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Business Combination & Asset Purchase (Tables)

12 Months Ended

Dec. 31, 2024

Business Acquisition [Line Items]

Schedule of Pro-forma Results

The following table presents supplemental unaudited pro-forma information for the year ended December 31, 2022 as if the acquisition occurred on January 1, 2022. The pro-forma is not necessarily indicative of the results that would have occurred had the acquisition been consummated as of this date, nor is it intended to be a projection of future results.

		2022
Summary of Operations
Net Interest Income - Before Provision for Credit Losses     and Unfunded*		$	90,754
Provision for Credit Losses and Unfunded*			4,513
Net Interest Income After Provision for Credit Losses     and Unfunded*			86,241
Noninterest Income			14,100
Noninterest Expense			58,105
Income Before Income Taxes			42,236
Income Taxes			8,141
Net Income		$	34,095
Basic and Diluted Earnings Per Share		$	2.51

Schedule of Future Amortization of Core Deposit Intangible Assets

Future amortization expense of core deposit intangible assets is as follows:

		Geneva			Ossian			Perpetual			Peoples			Total
		(In Thousands)
2025		$	560		$	140		$	95		$	861		$	1,656
2026			-			140			95			861			1,096
2027			-			140			95			861			1,096
2028			-			47			73			861			981
2029			-			-			-			646			646
Total		$	560		$	467		$	358		$	4,090		$	5,475

Customer Lists [Member]

Business Acquisition [Line Items]

Schedule of Future Amortization of Core Deposit Intangible Assets

Future amortization expense of customer list intangible is as follows:

		(In Thousands)
2025		$	123
2026			123
2027			48
Total		$	294

Peoples Federal Savings and Loan [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:

		2024				2023
		(In Thousands)				(In Thousands)
Beginning Balance		$	566			$	798
Additions			-				6
Accretion			(231	)			(232	)
Reclassification from nonaccretable difference			-				-
Disposals			-				(6	)
Ending Balance		$	335			$	566

Perpetual Federal Savings Bank [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 Bank 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 (500,426 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:

		2024				2023
		(In Thousands)				(In Thousands)
Beginning Balance		$	2,795			$	4,236
Additions			-				39
Accretion			(1,342	)			(1,480	)
Reclassification from nonaccretable difference			-				-
Disposals			-				-
Ending Balance		$	1,453			$	2,795

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:

		2024				2023
		(In Thousands)				(In Thousands)
Beginning Balance		$	294			$	470
Additions			-				-
Accretion			(175	)			(176	)
Reclassification from nonaccretable difference			-				-
Disposals			(12	)			-
Ending Balance		$	107			$	294

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, for the acquisition of Bank of Geneva completed in 2019, are as follows:

		2024			2023
		(In Thousands)			(In Thousands)
Beginning Balance		$	363		$	785
Additions			1			11
Accretion			(364	)		(433	)
Reclassification from nonaccretable difference			-			-
Disposals			-			-
Ending Balance		$	-		$	363

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