Acquisitions (Tables)

9 Months Ended

Sep. 30, 2015

Business Acquisition [Line Items]

Business Combination Disclosure [Text Block]

The following table summarizes the consideration paid, fair values of the Absarokee assets acquired and liabilities assumed and the resulting goodwill. All amounts reported are provisional pending completion of management review.

	As Recorded			Fair Value				As Recorded
As of July 24, 2015	by Absarokee			Adjustments				by the Company
Assets acquired:
Cash and cash equivalents	$	5,598		$	—			$	5,598
Investment securities	27,574			—				27,574
Loans	37,520			(876		)	(1)	36,644
Allowance for loan losses	(899		)	899			(2)	—
Premises and equipment	2,851			277			(3)	3,128
Core deposit intangible assets	—			695			(4)	695
Other assets	816			82			(5)	898
Total assets acquired	73,460			1,077				74,537
Liabilities assumed:
Deposits	63,565			—				63,565
Repurchase agreements	2,000			—				2,000
Long term debt	1,222			31			(6)	1,253
Other liabilities	79			440			(7)	519
Total liabilities assumed	66,866			471				67,337
Net assets acquired	$	6,594		$	606			7,200
Cash consideration paid								7,234
Goodwill								$	34

Explanation of fair value adjustments:
(1)	Write down of the book value of loans to their estimated fair values. The fair value of loans was estimated using cash flow projections based on the remaining maturity and repricing terms, adjusted for estimated future credit losses and prepayments and discounted to present value using a risk-adjusted market rate for similar loans.
(2)	Adjustment to remove the Absarokee allowance for loan losses at acquisition date as the credit risk is accounted for in the fair value adjustment for loans receivable described in (1) above.
(3)	Write up of the book value of premises and equipment to their estimated fair values based upon fair value estimates developed internally based upon comparable in-market transactions.
(4)	Adjustment represents the value of the core deposit base assumed in the acquisition based upon an internal valuation based on analysis of recent acquisitions.
(5)	Adjustment consists of a reduction in the value of accrued interest receivable, the write-off of pre-existing goodwill and recording the value of mortgage servicing assets acquired.
(6)	Adjustment represents increase in the book value of a Federal Home Loan Bank borrowing to its estimated fair market value based upon interest interest rates of similar advances with similar characteristics on the date of acquisition.
(7)	Adjustment represents the net deferred tax liability resulting from fair value adjustments related to acquired assets, assumed liabilities, core deposit intangible assets and other purchase accounting adjustments.