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Acquisition | 12 Months Ended
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Dec. 31, 2014
Business Combinations [Abstract] |
Acquisition |
Note 22. | Acquisition
On November 18, 2014, the Bank entered into a Purchase and Assumption Agreement (the “Agreement”) with Bank of America, National Association to acquire branch banking operations of six locations in Virginia. Subject to the satisfaction of customary closing conditions, the Bank expects the transaction to close in the second quarter of 2015. After the transaction closes, the Bank expects its assets to total approximately $750 million. The Agreement includes the acquisition of approximately $308 million of deposits and $1.7 million of premises and equipment. The Bank agreed to pay a 2.25% premium on total deposits on the closing date.

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