Business Combinations (Tables)

3 Months Ended

Mar. 31, 2014

Summary of Consideration Paid and Amounts of Assets and Liabilities Assumed

Goodwill of $2.6 million, which is recorded on the balance sheet of NAI, arising from the acquisition consisted largely of synergies and the cost savings resulting from the combining of the operations of the companies.  The goodwill is not expected to be deductible for income tax purposes.  The fair value of other intangible assets of $2.3 million is related to client relationships, company name and noncompetition agreements.  The following table summarizes the consideration paid for NAI and the amounts of the assets acquired and liabilities assumed.  

(In Thousands of Dollars)
Consideration
Cash	$	2,111
Stock		1,400
Contingent consideration		920
Fair value of total consideration transferred	$	4,431
Assets acquired and liabilities assumed
Cash	$	28
Accounts receivable		300
Premises and equipment		50
Other assets		1
Total assets acquired		379
Liabilities assumed		81
Net assets acquired	$	298
Assets and liabilities arising from acquisition
Identified intangible assets		2,290
Deferred tax liability		(802	)
Goodwill		2,645
Net assets acquired from acquisition	$	4,431

Pro Forma Information

The following table presents pro forma information as if the acquisition had occurred at the beginning of 2013.  The pro forma information includes adjustments for amortization of intangibles arising from the transaction and the related income tax effects.  The pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transactions been effected on the assumed dates.

(In Thousands of Dollars except per share results)	Three months ended March 31, 2013
Noninterest income	$	3,459
Net income	$	1,931
Basic and diluted earnings per share	$	0.10