Commitments and Contingent Liabilities

6 Months Ended

Jun. 30, 2019

VNB Wealth [Member]

Commitments and Contingent Liabilities

Note 11. Commitments and Contingent Liabilities

The Company is currently involved in pending and threatened legal proceedings, both relating to the same matter. While management does not believe that the claims against the Company have merit and is prepared to vigorously defend such claims, the Company accrued a contingent liability of $300 thousand in accordance with applicable accounting guidance and based on the Company’s estimate of a range of possible loss. This amount (a) has been recognized as a loss and appears within other noninterest expense in the Consolidated Statements of Income for the three and six months ended June 30, 2019 and (b) appears as a contingent liability within accrued interest payable and other liabilities in the Consolidated Balance Sheet as of June 30, 2019.