Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] |
ASSETS |
|
|
|
|
LIABILITIES |
|
|
|
|
Cash and due from banks |
|
$ |
52,524 |
|
Deposits |
|
|
|
|
Investment securities, available for sale |
|
|
- |
|
Non-interest bearing |
|
$ |
32,095 |
|
Certificate of deposit in other financial institutions |
|
|
245 |
|
NOW accounts |
|
|
63,639 |
|
|
|
|
|
|
Savings and money market |
|
|
184,149 |
|
Total Loans |
|
|
450,757 |
|
Certificates of deposits |
|
|
195,153 |
|
|
|
|
|
|
Total Deposits |
|
|
475,036 |
|
Premises and equipment, net |
|
|
13,896 |
|
|
|
|
|
|
FHLB stock |
|
|
1,303 |
|
Interest payable |
|
|
75 |
|
Goodwill |
|
|
11,286 |
|
Other liabilities |
|
|
11,228 |
|
Core deposit intangible |
|
|
3,220 |
|
|
|
|
|
|
Interest receivable |
|
|
1,836 |
|
|
|
|
|
|
Other assets |
|
|
7,978 |
|
|
|
|
|
|
Total assets purchased |
|
$ |
543,045 |
|
|
|
|
|
|
Common shares issued |
|
|
37,981 |
|
|
|
|
|
|
Cash paid |
|
|
18,725 |
|
|
|
|
|
|
Total purchase price |
|
$ |
56,706 |
|
Total liabilities assumed |
|
$ |
486,339 |
|
|
Business Acquisition, Pro Forma Information [Table Text Block] |
|
|
For the three months ended |
|
|
For the three months ended |
|
|
For the six months ended |
|
|
For the six months ended |
|
(in thousands) |
|
June 30, 2023 |
|
|
June 30, 2022 |
|
|
June 30, 2023 |
|
|
June 30, 2022 |
|
Selected Financial Data |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
21,613 |
|
|
$ |
17,740 |
|
|
$ |
41,749 |
|
|
$ |
35,329 |
|
Interest expense |
|
|
(7,574 |
) |
|
|
(442 |
) |
|
|
(13,042 |
) |
|
|
(902 |
) |
Provision for loan losses |
|
|
(514 |
) |
|
|
- |
|
|
|
(1,002 |
) |
|
|
- |
|
Non-interest income |
|
|
3,006 |
|
|
|
2,896 |
|
|
|
5,614 |
|
|
|
6,179 |
|
Non-interest expense (1) |
|
|
(13,995 |
) |
|
|
(15,176 |
) |
|
|
(28,222 |
) |
|
|
(29,573 |
) |
Income before provision for income taxes |
|
|
2,536 |
|
|
|
5,018 |
|
|
|
5,097 |
|
|
|
11,033 |
|
Income tax expense |
|
|
(98 |
) |
|
|
(587 |
) |
|
|
(419 |
) |
|
|
(1,619 |
) |
Net income |
|
$ |
2,438 |
|
|
$ |
4,431 |
|
|
$ |
4,678 |
|
|
$ |
9,414 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.57 |
|
|
$ |
1.04 |
|
|
$ |
1.10 |
|
|
$ |
2.29 |
|
Diluted |
|
$ |
0.57 |
|
|
$ |
1.04 |
|
|
$ |
1.10 |
|
|
$ |
2.28 |
|
|