XML 60 R9.htm IDEA: XBRL DOCUMENT v3.20.1
MERGERS AND ACQUISITIONS
 12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
MERGERS AND ACQUISITIONS

NOTE 2 – MERGERS AND ACQUISITIONS

On December 5, 2014, the Company acquired Riverside Bank. Riverside Bank operated four banking offices serving Dutchess, Ulster and Orange Counties in New York, and was merged with and into the Bank. In first quarter 2019, Salisbury transferred the remaining unearned credit-related discount on loans acquired in its 2014 acquisition of Riverside Bank to the allowance for loan losses.

The following table summarizes activity in the accretable yield for the acquired loan portfolio that falls under the purview of ASC 310-30. 

  (In thousands)    2019      2018  
Balance at beginning of period  $204   $517 
Acquisitions   —    — 
Accretion   (204)   (164)
Disposals   —    (149)
Reclassification from non-accretable to accretable   —    — 
Balance at end of period  $—   $204 

In first quarter 2019 Salisbury transferred the remaining unearned credit-related discount on loans acquired in its 2014 acquisition of Riverside Bank to the allowance for loan losses. At December 31, 2018, Salisbury ASC 310-30 loans had an outstanding balance totaling $2.1 million and a carrying value of $1.9 million.