,559
Deferred taxes and taxes receivable	2,186
Bank owned life insurance	3,997
Other assets	592
Total assets acquired	196,148
Deposits	171,948
Deposit premium	132
Short-term borrowings - Federal Home Loan Bank	7,000
Other liabilities	2,059
Total liabilities assumed	181,139
Total identifiable net assets	15,009
Goodwill	$	13,466

Pro Forma Results of Operations

The following table presents pro forma results of operations information for the periods presented as if the acquisitions had occurred on January 1, 2017 after giving effect to certain adjustments. The unaudited pro forma results of operations for the year ended December 31, 2017 include the historical accounts of the Company, Folsom Lake 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 acquisitions been completed at the beginning of each respective year. 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 Year Ended December 31,
	2017
Net interest income	$	61,059
Provision for (reversal of) credit losses	(1,150		)
Non-interest income	11,240
Non-interest expense	51,415
Income before provision for income taxes	22,034
Provision for income taxes	9,168
Net income	$	12,866
Net income available to common shareholders	$	12,866
Basic earnings per common share	$	1.03
Diluted earnings per common share	$	1.01