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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Consideration Paid for Loan portfolio and Amounts of Assets Purchased

The following table summarizes the consideration paid for the loan portfolio and the amounts of assets purchased:

($ in thousands)
Consideration
Cash			$	97,631
Recognized amounts of identifiable assets purchased:
Loans (1)			$	100,003
Loan discounts			(8,867)
Accrued interest receivable			398
Servicing assets			6,097
Total recognized identifiable assets			$	97,631

(1)Consists of $92.2 million of SBA loans, $6.9 million of PPP loans and $919 thousand of real estate loans.

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- References

No definition available.

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- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472

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