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Accounting for Certain Loans Acquired in a Transfer

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

ACCOUNTING FOR CERTAIN LOANS ACQUIRED IN A TRANSFER

NOTE 6 – ACCOUNTING FOR CERTAIN LOANS ACQUIRED IN A TRANSFER

The Company acquired loans in the acquisition of The Edon State Bank Company of Edon, Ohio, effective June 5, 2020. None of the acquired loans had evidence of deterioration of credit quality since origination, and it was probable, at acquisition, that all contractually required payments would be collected.

The following table presents the carrying amount of the acquired loans included in the consolidated balance sheet as of March 31, 2021:

($ in thousands)		March 31, 2021
Commercial & industrial		$	1,449
Commercial real estate - owner occupied			-
Commercial real estate - nonowner occupied			450
Agricultural			8,250
Residential real estate			2,919
HELOC			-
Consumer			66
Total loans		$	13,134

Accretable yield, or income expected to be collected as of March 31, 2021 was $0.3 million.

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- References

No definition available.

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- Definition

Disclosure of accounting policy for receivable. Includes, but is not limited to, accounts receivable and financing receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84158767&loc=d3e18780-107790

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121611835&loc=d3e5033-111524

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=84159169&loc=d3e10178-111534

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84159169&loc=d3e10149-111534

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=84159169&loc=d3e10133-111534

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