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MERGERS AND ACQUISITIONS Piedmont Investment Balances (Details) (USD $)
Dec. 31, 2012
Dec. 31, 2011
Nov. 18, 2011
Preliminary Balance [Member]
Piedmont Investment and Successor Company [Member]
Nov. 18, 2011
Initial Fair Value Adjustments [Member]
Piedmont Investment and Successor Company [Member]
Nov. 18, 2011
Measurement Period Adjustment [Member]
Piedmont Investment and Successor Company [Member]
Nov. 18, 2011
Adjusted Balance [Member]
Piedmont Investment and Successor Company [Member]
Fair value of assets acquired:            
Cash and cash equivalents     $ 151,126,000 $ 75,000,000 [1] $ 0 $ 226,126,000
Investment securities available for sale 136,311,000 169,583,000 89,343,000 0 0 89,343,000
Loans held for sale     4,588,000 0 0 4,588,000
Loans     582,089,000 (20,177,000) [2] (1,485,000) [3] 560,427,000
Federal Home Loan Bank stock     8,669,000 0 0 8,669,000
Premises and equipment     10,866,000 (540,000) [4] 0 10,326,000
Deferred tax asset, net 36,659,000 33,935,000 8,929,000 21,339,000 [5] 1,782,000 [3] 32,050,000
Bank owned life insurance     19,169,000 0 0 19,169,000
Foreclosed assets     12,361,000 (3,033,000) [6] (405,000) [3] 8,923,000
Goodwill     0 20,015,000 [7] 3,095,000 [3] 23,110,000
Other intangible assets     576,000 1,685,000 [8] 0 2,261,000
Accrued interest receivable and other assets     12,471,000 (1,125,000) [9] (1,182,000) [3] 10,164,000
Total assets acquired     900,187,000 93,164,000 1,805,000 995,156,000
Fair Value of Liabilities Assumed [Abstract]            
Deposits     672,195,000 6,094,000 [10] 0 678,289,000
Short-term borrowings and long-term debt     157,748,000 7,053,000 [11] 0 164,801,000
Accrued interest payable and other liabilities     6,637,000 474,000 [12] 1,805,000 [3] 8,916,000
Total liabilities assumed     836,580,000 13,621,000 1,805,000 852,006,000
Net assets     63,607,000 79,543,000 0 143,150,000
Non-controlling Interests at Fair Value [Abstract]            
Preferred stock     23,812,000 597,000 [13] 0 24,409,000
Common stock warrants     2,367,000 (1,042,000) [13] 0 1,325,000
Common stock     0 42,416,000 [13] 0 42,416,000
Total non-controlling interests     26,179,000 41,971,000 0 68,150,000
Purchase price           $ 75,000,000
[1] Adjustment to cash reflects Piedmont's initial investment in Crescent Financial.
[2] After analyzing estimated lifetime credit losses on the loan portfolio as well as evaluating differences between contractual interest rates and current market interest rates, the initial net loan fair value discount, after eliminating the allowance for loan losses, was $20,177.
[3] During the Crescent Financial measurement period, goodwill increased by $3,095 as a result of adjustments to refine the Company’s acquisition date estimate of market rent on two branch leases, adjustments to refine the valuation of certain foreclosed assets, adjustments to the fair value of the split-dollar liability on certain bank-owned life insurance policies, and adjustments to refine cash flow estimates used to value certain loans.
[4] Premises and equipment was adjusted by $540 to reduce the value of certain properties to estimated fair value.
[5] The net deferred tax asset was primarily related to the recognition of differences between certain tax and book bases of assets and liabilities related to purchase accounting along with federal and state net operating losses that were expected to be realizable after acquisition.
[6] Foreclosed assets were reduced by $3,033 based on estimates of property values under market conditions at acquisition as well as additional discounts anticipated to liquidate these properties.
[7] Goodwill represents the excess of purchase price over the fair value of acquired net assets and the fair value of non-controlling interests.
[8] The adjustment for other intangibles reflected the estimated value of the acquired core deposit intangible ("CDI"). CDI is the present value of the difference between a market participant's cost of obtaining alternative funds and the cost to maintain the acquired deposit base.
[9] Adjustments to other assets represent the elimination of certain deferred items and other adjustments required to reflect the estimated fair values of other assets at acquisition.
[10] The fair value adjustment to deposits of $6,094 reflected an estimated time deposit premium, indicating that, in aggregate, then current market rates were lower than contractual rates.
[11] The fair value adjustments to borrowings reflected the estimated premium on FHLB borrowings at acquisition.
[12] Adjustments to other liabilities represent the fair value adjustments to deferred rent on leases.
[13] Adjustments to non-controlling interest reflected the market value of common stock not purchased by Piedmont and the fair value adjustments to preferred stock at acquisition