Business Combinations (Tables)

3 Months Ended

Mar. 31, 2017

Retail Branch

Business Acquisition [Line Items]

Summary of Assets Acquired and Liabilities Assumed and Their Initial Fair Value Estimates

The following table presents the assets acquired and liabilities assumed as of March 11, 2016 and the initial fair value estimates (in thousands):

	Book Value		Fair Value Adjustment		Fair Value
Assets Acquired
Cash and cash equivalents	$	16,727	$	—	$	16,727
Loans	9		—		9
Other assets	15		—		15
Core deposit intangible	—		66		66
Total assets acquired	$	16,751	$	66	$	16,817
Liabilities Assumed
Deposits	$	16,953	$	4	$	16,957
Other liabilities	138		—		138
Total liabilities assumed	$	17,091	$	4	$	17,095
Goodwill					$	278

Cape Bancorp, Inc.

Business Acquisition [Line Items]

Summary of Assets Acquired and Liabilities Assumed and Their Initial Fair Value Estimates

The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the date of the acquisition for Cape, net of total consideration paid (in thousands):

	At May 2, 2016
(in thousands)	Cape Book Value			Purchase Accounting Adjustments			Estimated Fair Value
Total Purchase Price:							$	196,403
Assets acquired:
Cash and cash equivalents	$	30,025		$	—		$	30,025
Securities and Federal Home Loan Bank Stock	218,577			361			218,938
Loans:	1,169,568						1,156,807
Specific credit fair value on credit impaired loans	—			(5,859		)	—
General credit fair value	—			(20,545		)	—
Interest rate fair value	—			1,888			—
Reverse allowance for loan losses	—			9,931			—
Reverse net deferred fees, premiums and discounts	—			1,824			—
Premises and equipment	27,972			(1,973		)	25,999
Other real estate owned	2,343			(408		)	1,935
Deferred tax asset	9,407			8,072			17,479
Other assets	61,793			—			61,793
Core deposit intangible	831			2,887			3,718
Total assets acquired	1,520,516			(3,822		)	1,516,694
Liabilities assumed:
Deposits	(1,247,688		)	(679		)	(1,248,367		)
Borrowings	(123,587		)	(879		)	(124,466		)
Other liabilities	(7,611		)	(4,612		)	(12,223		)
Total liabilities assumed	(1,378,886		)	(6,170		)	(1,385,056		)
Net assets acquired	$	141,630		$	(9,992	)	131,638
Goodwill recorded in the merger							$	64,765

Ocean Shore Holdings Co.

Business Acquisition [Line Items]

Summary of Assets Acquired and Liabilities Assumed and Their Initial Fair Value Estimates

The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the date of the acquisition for Ocean Shore, net of total consideration paid (in thousands):

	At November 30, 2016
(in thousands)	Ocean Shore Book Value			Purchase Accounting Adjustments			Estimated Fair  Value
Total Purchase Price:							$	180,732
Assets acquired:
Cash and cash equivalents	$	60,871		$	—		$	60,871
Securities and Federal Home Loan Bank Stock	94,109			24			$	94,133
Loans:	790,396						774,046
Specific credit fair value on credit impaired loans	—			(2,062		)	—
General credit fair value	—			(8,127		)	—
Interest rate fair value	—			(5,779		)	—
Reverse allowance for loan losses	—			3,265			—
Reverse net deferred fees, premiums and discounts	—			(3,647		)	—
Premises and equipment	11,696			3,372			15,068
Other real estate owned	1,090			(67		)	1,023
Deferred tax asset	5,587			1,093			6,680
Other assets	35,369			(5		)	35,364
Core deposit intangible	348			7,158			7,506
Total assets acquired	999,466			(4,775		)	994,691
Liabilities assumed:
Deposits	(874,301		)	(772		)	(875,073		)
Borrowings	(3,694		)	—			(3,694		)
Other liabilities	(17,629		)	1,463			(16,166		)
Total liabilities assumed	(895,624		)	691			(894,933		)
Net assets acquired	$	103,842		$	(4,084	)	99,758
Goodwill recorded in the merger							$	80,974