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Branch Acquisition (Tables)

6 Months Ended

Jun. 30, 2021

Branch Acquisition

Schedule of assets acquired and liabilities assumed

The following table reflects the basis of assets acquired and liabilities assumed from Riverview Bank as of the acquisition date (in thousands).

​

​	​	​	​	​
Consideration received	​	​		​
Cash received	​	​	$	40,154
​	​	​	​	​
​	​	​	​	​
Fair value of assets acquired	​	​	​	​
Cash and cash equivalents	$	258	​	​
Loans	​	36	​	​
Premises and equipment	​	158		​
Core deposit intangible	​	177	​	​
Other assets	​	19	​	​
​	​	​	​	648
Fair value of liabilities assumed	​	​		​
Deposits	​	(42,432)		​
Other liabilities	​	(37)		​
​	​	​		(42,469)
​	​	​	​	​
Total fair value of identifiable net assets	​	​	​	(41,821)
​	​	​	​	​
Goodwill resulting from acquisition	​	​	$	1,667

Schedule of future amortization expense

As of June 30, 2021, the current year and estimated future amortization expense for the core deposit intangible associated with the Riverview branch acquisition is as follows (in thousands):

​

​	​	​
2021	$	19
2022	​	30
2023		27
2024		24
2025		21
After five years	​	56
​	$	177

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