Acquisitions (Tables)

3 Months Ended

Mar. 31, 2016

Fair Values of Assets Acquired, Liabilities Assumed, and Consideration Paid

The merger with BNB was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed, and consideration paid were recorded at their estimated fair values as of the merger date, as summarized in the following table (in thousands):



Consideration Paid:
Common shares issued	$	9,063
Cash paid to shareholder(s)	4,403
Total consideration paid	13,466

Identifiable Assets Acquired:
Cash and cash equivalents	13,396
Investment securities	58,239
Federal Reserve Bank stock	130
Loans	34,661
Premises and equipment	2,311
Core deposit intangible	1,418
Other assets	532
Total identifiable assets acquired	110,687

Liabilities Assumed:
Deposits	99,133
Deferred income taxes	576
Other liabilities	57
Total liabilities assumed	99,766

Total Identifiable Net Assets Acquired	10,921

Goodwill resulting from merger	$	2,545