(dollars in thousands) William Penn Bancorporation Book Value 9/30/2024 Fair Value Adjustments William Penn Bancorporation Fair Value 9/30/2024 Total purchase price consideration ..................... $107,188 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . $ 26,239 $ — $ 26,239 Federal funds sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . 271 — 271 Investment securities held to maturity, at amortized cost ...................................... 86,835 (13,447) (3) 73,388 Investment securities available for sale, at fair value ..................................... 154,141 154,141 Equity securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,095 — 2,095 Loansgross ................................. 464,731 (26,160) (4) 438,571 Allowance for credit losses . . . . . . . . . . . . . . . . . . . . . (2,522) 1,593 (5) (929) Loans, net of allowance . . . . . . . . . . . . . . . . . . . . . . . . 462,209 (24,567) 437,642 Bank premises and equipment, net . . . . . . . . . . . . . . . 7,041 1,332 (6) 8,373 Operating lease right of use asset . . . . . . . . . . . . . . . . . 8,140 — 8,140 Cash surrender value of life insurance . . . . . . . . . . . . . 42,148 — 42,148 Restricted investment in bank stocks . . . . . . . . . . . . . . 2,690 — 2,690 Accrued interest receivable . . . . . . . . . . . . . . . . . . . . . 2,906 — 2,906 Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . 8,093 5,733 (7) 13,826 Core deposit intangible . . . . . . . . . . . . . . . . . . . . . . . . 323 10,825 (8) 11,148 Otherassets ................................. 4,240 — 4,240 Total identifiable assets acquired . . . . . . . . . . . . . 807,371 (20,124) 787,247 Deposits .................................... Noninterest-bearing demand . . . . . . . . . . . . . . . . . . . . 66,235 — 66,235 Interest-bearing transaction accounts . . . . . . . . . . . . . . 379,710 — 379,710 Time ....................................... 183,844 (1,102) (9) 182,742 Total deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . 629,789 (1,102) 628,687 Borrowings .................................. 40,597 — 40,597 Operating lease liability . . . . . . . . . . . . . . . . . . . . . . . . 8,411 — 8,411 Accrued interest payable . . . . . . . . . . . . . . . . . . . . . . . 69 — 69 Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,110 2,649 (10) 7,759 Total liabilities assumed . . . . . . . . . . . . . . . . . . . 683,976 1,547 685,523 Total identifiable net assets . . . . . . . . . . . . . . . . . 123,395 (21,671) 101,724 Goodwill ....................................... $ 5,464 31
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