XML 83 R31.htm IDEA: XBRL DOCUMENT

Note 3 - Business Combination and Pending Acquisition (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

( In Thousands)
Fair value of consideration transferred:
Cash		$	9,698
Common stock issued			32,953
Total consideration transferred		$	42,651

(I n Thousands)
Cash and cash equivalents		$	7,920
Available-for-sale debt securities			94,568
Loans receivable			259,295
Accrued interest receivable			1,593
Bank premises and equipment			1,465
Foreclosed assets held for sale			1,064
Deferred tax asset, net			771
Core deposit intangible			1,461
Goodwill			16,446
Other assets			7,001
Deposits			(223,303	)
Short-term borrowings			(111,568	)
Subordinated debt			(12,375	)
Accrued interest and other liabilities			(1,687	)
Estimated excess fair value of assets acquired over liabilities assumed		$	42,651

Business Acquisition, Loans Acquired [Table Text Block]

(In Thousands)
		Performing				PCI				Total
Residential mortgage:
Residential mortgage loans - first liens		$	107,645			$	77			$	107,722
Residential mortgage loans - junior liens			2,433				0				2,433
Home equity lines of credit			2,674				0				2,674
1-4 Family residential construction			510				0				510
Total residential mortgage			113,262				77				113,339
Commercial:
Commercial loans secured by real estate			113,821				364				114,185
Commercial and industrial			7,571				0				7,571
Commercial construction and land			4,617				0				4,617
Loans secured by farmland			267				0				267
Multi-family (5 or more) residential			17,493				0				17,493
Other commercial loans			835				0				835
Total commercial			144,604				364				144,968
Consumer			988				0				988
Total		$	258,854			$	441			$	259,295

Business Acquisition, Fair Value Adjustments on Loans Acquired [Table Text Block]

(In Thousands)
Gross amortized cost at acquisition		$	263,334
Market rate adjustment			(1,807	)
Credit fair value adjustment on non-credit impaired loans (accretable)			(1,914	)
Credit fair value adjustment on impaired loans (non-accretable)			(318	)
Estimated fair value of acquired loans		$	259,295

Business Acquisition, Pro Forma Information [Table Text Block]

(In Thousands Except Per Share Data)		Year Ended
		Dec. 31,				Dec. 31,
		2019				2018
Interest income		$	68,817			$	66,528
Interest expense			11,517				10,516
Net interest income			57,300				56,012
Provision for loan losses			894				1,059
Net interest income after provision for loan losses			56,406				54,953
Noninterest income			19,300				18,712
Net gains on securities			23				2,763
Other noninterest expenses			47,178				46,586
Income before income tax provision			28,551				29,842
Income tax provision			4,954				4,812
Net income		$	23,597			$	25,030

Earnings per common share - basic		$	1.65			$	1.84
Earnings per common share - diluted		$	1.64			$	1.84