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Business Combination (Tables)
12 Months Ended
Dec. 31, 2020
Business Combinations [Abstract]  
Schedule of fair value of identifiable assets and liabilities
($ in thousands)  June 5,
2020
 
Fair value of assets acquired    
     
Cash and cash equivalents  $31,756 
Interest bearing time deposits   11,542 
Investment securities   1,362 
Federal Home Loan Bank stock   117 
Loans held for investment   16,395 
Premises and equipment   446 
Goodwill   4,299 
Core deposit intangible   660 
Other assets   192 
Total assets acquired  $66,769 
      
Fair value of liabilities assumed     
      
Deposits  $51,053 
Other liabilities   223 
Total liabilities assumed   51,276 
Total purchase price (cash)  $15,493 
Schedule of pro forma financial information
   Twelve Months Ended
December 31
 
Summary of Operations ($ in thousands)  2020   2019 
         
Net interest income  $36,429   $36,307 
Provision for loan losses   4,500    806 
Net interest income after provision  $31,929   $35,501 
           
Non interest income   30,140    18,132 
Non interest expense   44,158    38,484 
Income before income taxes  $17,911   $15,149 
Income tax expense*   3,384    2,768 
Net income  $14,527   $12,381 
Preferred share dividends   -    487 
           
Net income to common shareholders  $14,527   $11,894 
Basic earnings per share  $1.90   $1.84 
Diluted earnngs per share  $1.90   $1.56 
*Income tax expense for Edon calculated using a 21% statuatory rate