Acquisition and Preliminary Purchase Price Allocation (Tables)

3 Months Ended

Mar. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Asset Acquisition

The following table summarizes the consideration paid for Citizens and the amounts of the assets acquired and liabilities assumed as of the date of acquisition (in thousands):

Consideration:
Common stock	$	61,570
Cash	13
	61,583
Identifiable assets:
Cash and cash equivalents	14,041
Investment securities	41,008
FHLB stock	620
Loans	251,406
Fixed assets	3,237
Bank owned life insurance	2,966
Deferred tax assets, net	1,623
Other assets	5,198
Total identifiable assets	320,099
Identifiable liabilities:
Deposits	299,251
Short-term borrowings	6,500
Other liabilities	1,864
Total identifiable liabilities	307,615
Net identifiable assets (liabilities)	12,484
Goodwill	40,821
Core deposit intangible	8,278
	$	61,583

Schedule of Goodwill

The following table summarizes adjustments to goodwill subsequent to December 31, 2023 (in thousands):

	Goodwill
Balance at December 31, 2023	$	149,902
Adjustment to goodwill acquired in conjunction with the acquisition of Citizens	(140)
Balance at March 31, 2024	$	149,762