ACQUISITION OF NUVO BANK & TRUST COMPANY (Tables)

12 Months Ended

Dec. 31, 2016

Consideration paid and fair value of identifiable assets acquired and liabilities assumed

(In thousands)		Amount
Consideration paid:
Common stock issued in exchange for NUVO shares	$	16,889
Cash paid for NUVO shares		5,988
Stock warrants issued		656
Total consideration paid	$	23,533
Assets acquired:
Cash and cash equivalents	$	7,070
Interest bearing time deposits with banks		110
Investments		4,344
Restricted investment in bank stock		376
Loans		149,360
Premises and equipment , net		580
Accrued interest receivable		369
Core deposit intangible		1,377
Deferred tax asset		1,993
Other assets		356
Total assets acquired		165,935
Liabilities assumed:
Deposits		144,482
Federal Home Loan Bank advances		4,001
Accrued interest payable		42
Tax effect of acquisition fair value adjustments		705
Other liabilities		183
Total liabilities assumed		149,413
Net assets acquired	$	16,522
Goodwill	$	7,011

Schedule of goodwill

	December 31,		December 31,
(In thousands)	2016		2015
Beginning of period	$	6,967	$	—
Effect of adjustments		44		—
Goodwill recorded in acquisition		—		6,967
Impairment		—		—
End of period	$	7,011	$	6,967

Schedule of pro forma information

(In thousands except per share data)	2015		2014
Net interest income	$	53,275	$	51,732
Net income		14,073		11,512
Basic earnings per share		2.05		1.68
Diluted earnings per share	$	2.05	$	1.68

NUVO Bank & Trust Company

Schedule of goodwill

(In thousands)		Amount
Goodwill reported as of December 31, 2015	$	6,967
Effect of adjustments to:
Stock warrants issued		112
Deferred tax asset		(68)
Adjusted goodwill as of December 31, 2016	$	7,011