XML 88 R74.htm IDEA: XBRL DOCUMENT v3.3.1.900
ACQUISITION OF FNB (Details)
$ / shares in Units, shares in Thousands
 1 Months Ended 3 Months Ended 12 Months Ended
Dec. 11, 2015
USD ($)
$ / shares
shares
Dec. 31, 2015
USD ($)
Dec. 31, 2015
USD ($)
Sep. 30, 2015
USD ($)
Jun. 30, 2015
USD ($)
Branches
$ / shares
Mar. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Sep. 30, 2014
USD ($)
Jun. 30, 2014
USD ($)
Mar. 31, 2014
USD ($)
Dec. 31, 2015
USD ($)
$ / shares
Dec. 31, 2014
USD ($)
$ / shares
Dec. 31, 2013
USD ($)
Adjustments to reflect liabilities acquired at fair value: [Abstract]                          
Goodwill resulting from merger   $ 21,089,000 $ 21,089,000       $ 10,256,000       $ 21,089,000 $ 10,256,000  
Finite-Lived Intangible Assets, Gross [1]   3,102,000 3,102,000       1,023,000       3,102,000 1,023,000  
Finite-Lived Intangible Assets, Accumulated Amortization [1]   (665,000) (665,000)       (550,000)       (665,000) (550,000)  
Merger and acquisition                     1,103,000 237,000 $ 55,000
Assets (liabilities) acquired [Abstract]                          
Goodwill resulting from the FNB merger   21,089,000 21,089,000       10,256,000       21,089,000 10,256,000  
Estimated future amortization expense core deposit intangible and MSR [Abstract]                          
2016   500,000 500,000               500,000    
2017   439,000 439,000               439,000    
2018   380,000 380,000               380,000    
2019   324,000 324,000               324,000    
2020   243,000 243,000               243,000    
Total [1]   2,437,000 2,437,000       473,000       2,437,000 473,000  
Integration costs and amortization of fair value                          
Net interest income     8,040,000 $ 7,645,000 $ 7,561,000 $ 7,587,000 7,602,000 $ 7,574,000 $ 7,650,000 $ 7,512,000 30,833,000 30,338,000 29,919,000
Non-interest income     1,876,000 1,736,000 1,780,000 1,602,000 1,762,000 1,682,000 1,680,000 1,616,000 7,423,000 7,356,000 7,423,000
Net income     2,460,000 $ 2,857,000 $ 3,189,000 $ 3,120,000 3,476,000 $ 3,368,000 $ 3,365,000 $ 3,176,000 11,626,000 13,385,000 $ 13,375,000
Core Deposits [Member]                          
Adjustments to reflect liabilities acquired at fair value: [Abstract]                          
Finite-Lived Intangible Assets, Gross [1]   1,641,000 1,641,000       0       1,641,000 0  
Finite-Lived Intangible Assets, Accumulated Amortization [1]   (25,000) (25,000)       0       (25,000) 0  
Estimated future amortization expense core deposit intangible and MSR [Abstract]                          
2016   296,000 296,000               296,000    
2017   266,000 266,000               266,000    
2018   236,000 236,000               236,000    
2019   206,000 206,000               206,000    
2020   177,000 177,000               177,000    
Total [1]   1,616,000 1,616,000       0       1,616,000 0  
Covenant not to Compete [Member]                          
Adjustments to reflect liabilities acquired at fair value: [Abstract]                          
Finite-Lived Intangible Assets, Gross [1]   125,000 125,000       0       125,000 0  
Finite-Lived Intangible Assets, Accumulated Amortization [1]   (2,000) (2,000)       0       (2,000) 0  
Estimated future amortization expense core deposit intangible and MSR [Abstract]                          
2016   31,000 31,000               31,000    
2017   31,000 31,000               31,000    
2018   31,000 31,000               31,000    
2019   30,000 30,000               30,000    
2020   0 0               0    
Total [1]   123,000 123,000       $ 0       123,000 0  
First National Bank of Fredericksburg [Member]                          
Summarizes the purchase of FNB [Abstract]                          
Merger agreement per share in cash and stock (in dollars per share) | $ / shares         $ 630                
Ownership percentage         100.00%                
Business acquisition credit impaired loans purchased $ 3,809,000                        
Purchase Price Consideration - Cash for Common Stock [Abstract]                          
Purchase price assigned to The First National Bank of Fredericksburg common shares exchanged for cash 5,619,000                        
Total Purchase Price 21,603,000                        
Net Assets Acquired [Abstract]                          
The First National Bank of Fredericksburg shareholders' equity 12,298,000                        
Loans [Abstract]                          
Interest rate 31,000                        
General credit (1,362,000)                        
Specific credit - non-amortizing (2,495,000)                        
Specific credit - amortizing (665,000)                        
Core deposit intangible 1,641,000                        
Covenant not to compete 125,000                        
Premises and equipment 1,203,000                        
Leased premises contracts (359,000)                        
Other assets (358,000)                        
Deferred tax assets 785,000                        
Adjustments to reflect liabilities acquired at fair value: [Abstract]                          
Time deposits (74,000)                        
Acquired and liabilities assumed, net 10,770,000                        
Goodwill resulting from merger 10,833,000                        
Goodwill and other intangibles 12,814,000                        
Merger and acquisition                     1,103,000    
Asset acquired and liability assumed [Abstract]                          
Total Purchase Price 21,603,000                        
Assets (liabilities) acquired [Abstract]                          
Cash and cash equivalents 83,514,000                        
Interest bearing time deposits with other banks 1,236,000                        
Securities available for sale 23,831,000                        
Loans 115,211,000                        
Premises and equipment, net 4,743,000                        
Accrued interest receivable 282,000                        
Bank-owned life insurance 4,598,000                        
Intangibles 1,981,000                        
Deferred tax asset 2,979,000                        
Other assets 2,332,000                        
Time deposits (42,675,000)                        
Deposits other than time deposits (182,555,000)                        
Accrued interest payable (14,000)                        
Other liabilities (4,693,000)                        
Acquired and liabilities assumed, net 10,770,000                        
Goodwill resulting from the FNB merger $ 10,833,000                        
Estimated future amortization expense core deposit intangible and MSR [Abstract]                          
2015   27,000 27,000               27,000    
2016   366,000 366,000               366,000    
2017   332,000 332,000               332,000    
2018   298,000 298,000               298,000    
2019   264,000 264,000               264,000    
2020   200,000 200,000               200,000    
Thereafter   494,000 494,000               494,000    
Total   1,981,000 1,981,000               1,981,000    
Integration costs and amortization of fair value                          
Net interest income   401,000                      
Non-interest income   21,000                      
Net income   (22,000)                      
Proforma net interest income                     37,736,000 37,634,000  
Proforma non-interest income                     8,576,000 8,184,000  
Proforma net income                     $ 8,640,000 $ 14,019,000  
Pro forma earnings per share [Abstract]                          
Basic (in dollars per share) | $ / shares                     $ 2.57 $ 4.15  
Diluted (in dollars per share) | $ / shares                     $ 2.57 $ 4.15  
First National Bank of Fredericksburg [Member] | Core Deposits [Member]                          
Adjustments to reflect liabilities acquired at fair value: [Abstract]                          
Finite-Lived Intangible Assets, Gross   1,641,000 1,641,000               $ 1,641,000    
Finite-Lived Intangible Assets, Accumulated Amortization   25,000 25,000               25,000    
First National Bank of Fredericksburg [Member] | Covenant not to Compete [Member]                          
Adjustments to reflect liabilities acquired at fair value: [Abstract]                          
Finite-Lived Intangible Assets, Gross   125,000 125,000               125,000    
Finite-Lived Intangible Assets, Accumulated Amortization   2,000 2,000               2,000    
First National Bank of Fredericksburg [Member] | MSR [Member]                          
Adjustments to reflect liabilities acquired at fair value: [Abstract]                          
Finite-Lived Intangible Assets, Gross   215,000 215,000               215,000    
Finite-Lived Intangible Assets, Accumulated Amortization   $ 0 $ 0               $ 0    
First National Bank of Fredericksburg [Member] | Lebanon County [Member]                          
Summarizes the purchase of FNB [Abstract]                          
Number of Branches | Branches         4                
First National Bank of Fredericksburg [Member] | Schuylkill County [Member]                          
Summarizes the purchase of FNB [Abstract]                          
Number of Branches | Branches         2                
First National Bank of Fredericksburg [Member] | Berks County [Member]                          
Summarizes the purchase of FNB [Abstract]                          
Number of Branches | Branches         1                
First National Bank of Fredericksburg [Member] | Common Stock [Member]                          
Purchase Price Consideration in Common Stock [Abstract]                          
Citizens Financial Services, Inc. shares issued | shares 336,515                        
Value assigned to Citizens Financial Services, Inc. common share (in dollars per share) | $ / shares $ 47.5                        
Purchase price assigned to FNB common shares exchanged for Citizens Financial Services, Inc. $ 15,984,000                        
[1] Excludes fully amortized intangible assets