BUSINESS COMBINATION

6 Months Ended

Jun. 30, 2016

Business Combinations [Abstract]

BUSINESS COMBINATION

14. BUSINESS COMBINATION

On January 29, 2016, the Company completed the purchase of Forge Financial Services, Inc. d/b/a James & Sons Insurance Company of Youngstown, Ohio.  James & Sons Insurance is engaged in the business of selling insurance including auto, commercial, homeowners and life-health insurance.  Under the purchase agreement, the Company paid $1.5 million in stock and $360,000 in cash in connection with this acquisition.  There were $9,000 in acquisition related costs recognized for the six months ended June 30, 2016.  Total assets purchased were $2.3 million, including $1.6 million in goodwill and other intangible assets.  The Company is waiting for independent valuations to separate other intangible assets from goodwill.