Business Combinations (Tables)

9 Months Ended

Sep. 30, 2022

Business Combinations

Schedule of purchased assets and assumed liabilities recorded at their respective acquisition date estimate fair values

	As recorded by		Preliminary Fair Value		As recorded by
(dollars in thousands)	Metro Phoenix Bank		Adjustments		the Company
Assets
Cash and cash equivalents	$	101,819	$	(45)	$	101,774
Fed funds sold		18,936		—		18,936
Core deposit intangible		—		7,592		7,592
Loans		273,843		(3,440)		270,403
Accrued interest receivable		1,091		—		1,091
Other assets		3,342		517		3,859
Total assets		399,031		4,624		403,655
Liabilities
Deposits		354,529		(844)		353,685
Other liabilities		673		—		673
Total liabilities		355,202		(844)		354,358
Excess assets over liabilities	$	43,829	$	5,468		49,297
Stock issued for MPB						64,019
Total goodwill recorded					$	14,722