BUSINESS COMBINATION (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Business Combination, Pro Forma Information

The following table presents pro forma combined information as if the acquisition of TC Bancshares, Inc. had occurred on January 1, 2024. The pro forma amounts presented below give effect to changes in interest income due to the accretion of the net discount associated with the fair value adjustments to acquired loans, changes in noninterest expense associated with the amortization of the core deposit intangible had the acquisition occurred as of January 1, 2024, acquisition-related expenses attributable to the acquisition which primarily include, but is not limited to, advertising, professional fees and information technology expenses as well as related income tax effects on the aforementioned items. The pro forma results are not necessarily indicative of what would have occurred had the merger taken place on the indicated date nor are they intended to represent or be indicative of future results of operations. In addition, cost savings and other business synergies related to the acquisition are not reflected in the pro forma combined amounts.


	For the Year Ended December 31,
(dollars in thousands)	2025		2024

Revenues	$	222,652	$	208,010
Net income	32,263		25,116

Schedule of Assets Acquired and Liabilities Assumed

The following table presents the assets acquired and liabilities assumed of TCBC as of December 1, 2025, and their fair value estimates. The fair value estimates are subject to refinement for up to one year after the closing date of the acquisition for new information obtained about facts and circumstances that existed at the acquisition date. The Company continues its evaluation of the facts and circumstances available as of December 1, 2025, to assign fair values to assets acquired and liabilities assumed, which could result in further adjustments to the fair values presented below.


(dollars in thousands, except market price)	Initial Fair Value Adjustments
Purchase price consideration:
Shares of CBAN common stock issued to TCBC shareholders as of December 1, 2025	3,839,613
Market price of CBAN common stock on November 28, 2025	$	17.15
Estimated fair value of CBAN common stock issued	65,850
Cash consideration paid	15,430
Total consideration	$	81,280

Assets acquired at fair value:
Cash and cash equivalents	$	16,346
Investment securities, available-for-sale	93,485
Loans	412,676
Allowance for credit losses	(4,619)
Premises and equipment	1,615
Core deposit intangible	4,622

Prepaid and other assets	31,066
Total fair value of assets acquired	$	555,191

Liabilities assumed at fair value:
Deposits	$	460,119
FHLB advances	9,969
Payables and other liabilities	16,825
Total fair value of liabilities assumed	$	486,913

Net assets acquired at fair value	$	68,278

Amount of goodwill resulting from acquisition	$	13,002

Schedule of Acquired Loan Data

The following table presents the acquired loan data for the TCBC acquisition.


(dollars in thousands)	Unpaid principal balance		Discount		Loans		Allowance for credit losses on loans		Net loans
PCD loans	$	11,625	$	(580)	$	11,045	$	(1,183)	$	9,862
Non-PCD loans	413,539		(11,908)		401,631		(3,436)		398,195
Total	$	425,164	$	(12,488)	$	412,676	$	(4,619)	$	408,057