Mergers (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed as of the date of the acquisition:

	At June 1, 2020
	Net Assets Acquired at Fair Value
	(dollars in thousands)
Total Purchase Price	$	88,766
Assets
Cash and cash equivalents	$	44,667
Investments		23,331
Gross Loans		870,033
Allowance for loan loss		—
Premises and equipment		4,012
Other assets		43,587
Total assets acquired		985,630
Liabilities
Deposits		760,878
Borrowings & Subordinated debt		132,482
Other liabilities		24,209
Total liabilities assumed		917,569
Net Assets Acquired	$	68,061
Goodwill	$	20,705

Schedule of Pro forma Financial Information

The following summarizes the pro forma results of operations as if the Company merged with Wellesley on January 1, 2020 (2019 amounts represent combined results for the Company and Wellesley). The selected pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of the financial results of the combined companies had the acquisition actually been completed at the beginning of the periods presented, nor does it indicate future results for any other interim or full-year period.

	For the Year Ended December 31,
	2020		2019
	(dollars in thousands)
Net interest and dividend income after provision for loan losses	$	159,547	$	111,753
Net Income		70,954		36,491