XML 64 R22.htm IDEA: XBRL DOCUMENT
v3.20.1

Subsequent Event | 3 Months Ended
--- | ---
Mar. 31, 2020
Subsequent Events [Abstract] |
Subsequent Events [Text Block] | NOTE 14 – SUBSEQUENT EVENT On February 6, 2020, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Edon Bancorp, Inc. (“Edon”). 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 value in aggregate of approximately $15.5 million. The Company is anticipating the receipt of all regulatory and shareholder approvals in the near term and expects to close the merger in the second quarter of 2020. The COVID-19 pandemic is creating extensive disruptions to the global economy and to the lives of individuals throughout the world. Business and consumer customers of the Bank are experiencing varying degrees of financial distress, which is expected to increase over coming months and will likely adversely affect their ability to timely pay interest and principal on their loans and the value of the collateral securing their obligations. This uncertainty may negatively impact the balance sheet, income statement, and cash flows of the Company. The Company has responded to the pandemic by actively participating in the Paycheck Protection Program (“PPP”) and has disbursed nearly $82 million to small businesses in our markets. In addition, we have approved over $136 million in loan forbearances to clients. These actions may impact our financial statements during the remainder of 2020 although the specific details cannot be determined at this time.

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