Liberty Bell Transaction (Tables) - Liberty Bell Bank

12 Months Ended

Dec. 31, 2019

Business Acquisition [Line Items]

Summary of consideration paid and the fair value of identifiable assets acquired and liabilities assumed as of the date of acquisition

	Estimated Fair
	Value as of
Dollars in Thousands	March 1, 2018
Consideration paid:
Cash	$	4,471
Common stock issued in acquisition		12,798
Total consideration paid		17,270
Assets acquired:
Cash and cash equivalents		11,831
Investment securities		7,605
Investments in correspondent bank stock		180
Loans		121,674
Premises and equipment		2,148
Other real estate owned		946
Accrued interest receivable		358
Core deposit intangible		1,489
Deferred tax asset		4,263
Other assets		1,039
Total assets acquired	$	151,532
Liabilities assumed:
Deposits	$	138,241
Other liabilities		1,259
Total liabilities assumed	$	139,500
Net assets acquired	$	12,032
Goodwill recorded in acquisition		5,237

Summary of fair value adjustments made to the amortized cost basis to present a fair value of the loans acquired

Dollars in Thousands	At March 1, 2018
Gross principal balance	$	124,545
Fair value adjustment on pools of non-credit impaired loans		(1,703)
Fair value adjustment on purchased credit impaired loans		(1,168)
Fair value of acquired loans	$	121,674

Summary of portion of the loan balances that have been deemed uncollectible based on the Company’s expectations of future cash flows for each respective loan

Dollars in Thousands	At March 1, 2018
Contractually required principal and interest at acquisition	$	2,469
Contractual cashflows not expected to be collected (non-accretable discount)		(922)
Expected cash flows at acquisition		1,547
Interest component of expected cash flows		(246)
Fair value for loans acquired under ASC 310-30	$	1,301