Mergers (Tables)

12 Months Ended

Dec. 31, 2022

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 October 1, 2022
	Net Assets Acquired at Fair Value
	(dollars in thousands)
Total Purchase Price	$	62,850
Assets
Cash and cash equivalents	$	82,174
Investments		22,929
Gross loans		303,215
Allowance for loan loss		—
Premises and equipment		6,856
Core deposit intangible		5,320
Other assets		8,181
Total assets acquired		428,675
Liabilities
Deposits		373,129
Repurchase agreements		3,745
Other liabilities		1,579
Total liabilities assumed		378,453
Net assets acquired	$	50,222
Goodwill	$	12,628

Schedule of Pro forma Financial Information

The following summarizes the pro forma results of operations as if the Company merged with Northmark on January 1, 2022 (2021 amounts represent combined results for the Company and Northmark). 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,
	2022		2021
	(dollars in thousands)
Net interest and dividend income after provision for loan losses	$	169,606	$	111,753
Net Income		69,839		29,182