Business Combination and Asset Purchase (Tables)

3 Months Ended

Mar. 31, 2020

Summary of Consideration Paid and Amounts of Assets Acquired and Liabilities Assumed Recognized

The following table summarizes the consideration paid for Bank of Geneva and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date.

Fair Value of Consideration Transferred
	(In Thousands)
Cash	$	8,465
Common Shares (1,830,000 shares)		70,437
Total	$	78,902

Recognized amounts of identifiable assets acquired and liabilities assumed

Assets
Cash and cash equivalents	$	6,376
Securities - available-for-sale		17,494
Other securities, at cost		2,347
Loans, net		257,183
Premises and equipment		2,538
Goodwill		43,266
Other assets		7,176
Total Assets Purchased	$	336,380

Liabilities
Deposits
Noninterest bearing	$	37,822
Interest bearing		168,312
Total deposits		206,134
Federal Home Loan Bank (FHLB) advances		48,196
Accrued expenses and other liabilities		3,148
Total Liabilities Assumed	$	257,478

Summary of Carrying Amount of Loans

The carrying amount of those loans is included in loans, net on the balance sheet as of December 31, 2019 and March 31, 2020. The amounts of loans at December 31, 2019 and March 31, 2020 are as follows:

	2019
	(In Thousands)
Balance - January 1, 2019
Commercial	$	4,094
Consumer RE		231
Consumer		71
Carrying amount, net of fair value adjustment of $2,118	$	2,278

Balance - December 31, 2019
Commercial	$	106
Consumer RE		-
Consumer		-
Carrying amount, net of fair value adjustment of $62	$	44

Balance - March 31, 2020
Commercial	$	-
Consumer RE		-
Consumer		-
Carrying amount, net of fair value adjustment of $0	$	-

Summary of Loans Acquired and Contractually Required Payments Receivable

Loans acquired during 2019 for which it was probable at acquisition that all contractually required payments would not be collected are as follows:

	(In Thousands)
Contractually required payments receivable at acquisition
Commercial	$	4,215
Consumer RE		261
Consumer		94
Total required payments receivable	$	4,570

Cash flows expected to be collected at acquisition	$	2,788

Basis in acquired loans at acquisition	$	4,396

Summary of Changes in Accretable Yield or Income Expected to be Collected

Changes in accretable yield, or income expected to be collected, are as follows:

	Three Months Ended March 31, 2020			Three Months Ended March 31, 2019
	(In Thousands)			(In Thousands)
Beginning Balance	$	2,021		$	2,544
Additions		1			1
Accretion		(106	)		(109	)
Reclassification from nonaccretable difference		62			-
Disposals		-			-
Ending Balance	$	1,978		$	2,436

Schedule of Annual Amortization of Core Deposit Intangible Assets

Annual amortization of core deposit intangible assets is as follows:

	(In Thousands)		(In Thousands)		(In Thousands)
	Custar		Geneva		Total
2020	$	161	$	560	$	721
2021		-		560		560
2022		-		560		560
2023		-		560		560
2024		-		560		560
2025		-		560		560
	$	161	$	3,360	$	3,521