Note 8 - Goodwill and Intangibles |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes to Financial Statements | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Text Block] | Note 8 – Goodwill and Intangibles Changes to the carrying amount of goodwill for the nine months ended September 30, 2016 are provided in the following table.
The adjustments to goodwill made during the nine months ended September 30, 2016 resulted from the recognition of liabilities that existed as of the date on which we acquired Reunion Bank of Florida but were not recorded. The adjustments were made following the Company’s review of additional information that existed at the time of acquisition that affected the recorded fair value of certain liabilities. Net of deferred taxes, the adjustment resulted in a $62,000 increase to the amount of goodwill initially recorded in our acquisition of Reunion Bank of Florida. The adjustment to goodwill had no impact on net income or shareholders’ equity of the Company for the first nine months of 2016. A summary of core deposit intangible assets as of September 30, 2016 and December 31, 2015 is as follows.
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