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Business Combination and Asset Purchase (Tables) | 6 Months Ended
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Jun. 30, 2024
Business Acquisition [Line Items] |
Schedule of Annual Amortization of Core Deposit Intangible Assets | Annual amortization of core deposit intangible assets is as follows:
|  | (In Thousands) |
|  | Geneva |  |  | Ossian |  |  | Perpetual |  |  | Peoples |  |  | Total |
2024 |  | $ | 560 |  |  | $ | 140 |  |  | $ | 95 |  |  | $ | 861 |  |  | $ | 1,656 |
2025 |  |  | 560 |  |  |  | 140 |  |  |  | 95 |  |  |  | 861 |  |  |  | 1,656 |
2026 |  |  | - |  |  |  | 140 |  |  |  | 95 |  |  |  | 861 |  |  |  | 1,096 |
2027 |  |  | - |  |  |  | 140 |  |  |  | 95 |  |  |  | 861 |  |  |  | 1,096 |
2028 |  |  | - |  |  |  | 47 |  |  |  | 73 |  |  |  | 861 |  |  |  | 981 |
Thereafter |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 646 |  |  |  | 646 |
|  | $ | 1,120 |  |  | $ | 607 |  |  | $ | 453 |  |  | $ | 4,951 |  |  |  | 7,131 |
Customer Lists [Member] |
Business Acquisition [Line Items] |
Schedule of Annual Amortization of Core Deposit Intangible Assets | Annual amortization expense of customer list intangible is as follows:
|  | (In Thousands) |
|  | Adams County Financial Resources |
2024 |  | $ | 123 |
2025 |  |  | 123 |
2026 |  |  | 123 |
2027 |  |  | 48 |
2028 |  |  | - |
Thereafter |  |  | - |
|  | $ | 417 |
Peoples Federal Savings and Loan [Member] |
Business Acquisition [Line Items] |
Summary of Consideration Paid and Amounts of Assets Acquired and Liabilities Assumed Recognized | The following table summarizes the consideration paid for Peoples Federal Savings and Loan Association and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date.
Fair Value of Consideration Transferred |  |  |
|  | (In Thousands) |
Cash |  | $ | 9,806 |
Common Shares |  |  | 13,446 |
Treasury stock repurchased (125 shares) |  |  | (3 | )
Total |  | $ | 23,249 |
Recognized amounts of identifiable assets acquired and liabilities assumed |  |  |
Assets |  |  |
Cash and cash equivalents |  | $ | 18,881 |
Other securities, at cost |  |  | 1,271 |
Loans, net |  |  | 101,755 |
Premises and equipment |  |  | 1,906 |
Goodwill |  |  | 5,924 |
Other assets |  |  | 12,081 |
Total Assets Purchased |  | $ | 141,818 |
Liabilities |  |  |
Deposits |  |  |
Noninterest bearing |  | $ | 7,139 |
Interest bearing |  |  | 104,719 |
Total deposits |  |  | 111,858 |
Federal Home Loan Bank (FHLB) advances |  |  | 896 |
Accrued expenses and other liabilities |  |  | 5,815 |
Total Liabilities Assumed |  | $ | 118,569 |
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:
|  | (In Thousands) |  |  | (In Thousands) |
|  | Three Months Ended June 30, 2024 |  |  | Three Months Ended June 30, 2023 |  |  | Six Months Ended June 30, 2024 |  |  | Six Months Ended June 30, 2023 |
Beginning Balance |  | $ | 508 |  |  | $ | 741 |  |  | $ | 566 |  |  | $ | 798 |
Additions |  |  | - |  |  |  | 3 |  |  |  | - |  |  |  | 4 |
Accretion |  |  | (58 | ) |  |  | (58 | ) |  |  | (116 | ) |  |  | (116 | )
Reclassification from nonaccretable difference |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Disposals |  |  | - |  |  |  | (6 | ) |  |  | - |  |  |  | (6 | )
Ending Balance |  | $ | 450 |  |  | $ | 680 |  |  | $ | 450 |  |  | $ | 680 |
Perpetual Federal Savings Bank [Member] |
Business Acquisition [Line Items] |
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:
|  | (In Thousands) |  |  | (In Thousands) |
|  | Three Months Ended June 30, 2024 |  |  | Three Months Ended June 30, 2023 |  |  | Six Months Ended June 30, 2024 |  |  | Six Months Ended June 30, 2023 |
Beginning Balance |  | $ | 2,460 |  |  | $ | 3,906 |  |  | $ | 2,795 |  |  | $ | 4,236 |
Additions |  |  | - |  |  |  | 11 |  |  |  | - |  |  |  | 25 |
Accretion |  |  | (336 | ) |  |  | (345 | ) |  |  | (671 | ) |  |  | (689 | )
Reclassification from nonaccretable difference |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Disposals |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Ending Balance |  | $ | 2,124 |  |  | $ | 3,572 |  |  | $ | 2,124 |  |  | $ | 3,572 |
Ossian Financial Services, Inc. [Member] |
Business Acquisition [Line Items] |
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:
|  | (In Thousands) |  |  | (In Thousands) |
|  | Three Months Ended June 30, 2024 |  |  | Three Months Ended June 30, 2023 |  |  | Six Months Ended June 30, 2024 |  |  | Six Months Ended June 30, 2023 |
Beginning Balance |  | $ | 250 |  |  | $ | 426 |  |  | $ | 294 |  |  | $ | 470 |
Additions |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Accretion |  |  | (44 | ) |  |  | (44 | ) |  |  | (88 | ) |  |  | (88 | )
Reclassification from nonaccretable difference |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Disposals |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Ending Balance |  | $ | 206 |  |  | $ | 382 |  |  | $ | 206 |  |  | $ | 382 |
Limberlost Bancshares Inc [Member] |
Business Acquisition [Line Items] |
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:
|  | (In Thousands) |  |  | (In Thousands) |
|  | Three Months Ended June 30, 2024 |  |  | Three Months Ended June 30, 2023 |  |  | Six Months Ended June 30, 2024 |  |  | Six Months Ended June 30, 2023 |
Beginning Balance |  | $ | 254 |  |  | $ | 681 |  |  | $ | 363 |  |  | $ | 785 |
Additions |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | 5 |
Accretion |  |  | (109 | ) |  |  | (108 | ) |  |  | (218 | ) |  |  | (215 | )
Reclassification from nonaccretable difference |  |  | 1 |  |  |  | - |  |  |  | 1 |  |  |  | - |
Disposals |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Ending Balance |  | $ | 146 |  |  | $ | 575 |  |  | $ | 146 |  |  | $ | 575 |

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