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Asset Purchases
 9 Months Ended
Sep. 30, 2016
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, 2015 was $323 thousand. Of the $322 thousand to be expensed in 2016, $242 thousand has been expensed for the nine months ended September 30, 2016. $242 thousand was also expensed for the nine months ended September 30, 2015.

 

     Hicksville      Custar      Total  

2016

    $ 155       $ 167       $ 322   

2017

      78         167         245   

2018

      —           167         167   

2019

      —           167         167   

2020

      —           161         161   
   $ 233       $ 829       $ 1,062