Business Combination and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2018

Business Combinations [Abstract]

Assets acquired and liabilities assumed recognized at the acquisition date

(dollars in thousands)	As Recorded by County First	Fair Value and Other Merger Related Adjustments	As Recorded by the Company
Consideration Paid
Cash			$                          2,122
Common shares issued			35,620
Fair Value of Total Consideration Transferred			$                        37,742
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents	$                        34,409	$                                 -	$                        34,409
Securities	38,861	(659)	38,202
Loans, net of allowance	142,404	(1,654)	140,750
Premises and equipment	2,980	181	3,161
Core deposit intangibles	-	3,590	3,590
Interest receivable	513	(12)	501
Bank owned life insurance	6,275	-	6,275
Deferred tax asset	639	(426)	213
Other assets	586	-	586
Total assets acquired	$                      226,667	$                          1,020	$                      227,687
Deposits	$                      199,210	$                              18	$                      199,228
Other liabilities	1,449	103	1,552
Total liabilities assumed	$                      200,659	$                            121	$                      200,780
Net identifiable assets acquired	$                        26,008	$                            899	$                        26,907
Goodwill resulting from acquisition			$                        10,835

Schedule of estimated amortization expense

Estimated amortization expense for each of the next five years:
	(dollars in thousands)
	2019	$               688
	2020	591
	2021	495
	2022	398
	2023	302
		$             2,474

Schedule of acquired intangible assets

	As of December 31, 2018			As of December 31, 2017
(dollars in thousands)	Gross Carrying Amount	Accumulated Amortization	Net Intangible Asset	Gross Carrying Amount	Accumulated Amortization	Net Intangible Asset
Core deposit intangibles	$                   3,590	$              (784)	$              2,806	$                          -	$                    -	$                     -

Proforma Results

Proforma Results for the Years Ended December 31, 2017
(dollars in thousands, except per share amounts)	The Community Financial Corporation Actual	County First Actual	Proforma December, 2017	Actual Results Year Ended December 31, 2018
Total revenues (net interest income    plus noninterest income)	$                         47,429	$            8,812	$                    56,241	$                       54,955
Net income	7,208	926	8,134	11,228
Basic earnings per common share	$                             1.56	$             1.01	$                        1.47	$                           2.02