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Mergers and Acquisitions
3 Months Ended
Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]  
Mergers and Acquisitions Mergers and Acquisitions
Waterstone, LSP, LLP

On January 31, 2024, the Company consummated the acquisition, through b1BANK, of Waterstone LSP, LLC (“Waterstone”), headquartered in Katy, Texas. Upon consummation of the acquisition, the Company paid $3.3 million in cash to the former owners of Waterstone. As part of the acquisition, the Company recorded $3.1 million in goodwill.
The Company has recorded approximately $715,000 and $236,000 of acquisition-related costs within merger and conversion-related expenses and salaries and benefits for the three months ended March 31, 2024, and year ended December 31, 2023, respectively.