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Accounting for Certain Loans Acquired in a Transfer
 9 Months Ended
Sep. 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 Edon 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 September 30, 2021:

 

($ in thousands)  September 30,
2021		 
Commercial & industrial  $1,068 
Commercial real estate - owner occupied   
-
 
Commercial real estate - nonowner occupied   362 
Agricultural   7,579 
Residential real estate   2,487 
HELOC   
-
 
Consumer   41 
      
Total loans  $11,537 

 

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