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Asset Purchases
 3 Months Ended
Mar. 31, 2015
Business Combinations [Abstract]  
Asset Purchases

NOTE 2 ASSET PURCHASES

The Company recognized core deposit intangible assets of $1.09 million with the purchase of the Hicksville office on July 9, 2010. These are being amortized over an estimated remaining economic useful life of the deposits of 7 years on a straight line basis.

An office was purchased on December 13, 2013 in Custar, Ohio. Core deposit intangible assets of $1.17 million were recognized and are being amortized over its remaining economic useful life of the deposits of 7 years on a straight line basis.

The amortization expense for the year ended December 31, 2014 was $480 thousand. Of the $323 thousand to be expensed in 2015, $81 thousand has been expensed for the three months ended March 31, 2015. $120 thousand was expensed for the three months ended March 31, 2014.

 

     Hicksville      Custar      Total  

2015

    $ 155       $ 168       $ 323   

2016

      155         167         322   

2017

      78         167         245   

2018

      —           167         167   

2019

      —           167         167   

Thereafter

      —           161         161   
  

 

 

     

 

 

     

 

 

  
$ 388    $ 997    $ 1,385