XML 110 R30.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Subsequent Events | 12 Months Ended
--- | ---
Dec. 31, 2019
Subsequent Events [Abstract] |
Subsequent Events [Text Block] | Note 22: Subsequent Events On February 6, 2020, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Edon Bancorp, Inc. (“Edon”), The Edon State Bank Company (“Edon State Bank”), Edon’s subsidiary bank, State Bank and Trust Company (“State Bank and Trust”), the Company’s subsidiary bank, and Garden Acquisition Co. (“Merger Sub”), a wholly owned subsidiary of the Company, pursuant to which the Company will acquire Edon. Subject to the terms and conditions of the Merger Agreement, which has been approved by the boards of directors of each party, (i) Merger Sub will merge with and into Edon, with Edon surviving as a wholly-owned subsidiary of the Company (the “Merger”); (ii) immediately thereafter, Edon will liquidate and dissolve into the Company; and (iii) immediately following, Edon State Bank will merge with and into State Bank and Trust, with State Bank and Trust surviving. Under the terms of the Merger Agreement, each outstanding share of Edon common stock will be converted into the right to receive $103.50 in cash, for a transaction valued in aggregate at approximately $15.5 million. The Merger is subject to customary closing conditions, including the receipt of regulatory approvals and approval by the shareholders of Edon, and is expected to close in the second quarter of 2020. Concurrently with entering into the Merger Agreement, the Company entered into Voting Agreements with each of the directors and certain shareholders of Edon, pursuant to which such directors and shareholders agreed to vote their shares of Edon common stock in favor of the Merger. If the Merger is not consummated under specified circumstances, each party may be required to pay the other party a termination fee of $465,000.

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

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration