v3.26.1
Note 2 - Business Combinations (Tables)
 12 Months Ended
Dec. 31, 2025
Notes Tables  
Business Combination, Recognized Asset Acquired and Liability Assumed [Table Text Block]

(in thousands, Except Share and Per Share Data)

 

As Initially Reported

  

Measurement Period Adjustments

  

As Adjusted

 

Purchase Price Consideration

                        

Mifflinburg Bancorp, Inc. shares to be issued

  1,546,725               1,546,725     

Per share value assigned to shares issued

 $26.00              $26.00     

Total purchase price assigned to shares issued

     $40,215              $40,215 

Cash in lieu of fractional shares

      3               3 

Dissenter's shares (1)

  6,493       6,493       6,493     

Fair value of Dissenter's shares

 $28.80      $6.47      $35.27     

Total fair value of Dissenter's shares

      187       42       229 

Fair value of total consideration transferred

     $40,405      $42      $40,447 
                         
                         

Recognized amounts of identifiable assets acquired and liabilities assumed, at fair value

                        

Cash and cash equivalents

 $43,589      $-      $43,589     

Securities, available for sale

  165,660       -       165,660     

Loans held for sale

  61       -       61     

Loans gross

  427,066       104       427,170     

Allowance for credit losses

  (725)      -       (725)    

Loans, net of allowance

  426,341       104       426,445     
                         

Bank owned life insurance

  14,848       -       14,848     

Premises

  9,226       -       9,226     

Furniture, fixtures and equipment

  515       -       515     

Accrued interest receivable

  2,261       -       2,261     

Restricted investment in bank stock

  2,948       -       2,948     

Deferred tax asset

  2,849       38       2,887     

Core deposit intangible

  14,662       -       14,662     

Customer list intangibles

  1,406       -       1,406     

Operating lease right of use asset

  132       -       132     

Other assets

  3,679       (398)      3,281     

Total identifiable assets acquired at fair value

 $688,177      $(256)     $687,921     
                         

Deposits

 $597,060      $-      $597,060     

Borrowings

  20,117       -       20,117     

Subordinated debt

  9,753       -       9,753     

Accrued interest payable

  554       -       554     

Operating lease liability

  132       -       132     

Reserve for unfunded commitments

  652       (652)      -     

Other liabilities

  1,677       (122)      1,555     

Total liabilities assumed

 $629,945      $(774)     $629,171     

Total identifiable net assets, at fair value

     $58,232      $518      $58,750 

Preliminary bargain purchase gain

     $17,827      $476      $18,303 
Business Combination, Pro Forma Information, Nonrecurring Adjustment [Table Text Block]

Loans (1)

 $2,375 

Buildings (2)

  (33)

Core deposit intangible (3)

  (1,111)

Subordinated debt (4)

  (139)

Time Deposits (5)

  (331)

Wealth management customer list intangible (6)

  (107)

Mortgage servicing rights (7)

  (92)

Leased building (8)

  13 
     

Net impact to income before taxes

 $575 
Northumberland Bancorp [Member]  
Notes Tables  
Debt Securities, Available-for-Sale [Table Text Block]

August 1, 2025

        

(Dollars in Thousands)

 

PCD Loans

  

Non-PCD Loans

 

Number of loans

  379   4,101 

NUBC recorded value

 $53,676  $392,745 

Discount for credit risk

  (194)  (4,474)

Discount for non-credit factors

  (1,238)  (13,396)

Fair value - initially reported

 $52,244  $374,875 

Measurement period adjustments

 $1  $103 

Fair value - adjusted

 $52,245  $374,978