Branch Purchase

3 Months Ended

Mar. 31, 2013

Branch Purchase [Abstract]

BRANCH PURCHASE

NOTE 2: BRANCH PURCHASE

On April 2, 2012, the Bank entered into a Purchase and Assumption Agreement with Capital Bank, National Association, to acquire certain assets and assume certain liabilities of one full-service branch office of Capital Bank located in Boothwyn, Pennsylvania (the "Branch Acquisition").

The Bank consummated the Branch Acquisition on June 11, 2012.  The Bank purchased specified assets of the branch, including personal loans totaling $66,000, real estate, furniture and equipment totaling $670,000 and  assumed approximately $15.9 million of deposits.  The Branch Acquisition includes the payment to Capital Bank of $130,000 or a 0.82%  premium on the deposits, which has been recorded as a core deposit intangible.