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Business Combination (Tables)

3 Months Ended

Mar. 31, 2021

Business Combinations [Abstract]

Schedule of fair value of identifiable assets and liabilities

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			4,325
Core deposit intangible			660
Other assets			192
Total assets acquired		$	66,795
Fair value of liabilities assumed
Deposits		$	51,053
Other liabilities			223
Total liabilities assumed			51,276
Total purchase price (cash)		$	15,519

Schedule of pro forma financial information

Summary of Operations		Three Months Ended
($ in thousands)		Mar. 2021				Mar. 2020
Net interest income		$	9,625			$	8,885
Provision for loan losses			750				600
Net interest income after provision		$	8,875			$	8,285
Non interest income			10,922				2,188
Non interest expense			10,909				9,687
Income before income taxes		$	8,888			$	786
Income tax expense*			1,807				39
Net income		$	7,081			$	747
Basic earnings per share		$	0.97			$	0.10
Diluted earnings per share		$	0.97			$	0.10

* Income tax expense for Edon calculated using a 21% statuatory rate

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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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- References

No definition available.

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X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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