Acquisition (Tables)

3 Months Ended

Mar. 31, 2025

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the net assets acquired (at fair value) and consideration transferred for HTLF

as of January 31, 2025 (in thousands, except for per share data):

	Fair Value January 31, 2025
Assets
Loans, net of allowance for credit losses on loans	$	9,757,790
Investment securities		3,678,164
Interest-bearing due from banks		965,003
Cash and due from banks		174,985
Premises and equipment, net		172,730
Identifiable intangible assets		511,021
Other assets		894,319
Total assets acquired	$	16,154,012
Liabilities
Noninterest-bearing deposits	$	3,761,997
Interest-bearing deposits		10,586,989
Long-term debt		278,018
Other liabilities		198,945
Total liabilities assumed	$	14,825,949
Net identifiable assets acquired	$	1,328,063
Preliminary goodwill		1,591,066
Net assets acquired	$	2,919,129
Consideration
Common stock consideration:
Company's common shares issued		23,609
Purchase price per share of the Company's common stock	$	117.90
Fair value of common stock consideration	$	2,783,510
Preferred stock consideration		115,230
Stock-based compensation consideration		20,389
Fair value of total consideration transferred	$	2,919,129

Summary of PCD Loans Purchased

The following table provides a summary of PCD loans purchased as part of the HTLF acquisition as of the Acquisition Date (in thousands):

	January 31, 2025
Principal of PCD loans acquired	$	3,237,332
PCD ACL at acquisition		(62,126	)
Non-credit discount on PCD loans		(128,684	)
Fair value of PCD Loans	$	3,046,522