BUSINESS COMBINATIONS (Tables)

6 Months Ended

Jun. 30, 2020

BUSINESS COMBINATIONS

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

	April 17, 2020
	As recorded by		Fair Value		As recorded by
	First Citizens		adjustments		the Company
(Dollars in thousands)
Assets
Cash and cash equivalents	$	60,234	$	—	$	60,234
Loans		108,236		(4,977)		103,259
Premises and equipment		2,106		790		2,896
Accrued interest receivable		338		—		338
Core deposit intangible		—		620		620
Other assets		—		974		974
Total assets acquired	$	170,914	$	(2,593)	$	168,321
Liabilities
Deposits:
Noninterest-bearing	$	41,398	$	—	$	41,398
Interest-bearing		144,845		(760)		144,085
Total deposits		186,243		(760)		185,483
Other liabilities		173		—		173
Total liabilities assumed	$	186,416	$	(760)	$	185,656
Goodwill recorded for branches acquisition					$	17,335

(Dollars in thousands)	April 17, 2020
Contractually required payments	$	26,718
Nonaccretable difference		6,745
Cash flow expected to be collected		19,973
Accretable yield		2,949
Fair value at acquisition date	$	17,024

Business Acquisition, Pro Forma Information

	Six Months Ended June 30
	2020		2019
	(Dollars in thousands, except per share)
Net interest income	$	24,235	$	24,697
Non-interest income		2,929		2,650
Net income available to common shareholders		2,105		7,291
Earnings per share, basic	$	0.12	$	0.38
Earnings per share, diluted	$	0.12	$	0.38
Weighted average common shares outstanding, basic		18,134,607		19,317,029
Weighted average common shares outstanding, diluted		18,157,992		19,360,039