Note 3 - Acquisition of KSB (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	May 1, 2019
	As Recorded			Fair Value				Recast				As Recorded
(in thousands)	by King			Adjustments (1)				Adjustments (1)				by Bancorp
Assets acquired:
Cash and due from banks	$	3,316		$	—			$	—			$	3,316
Interest bearing due from banks		1,761			—				—				1,761
Securities available for sale		12,404			23		a		—				12,427
Federal Home Loan Bank stock, at cost		1,517			—				—				1,517
Federal Reserve Bank stock, at cost		490			—				—				490
Loans		165,744			(1,597	)	b		(118	)	b		164,029
Allowance for loan losses		(1,812	)		1,812		b		—				—
Net loans		163,932			215				(118	)			164,029
Premises and equipment, net		4,358			(1,328	)	c		431		c		3,461
Bank owned life insurance		3,431			—				—				3,431
Core deposit intangible		—			1,519		d		—				1,519
Other real estate owned		325			(325	)	e		—				—
Other assets and accrued interest receivable		867			(36	)	f		—				831
Total assets acquired	$	192,401		$	68			$	313			$	192,782
Liabilities assumed:
Deposits
Non-interest bearing	$	24,939		$	—			$	—			$	24,939
Interest bearing		100,839			(252	)	g		—				100,587
Total deposits		125,778			(252	)			—				125,526
Federal funds purchased		1,566			—				—				1,566
Federal Home Loan Bank advances		43,718			(419	)	h		—				43,299
Subordinated Note		3,609			—				—				3,609
Holding Company line of credit		2,300			—				—				2,300
Other liabilities and accrued interest payable		313			—				—				313
Total liabilities assumed		177,284			(671	)			—				176,613
Net assets acquired	$	15,117		$	739			$	313			$	16,169
Cash consideration paid													(28,000	)
Goodwill												$	11,831