XML 40 R30.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Acquisition of Delaware Bancshares, Inc. (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2017
Acquisition of Delaware Bancshares, Inc. [Abstract] |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] |
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿(Dollars in Thousands, Except Per Share Data) |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿Purchase Price Consideration in Common Stock
﻿Delaware Bancshares, Inc. common shares settled for stock |  |  | 694,114 |  |  |
﻿Exchange Ratio |  |  | 0.6221 |  |  |
﻿Norwood Financial Corp. shares issued |  |  | 431,605 |  |  |
﻿Value assigned to each Norwood Financial Corp. common share |  | $ | 28.15 |  |  |
﻿Purchase price assigned to Delaware Bancshares, Inc. common shares |  |  |  |  | $ | 12,150
﻿ exchanged for Norwood Financial Corp. shares |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿Purchase Price Consideration - Cash for Common Stock |  |  |  |  |  |
﻿Delaware Bancshares, Inc. shares exchanged for cash |  |  | 231,385 |  |  |
﻿Purchase price paid to each Delaware Bancshares, Inc. common share exchanged for cash |  | $ | 16.68 |  |  |
﻿Purchase price assigned to Delaware Bancshares, Inc. common shares exchanged for cash |  |  |  |  | $ | 3,860
﻿Purchase price consideration - Cash-in-lieu of Fractional Shares |  |  |  |  |  | 6
﻿Total Purchase Price |  |  |  |  | $ | 16,016
﻿ |  |  |  |  |  |
﻿Net Assets Acquired: |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿Delaware Bancshares, Inc. shareholders' equity |  | $ | 19,357 |  |  |
﻿Delaware Bancshares, Inc. goodwill and intangibles |  |  | (7,640) |  |  |
﻿Total tangible equity |  |  | 11,717 |  |  |
﻿ |  |  |  |  |  |
﻿Adjustments to reflect assets acquired at fair value: |  |  |  |  |  |
﻿Investments |  |  | 219 |  |  |
﻿Loans |  |  |  |  |  |
﻿ Interest rate |  |  | 1,486 |  |  |
﻿ General credit |  |  | (1,614) |  |  |
﻿ Specific credit - non-amortizing |  |  | (260) |  |  |
﻿ Specific credit - amortizing |  |  | (239) |  |  |
﻿Core deposit intangible |  |  | 449 |  |  |
﻿Deferred loan fees |  |  | (296) |  |  |
﻿Premises and equipment |  |  | 3,053 |  |  |
﻿Allowance for loan and lease losses |  |  | 1,651 |  |  |
﻿Deferred tax assets |  |  | (1,417) |  |  |
﻿Other |  |  | (97) |  |  |
﻿ |  |  |  |  |  |
﻿Adjustments to reflect liabilities acquired at fair value: |  |  |  |  |  |
﻿Time deposits |  |  | (252) |  |  |
﻿ |  |  |  |  |  | 14,400
﻿Goodwill resulting from merger |  |  |  |  | $ | 1,616
﻿
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ﻿ ﻿ The following condensed statement reflects the values assigned to Delaware Bancshares, Inc. net assets as of acquisition date: ﻿
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿(In Thousands) |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿Total purchase price |  |  |  |  | $ | 16,016
﻿ |  |  |  |  |  |
﻿Net assets acquired: |  |  |  |  |  |
﻿Cash |  | $ | 14,977 |  |  |
﻿Securities available for sale |  |  | 208,488 |  |  |
﻿Loans |  |  | 116,674 |  |  |
﻿Premises and equipment, net |  |  | 7,292 |  |  |
﻿Regulatory stock |  |  | 279 |  |  |
﻿Accrued interest receivable |  |  | 1,626 |  |  |
﻿Bank-owned life insurance |  |  | 14,762 |  |  |
﻿Core deposit intangible |  |  | 449 |  |  |
﻿Deferred tax assets |  |  | 3,034 |  |  |
﻿Other assets |  |  | 3,282 |  |  |
﻿Time deposits |  |  | (71,342) |  |  |
﻿Deposits other than time deposits |  |  | (255,921) |  |  |
﻿Borrowings |  |  | (21,232) |  |  |
﻿Accrued interest payable |  |  | (95) |  |  |
﻿Other liabilities |  |  | (7,873) |  |  |
﻿ |  |  |  |  |  | 14,400
﻿ |  |  |  |  |  |
﻿Goodwill resulting from Delaware Bancshares, Inc., Merger |  |  |  |  | $ | 1,616
﻿ ﻿
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] |
﻿ |  |  |
﻿ |  |  |
﻿ | (In thousands) |  |
﻿ |  |  |
﻿ | 2017 | $ | 58
﻿ | 2018 |  | 70
﻿ | 2019 |  | 62
﻿ | 2020 |  | 54
﻿ | 2021 |  | 46
﻿ | After five years |  | 105
﻿ |  | $ | 395
﻿

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration