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Acquisition (Tables) | 9 Months Ended
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Sep. 30, 2021
Business Combinations [Abstract] |
Schedule of Fair Value of Assets Acquired and Liabilities Assumed | The fair value of the assets acquired and liabilities assumed on January 10, 2020 was as follows:
| As recorded by |  | Fair Value |  | As recorded by |
| ABB |  | Adjustments |  | CFBI |
|  |  | (in thousands) |  |  |
Cash, cash equivalents and securities available-for-sale | $ | 41,561 |  | $ | — |  | $ | 41,561 |
Loans |  | 264,176 |  |  | (2,327 | ) |  | 261,849 |
Other real estate owned |  | 790 |  |  | — |  |  | 790 |
Core deposit intangible |  | — |  |  | 1,913 |  |  | 1,913 |
Fixed assets and other assets |  | 11,629 |  |  | — |  |  | 11,629 |
Total assets acquired |  | 318,156 |  |  | (414 | ) |  | 317,742 |
Deposits |  | 249,049 |  |  | 265 |  |  | 249,314 |
Borrowings and other liabilities |  | 37,764 |  |  | 1,654 |  |  | 39,418 |
Total liabilities acquired |  | 286,813 |  |  | 1,919 |  |  | 288,732 |
Excess of assets acquired over liabilities acquired |  | 31,343 |  |  | (2,333 | ) |  | 29,010 |
Purchase price |  |  |  |  |  | 40,338 |
Net assets acquired |  |  |  |  |  | 29,010 |
Less preferred stock redeemed |  |  |  |  |  | (5,891 | )
Net assets acquired less preferred stock |  |  |  |  |  | 23,119 |
Goodwill |  |  |  |  | $ | 17,219 |
Schedule of Unaudited Proforma Information Results of Operations | The following unaudited pro forma information presents the results of operations for nine months ended September 30, 2020, as if the acquisition had occurred January 1 of the period. The Company expects to achieve further operating cost savings and other business synergies as a result of the acquisition which are not reflected in the pro forma amounts. These unaudited pro forma results are presented for illustrative purposes and are not intended to represent or be indicative of the actual results of operations of the combined company that would have been achieved had the acquisition occurred at the beginning of each period presented, nor are they intended to represent or be indicative of future results of operations.
| Nine Months Ended September 30, |
| 2020 |
| (In thousands except per share data) |
Total revenues, net of interest expense | $ | 20,083 |
Net income |  | 591 |
Diluted earnings per share |  | 0.08 |

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- 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 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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