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Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2018
Acquisitions [Abstract]  
Consideration Transferred, Assets Acquired, and Liabilities Assumed
The following table provides a preliminary assessment of the consideration transferred, assets acquired, and liabilities assumed as of the date of the acquisition (dollars in thousands):

  
As Recorded by Citizens
  
Fair Value Adjustments
  
As Recorded by the Company
 
Consideration paid:
         
Cash
       
$
3,164
 
Company common stock
        
3,957
 
Total purchase price
        
7,121
 
           
Identifiable assets acquired:
          
Cash and cash equivalents
 
$
2,304
  
$
-
  
$
2,304
 
Securities available for sale
  
1,959
   
-
   
1,959
 
Restricted securities, at cost
  
278
   
-
   
278
 
Loans, net
  
42,824
   
(34
)
  
42,790
 
Premises and equipment
  
1,070
   
450
   
1,520
 
Other real estate owned
  
237
   
(11
)
  
226
 
Core deposit intangibles
  
-
   
440
   
440
 
Other assets
  
1,055
   
(126
)
  
929
 
Total assets
 
$
49,727
  
$
719
  
$
50,446
 
             
Identifiable liabilities assumed:
            
Deposits
 
$
43,754
  
$
246
  
$
44,000
 
Other liabilities
  
324
   
-
   
324
 
Total liabilities
 
$
44,078
  
$
246
  
$
44,324
 
             
Net assets acquired
         
$
6,122
 
Preliminary goodwill
         
$
999
 
Acquired Impaired Loans Receivable
The following table presents the acquired impaired loans receivable at the acquisition date (dollars in thousands):

Contractually required principal and interest payments
 
$
1,031
 
Nonaccretable difference
  
(211
)
Cash flows expected to be collected
  
820
 
Accretable difference
  
(110
)
Fair value of loans acquired impaired loans
 
$
710
 
Amortization and Accretion of Premiums and Discounts
The amortization and accretion of premiums and discounts associated with the Company's acquisition accounting adjustments related to the Citizens acquisition had the following impact on the consolidated Statements of Income during the three months ended June 30, 2018 (dollars in thousands). The acquisition occurred on April 1, 2018, therefore the first quarter of 2018 and the comparative 2017 periods had no impact.

  
Three Months Ended
 
  
June 30, 2018
 
Acquired performing loans
 
$
92
 
Acquired impaired loans
  
1
 
Certificate of deposit valuation
  
39
 
Amortization of core deposit intangible
  
(11
)
Net impact to income before taxes
 
$
121