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Note 17 - Acquisitions (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

(Dollars in thousands)		Bank of Fincastle				SmartBank				Total
Purchase price:
Cash paid		$	6,752			$	83,745			$	90,497
Common stock issued			27,069				-				27,069
Total purchase price		$	33,821			$	83,745			$	117,566
Identifiable assets acquired:
Cash and due from banks		$	46,158			$	-			$	46,158
Federal funds sold			120				-				120
Securities, AFS, at fair value			12,112				-				12,112
Restricted securities			183				-				183
Loans, net of ALLL			193,664				81,636				275,300
Bank premises and equipment			3,471				172				3,643
Accrued interest receivable			1,561				143				1,704
OREO			2,137				-				2,137
BOLI			5,852				-				5,852
Other assets			4,259				-				4,259
Total identifiable assets acquired		$	269,517			$	81,951			$	351,468
Identifiable liabilities assumed:
Demand deposits & savings accounts		$	184,535			$	-			$	184,535
Time deposits			52,246				-				52,246
Accrued expenses and other liabilities			1,132				-				1,132
Total identifiable liabilities assumed		$	237,913			$	-			$	237,913
Net identifiable assets acquired at fair value		$	31,604			$	81,951			$	113,555
Goodwill resulting from acquisitions		$	2,217			$	1,794			$	4,011

Business Acquisition, Pro Forma Information [Table Text Block]

		Unaudited Pro Forma				Unaudited Pro Forma
		Nine Months Ended				Nine Months Ended
(Dollars in thousands, except per share amounts)		September 30, 2021				September 30, 2020
Total revenues (net interest income plus noninterest income)		$	37,670			$	36,077
Net income		$	7,849			$	7,145
Net income per share, basic		$	1.26			$	1.15
Net income per share, diluted		$	1.26			$	1.15

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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-Publisher FASB
-Name Accounting Standards Codification
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- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
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