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 |
|
|
11,506 |
|
Other liabilities |
|
|
11,228 |
|
Core deposit intangible |
|
|
3,220 |
|
|
|
|
|
|
Interest receivable |
|
|
1,836 |
|
|
|
|
|
|
Other assets |
|
|
7,758 |
|
|
|
|
|
|
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 nine months ended |
|
|
For the nine months ended |
|
(in thousands) |
|
September 30, 2022 |
|
|
September 30, 2021 |
|
|
September 30, 2022 |
|
|
September 30, 2021 |
|
Selected Financial Data |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
18,539 |
|
|
$ |
17,939 |
|
|
$ |
53,868 |
|
|
$ |
52,593 |
|
Interest expense |
|
|
(1,032 |
) |
|
|
(838 |
) |
|
|
(1,934 |
) |
|
|
(3,027 |
) |
Recovery of (provision for) loan losses |
|
|
- |
|
|
|
(14 |
) |
|
|
- |
|
|
|
(1,108 |
) |
Non-interest income |
|
|
2,630 |
|
|
|
4,376 |
|
|
|
8,809 |
|
|
|
12,794 |
|
Non-interest expense (1) |
|
|
(15,010 |
) |
|
|
(15,559 |
) |
|
|
(44,583 |
) |
|
|
(42,335 |
) |
Income before provision for income taxes |
|
|
5,127 |
|
|
|
5,904 |
|
|
|
16,160 |
|
|
|
18,917 |
|
Income tax expense |
|
|
(571 |
) |
|
|
(866 |
) |
|
|
(2,190 |
) |
|
|
(2,678 |
) |
Net income |
|
$ |
4,556 |
|
|
$ |
5,038 |
|
|
$ |
13,970 |
|
|
$ |
16,239 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
1.07 |
|
|
$ |
1.45 |
|
|
$ |
3.36 |
|
|
$ |
4.67 |
|
Diluted |
|
$ |
1.07 |
|
|
$ |
1.45 |
|
|
$ |
3.35 |
|
|
$ |
4.67 |
|
|