Acquisition (Tables)

12 Months Ended

Dec. 31, 2020

Acquisition [Abstract]

Summary of Consideration Paid for MNB

Purchase Price Consideration in Common Stock
MNB shares outstanding			1,132,873
Exchange ratio			1.039
Total FDBC shares			1,177,055
Shares paid in cash for fractional shares			84.71
Cash consideration (per MNB share)		$	43.77
Cash portion of purchase price (cash in lieu of fractional shares)		$	3,708
Total FDBC shares issued			1,176,970
FDBC’s share price for purposes of calculation		$	38.58
Equity portion of purchase price		$	45,407,503
Total consideration paid		$	45,411,210
Allocation of Purchase Price	In thousands
Total Purchase Price		$	45,411
Estimated Fair Value of Assets Acquired
Cash and cash equivalents	53,004
Investment securities	123,420
Loans held for sale	604
Loans	244,679
Restricted investments in bank stock	692
Premises and equipment	6,907
Core deposit intangible asset	1,973
Other assets	13,264
Total assets acquired	444,543
Estimated Fair Value of Liabilities Assumed
Non-interest bearing deposits	118,822
Interest bearing deposits	276,816
FHLB borrowings	7,627
Other liabilities	2,710
Total liabilities assumed	405,975
Net Assets Acquired			38,568
Goodwill Recorded in Acquisition		$	6,843

Summary of Fair Value Adjustments of Loans Acquired

Dollars in thousands
Gross amortized cost basis at April 30, 2020	$	250,347
Interest rate fair value adjustment on pools of homogeneous loans		3,335
Credit fair value adjustment on pools of homogeneous loans		(6,863)
Credit fair value adjustment on purchased credit impaired loans		(1,536)
Fair value of acquired loans at April 30, 2020	$	245,283

Summary of Credit Adjustment on Acquired Impaired Loans

Dollars in thousands
Contractual principal and interest at acquisition	$	3,778
Nonaccretable difference		(2,214)
Expected cash flows at acquisition		1,564
Accretable yield		(248)
Fair value of purchased impaired loans	$	1,316

Summary of Supplemental Pro Forma Financial Information

	Years ended December 31,
(Dollars in thousands)	2020		2019
Net interest income	$	48,812	$	46,199
Other income		14,387		11,966
Total net interest income and other income	$	63,199	$	58,165
Net income		14,272		16,035
Basic earnings per common share	$	2.87	$	3.24
Diluted earnings per common share	$	2.85	$	3.21