XML 117 R51.htm IDEA: XBRL DOCUMENT v3.20.1
Merger - Summary of the fair value recorded (Details)
12 Months Ended
Dec. 31, 2019
USD ($)
Portion at Other than Fair Value Measurement [Member]  
Consideration Paid:  
Fair value of total consideration transferred (common shares issued) $ 1,240,001
Identifiable Assets Acquired:  
Cash and cash equivalents 2,224,645
Interest-bearing time deposits 3,580,000
Investment securities 5,280,000
Federal Home Loan Bank Stock 1,543,300
Net loans receivable 16,159,521
Premises & Equipment, net 194,202
Core deposit and other intangibles 0
Other real estate owned 132,590
Other assets 895,044
Total identifiable assets acquired 30,009,302
Liabilities Assumed:  
Deposits 26,475,279
Federal Home Loan Bank advances 343,242
Deferred taxes 41,947
Other Liabilities 345,260
Total liabilities assumed 27,205,728
Total identified net assets acquired 2,803,574
Gain on merger 1,563,573
Changes Measurement [Member]  
Consideration Paid:  
Fair value of total consideration transferred (common shares issued) 0
Identifiable Assets Acquired:  
Cash and cash equivalents 0
Interest-bearing time deposits 0
Investment securities (280,107)
Federal Home Loan Bank Stock 0
Net loans receivable 164,074
Premises & Equipment, net 772,700
Core deposit and other intangibles 221,193
Other real estate owned (33,000)
Other assets (35,718)
Total identifiable assets acquired 809,142
Liabilities Assumed:  
Deposits 3,739
Federal Home Loan Bank advances 0
Deferred taxes 176,636
Other Liabilities 0
Total liabilities assumed 180,375
Total identified net assets acquired 628,767
Gain on merger 628,767
Reported Value Measurement [Member]  
Consideration Paid:  
Fair value of total consideration transferred (common shares issued) 1,240,001
Identifiable Assets Acquired:  
Cash and cash equivalents 2,224,645
Interest-bearing time deposits 3,580,000
Investment securities 4,999,893
Federal Home Loan Bank Stock 1,543,300
Net loans receivable 16,323,595
Premises & Equipment, net 966,902
Core deposit and other intangibles 221,193
Other real estate owned 99,590
Other assets 859,326
Total identifiable assets acquired 30,818,444
Liabilities Assumed:  
Deposits 26,479,018
Federal Home Loan Bank advances 343,242
Deferred taxes 218,583
Other Liabilities 345,260
Total liabilities assumed 27,386,103
Total identified net assets acquired 3,432,341
Gain on merger $ 2,192,340