Business Combinations (Tables) - Focus Business Bank

6 Months Ended

Jun. 30, 2016

Business Combinations

Summary of the estimated fair values of the assets acquired and liabilities assumed

	(Dollars in thousands)
Assets acquired:
Cash and cash item	$	5,651
Federal funds sold and deposits in other financial institutions		168,415
Securities available-for-sale		53,940
Securities held-to-maturity		8,665
Loans held-for-sale		4,416
Net loans		170,353
Goodwill		32,620
Core deposit intangible asset		6,285
Corporate owned life insurance		7,067
Other assets, net		20,250
Total assets acquired		477,662
Liabilities asssumed:
Deposits		405,123
Other liabilities		5,981
Total liabilities		411,104
Net assets acquired	$	66,558

Summary of consideration paid

	August 20, 2015
	(Dollars in thousands)
Cash paid for Focus in-the-money stock options	$	8,280
Common stock issued to Focus shareholders at $10.68 per share		58,278
Total consideration	$	66,558

Schedule of unaudited pro forma combined consolidated financial statements and related adjustments

UNAUDITED	Three Months Ended June 30, 2015		Six Months Ended June 30, 2015
	(Dollars in thousands, except per share amounts)
Net interest income	$	20,665	$	40,757
Provision for loan losses		22		12
Noninterest income		2,603		5,705
Noninterest expense		14,917		30,335
Income before income taxes		8,329		16,115
Income tax expense		3,203		6,126
Net income	$	5,126	$	9,989
Net income per share—basic	$	0.14	$	0.27
Net income per share—diluted	$	0.13	$	0.26