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Accounting for Certain Loans Acquired in a Transfer
 6 Months Ended
Jun. 30, 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 June 30, 2021:

 

($ in thousands)  June 30,
2021		 
Commercial & industrial  $1,321 
Commercial real estate - owner occupied   
-
 
Commercial real estate - nonowner occupied   398 
Agricultural   7,897 
Residential real estate   2,564 
HELOC   
-
 
Consumer   47 
Total loans  $12,227 

 

Accretable yield, or income expected to be collected as of June 30, 2021 was $0.3 million.