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Integra Acquisition (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

A summary of the fair values of assets acquired, liabilities assumed, consideration transferred, and the resulting goodwill, which represents the expected synergies from the Integra merger, and is not deductible for tax purposes, is as follows:

(In thousands)
Assets acquired:
Factored receivables		$	33,442
Other assets			270
Premises and equipment			24
Loans receivable			1,103
			34,839
Liabilities assumed:
Deposits			2,535
Other liabilities			253
Borrowings			28,927
			31,715
Fair value of net assets acquired			3,124
Consideration:
Cash paid			3,185
Common stock			10,650
Total consideration			13,835
Goodwill		$	10,711

Business Acquisition, Pro Forma Information [Table Text Block]

The tables have been prepared for comparative purposes only and are not necessarily indicative of the actual results that would have been obtained had the acquisition occurred on January 1, 2020, nor is it indicative of future results.

(In thousands)		Actual Integra results of operations for the Period January 1, 2021 through June 30, 2021				Actual for the Year Ended December 31, 2021				Pro Forma for the Year Ended December 31, 2021
Net interest income		$	2,373			$	23,543			$	25,916
Noninterest income			248				36,624				36,872
Noninterest expense			1,377				38,330				39,707
Net income after income taxes			983				17,034				18,017

(In thousands)		Actual Integra results of operations for the Year Ended December 31, 2020				Actual for the Year Ended December 31, 2020				Pro Forma for the Year Ended December 31, 2020
Net interest income		$	2,706			$	13,900			$	16,606
Noninterest income			401				33,721				34,122
Noninterest expense			1,652				33,699				35,351
Net income after income taxes			1,149				10,925				12,074

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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- References

No definition available.

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X

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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