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Note 3 - Acquisition Activity (Tables)

9 Months Ended

Sep. 30, 2018

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

		Acquired from TPB				Fair Value Adjustments				Fair Value as of August 31, 2018
Assets Acquired:
Cash and cash equivalents		$	3,085			$	—			$	3,085
Investment securities, available-for-sale			5,977				—				5,977
Federal Home Loan Bank stock, at cost			565				—				565
Loans			156,772				(2,395	)			154,377
Allowance for loan losses			(1,702	)			1,702				—
Net loans			155,070				(693	)			154,377
Premises and equipment, net			1,198				17				1,215
Other real estate owned			85				—				85
Other assets			551				(245	)			306
Core deposit intangible			—				2,048				2,048
Total assets acquired		$	166,531			$	1,127			$	167,658
Liabilities Assumed:
Deposits			140,033				342				140,375
Short-term borrowings			10,000				—				10,000
Other liabilities			437				—				437
Total liabilities assumed			150,470				342				150,812
Shareholders’ Equity Assumed:
Common stock			1,027				(1,027	)			—
Surplus			5,280				(5,280	)			—
Accumulated other comprehensive income, net of tax			17				(17	)			—
Retained earnings			9,737				(9,737	)			—
Total shareholders’ equity assumed			16,061				(16,061	)			—
Total liabilities and shareholders’ equity assumed		$	166,531			$	(15,719	)		$	150,812
Net assets acquired										$	16,846
Purchase price											24,398
Goodwill										$	7,552

Business Acquisition, Pro Forma Information [Table Text Block]

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2018				2017				2018				2017
		(Dollars in Thousands, Except Per Share Data)
Summary of Operations
Net interest income		$	9,725			$	9,045			$	28,565			$	26,609
Provision for loan and lease losses			789				373				2,149				1,464
Net interest income after provision for loan and lease losses			8,936				8,672				26,416				25,145
Non-interest income			2,166				1,292				4,604				3,555
Non-interest expense			10,175				8,178				26,914				23,971
Income before income taxes			927				1,786				4,106				4,729
Provision for income taxes			370				530				1,072				1,433
Net income		$	557			$	1,256			$	3,034			$	3,296
Basic net income per share		$	0.09			$	0.20			$	0.47			$	0.52
Diluted net income per share		$	0.08			$	0.19			$	0.45			$	0.49

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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X

- 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=84161108&loc=d3e4845-128472

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