Acquisition of Stewardship Financial Corporation (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of recognized identified assets acquired and liabilities assumed

The following table sets forth assets acquired and liabilities assumed in the Stewardship acquisition, at their estimated fair values as of the closing date of the transaction:

	November 1, 2019
Assets acquired:
Cash and cash equivalents	$	105,006
Debt securities available for sale	51,710
Equity securities	1,073
Federal Home Loan Bank stock	3,716
Loans receivable	757,223
Accrued interest receivable	2,239
Office properties and equipment, net	6,815
Bank-owned life insurance	22,096
Deferred tax assets, net	3,534
Core deposit and other intangibles	7,467
Other assets	767
Total assets acquired	961,646
Liabilities assumed:
Deposits	$	782,698
Borrowings	82,761
Advance payments by borrowers for taxes and insurance	356
Accrued expenses and other liabilities	14,584
Total liabilities assumed	$	880,399
Net assets acquired	$	81,247
Cash paid for purchase	136,294
Goodwill recorded at merger	$	55,047