XML 31 R57.htm IDEA: XBRL DOCUMENT v2.4.1.9
MERGERS AND ACQUISITIONS - Recognized amounts of identifiable assets acquired and liabilities assumed, at fair value (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
As Acquired  
Cash and cash equivalents $ 18,650us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsAquiredMember
Investment securities 11,820us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMarketableSecurities
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsAquiredMember
Loans 204,398us-gaap_BusinessCombinationAcquiredReceivablesFairValue
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsAquiredMember
Premises and equipment 1,046us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsAquiredMember
Other assets 7,006us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsAquiredMember
Core deposit intangible   
Deposits (210,559)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsAquiredMember
Other liabilities (1,733)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsAquiredMember
Total identifiable net assets 30,628us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsAquiredMember
Fair Value Adjustment  
Cash and cash equivalents   
Investment securities (78)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMarketableSecurities
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueFairValueAdjustmentMember
[1]
Loans (8,093)us-gaap_BusinessCombinationAcquiredReceivablesFairValue
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueFairValueAdjustmentMember
[2]
Premises and equipment 497us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueFairValueAdjustmentMember
[3]
Other assets   
Core deposit intangible 2,215us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIndefiniteLivedIntangibleAssets
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueFairValueAdjustmentMember
Deposits (641)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueFairValueAdjustmentMember
[4]
Other liabilities   
Total identifiable net assets (6,100)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueFairValueAdjustmentMember
As Recorded at Aquisition  
Cash and cash equivalents 18,650us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsRecordedAtAcquisitionMember
Investment securities 11,742us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMarketableSecurities
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsRecordedAtAcquisitionMember
Loans 196,305us-gaap_BusinessCombinationAcquiredReceivablesFairValue
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsRecordedAtAcquisitionMember
Premises and equipment 1,543us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsRecordedAtAcquisitionMember
Other assets 7,006us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsRecordedAtAcquisitionMember
Core deposit intangible 2,215us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIndefiniteLivedIntangibleAssets
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsRecordedAtAcquisitionMember
Deposits (211,200)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsRecordedAtAcquisitionMember
Other liabilities (1,733)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsRecordedAtAcquisitionMember
Total identifiable net assets 24,528us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsRecordedAtAcquisitionMember
Goodwill $ 2,723us-gaap_Goodwill
/ us-gaap_BusinessAcquisitionAxis
= SAL_AssetsAcquiredAndLiabilitiesAssumedValueAsRecordedAtAcquisitionMember
[1] (a) The adjustment represents the decrease in the book value of investments to their estimated fair value based on fair values on the date of acquisition.
[2] (b) The adjustment represents the write down of the book value of loans to their estimated fair value based on current interest rates and expected cash flows, which includes an estimate of expected loan loss inherent in the portfolio. Loans that met the criteria and are being accounted for in accordance with ASC 310-30 had a carrying amount of $13.7 million. Non-impaired loans not accounted for under 310-30 had a carrying value of $190.7 million.
[3] (c) The adjustment represents the appraised value of the land and building acquired in the acquisition. The land and building were recorded as fixed assets and the building will be amortized over its remaining useful life.
[4] (d) The adjustment is necessary because the weighted average interest rate of deposits exceeded the cost of similar funding at the time of acquisition.