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Acquired Credit Impaired Loans | 6 Months Ended
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Jun. 30, 2024
Receivables [Abstract] |
Acquired Credit Impaired Loans | PURCHASED CREDIT DETERIORATED LOANS LCNB acquired loans through the merger with EFBI for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of these loans at acquisition on April 12, 2024 is as follows (in thousands):
Purchase price of loans at acquisition | 2,811
Allowance for credit losses at acquisition | 189
Non-credit discount/(premium) at acquisition | 253
Par value of acquired loans at acquisition | $ | 3,253 |
The following table provides, as of June 30, 2024, the major classifications of purchased credit deteriorated loans acquired from EFBI (in thousands):
Commercial & industrial | $ | 184 |  |  |
Commercial, secured by real estate | 379 |  |  |
Residential real estate | 2,414 |  |  |
Total | $ | 2,977 |  |  |
The following table provides the outstanding balance and related carrying amount for purchased credit deteriorated loans acquired from EFBI as of June 30, 2024 (in thousands):
Outstanding balance | $ | 3,228 |  |  |
Carrying amount | 2,977 |  |  |
Activity during 2024 for the accretable discount related to purchased credit deteriorated loans acquired from EFBI and CNNB is as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30, |  |
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Accretable discount, beginning of period | $ | 1,410 |  |  | — |  |  | 1,467 |  |  | — |  |  |
Accretable discount acquired during period from merger with EFBI | 253 |  |  | — |  |  | 253 |  |  | — |  |  |
Less loans transferred to held-for-sale | 396 |  |  | — |  |  | 396 |  |  | — |  |  |
Less accretion | 108 |  |  | — |  |  | 165 |  |  | — |  |  |
Accretable discount, end of period | $ | 1,159 |  |  | — |  |  | 1,159 |  |  | — |  |  |

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- Definition The entire disclosure for certain contractual rights to receive money on demand or on fixed or determinable dates with evidence of deterioration of credit quality since origination that were acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 310 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-30/tableOfContent + Details
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- References No definition available. + Details
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