v3.22.4
Note 21 - Business Acquisition (Tables)
12 Months Ended
Dec. 31, 2022
Notes Tables  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]

(In Thousands, Except Per Share Data)

        

Purchase Price Consideration in Common Stock

        

Middlefield Banc Corp. shares issued

  2,561,513     

Value assigned to Middlefield Banc Corp. common shares

 $28.60     

Purchase price assigned to Liberty common shares exchanged for

      73,259 

Purchase Price Consideration in Cash

        

Cash paid in lieu of fractional shares

      6 

Total Purchase Price

      73,265 

Net Assets Acquired:

        

Liberty shareholders equity

 $49,041     

Adjustments to reflect assets acquired at fair value:

        

Loans

        

Allowance for loan loss

  4,497     

Loans - interest rate

  646     

Loans - general credit

  (3,433)    

Core deposit intangible

  6,669     

Investments

  (1,461)    

Mortgage servicing rights

  830     

Other

  94     

Adjustments to reflect liabilities acquired at fair value:

        

Time deposits

  (228)    

Deferred taxes

  (54)    

Total net assets acquired

      56,601 

Goodwill resulting from merger

     $16,664 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

(In Thousands)

        

Total purchase price

     $73,265 

Assets (liabilities) acquired:

        

Net assets acquired:

        

Cash

  18,406     

Loans and loans held for sale

  312,618     

Investments

  57,907     

Premises and equipment, net

  6,087     

Accrued interest receivable

  1,563     

Bank-owned life insurance

  16,290     

Core deposit intangible

  6,670     

Mortgage servicing rights

  1,680     

Other assets

  3,111     

Time deposits

  (69,278)    

Non-time deposits

  (294,684)    

Accrued interest payable

  (246)    

Other liabilities

  (3,523)    

Total net assets acquired

      56,601 

Goodwill resulting from the Liberty merger

     $16,664 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

(Dollar amounts in thousands)

 

Remaining     2023

 $1,059 

2024

  1,031 

2025

  998 

2026

  968 

2027

  691 

Thereafter

  2,954 

Total

 $7,701 
Business Acquisition, Pro Forma Information [Table Text Block]
  

Actual from Acquisition Date

Through December 31, 2022

 
  

(in thousands)

 
     

Net interest income

 $1,366 

Noninterest income

 $117 

Net income

 $867 
  

Pro Formas

 
  

Twelve-month period ended December 31,

 
  

2022

  

2021

 
  

(in thousands, except per share data)

 
         

Net interest income

 $63,277  $63,770 

Noninterest income

  10,151   9,779 

Net income

 $21,142  $16,297 

Pro forma earnings per share:

        

Basic

 $3.51  $1.86 

Diluted

 $3.50  $1.86 
Liberty Bancshares Inc [Member]  
Notes Tables  
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

(In Thousands)

    

Remaining 2023

 $763 

2024

  750 

2025

  734 

2026

  714 

2027

  691 

Thereafter

  2,954 
  $6,606