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MERGERS AND ACQUISITIONS - Unaudited Balance Sheet (Details) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2013
Liquidation Date, February 15, 2014 [Member]
Jun. 30, 2013
East Carolina Bancorp [Member]
Mar. 28, 2013
East Carolina Bancorp [Member]
Mar. 31, 2013
Preliminary Balance [Member]
Crescent Financial Bancshares [Member]
East Carolina Bancorp [Member]
Mar. 31, 2013
Initial Fair Value Adjustments [Member]
Crescent Financial Bancshares [Member]
East Carolina Bancorp [Member]
Mar. 31, 2013
Adjusted Balance [Member]
Crescent Financial Bancshares [Member]
East Carolina Bancorp [Member]
Business Acquisition [Line Items]              
Cash and cash equivalents         $ 24,008 $ 0 $ 24,008
Investment securities available for sale         289,058 301 [1] 289,359
Loans held for sale         3,857 9,790 [2] 13,647
Loans, net         483,474 (30,420) [3] 453,054
Federal Home Loan Bank stock, at cost         3,150 0 3,150
Premises and equipment, net         25,633 (1,177) [4] 24,456
Bank-owned life insurance         12,249 0 12,249
Foreclosed assets         7,090 (717) [5] 6,373
Deferred tax asset, net         6,986 9,082 [6] 16,068
Other intangible assets, net         0 4,307 [7] 4,307
Other assets         10,423 (665) [8] 9,758
Total assets         865,928 (9,499) 856,429
Deposits         731,926 4,188 [9] 736,114
Short-term borrowings         34,284 0 34,284
Long-term debt         16,000 460 [10] 16,460
Other liabilities         2,867 148 [11] 3,015
Total liabilities         785,077 4,796 789,873
Net assets acquired         80,851 (14,294) 66,557
Preferred stock         17,660 (107) [12] 17,553
Common stock warrant         878 (745) [12] 133
Total other equity interests         18,538 (852) 17,686
Gain on acquisition     8,241        
Purchase Price       $ 40,630      
Preferred stock, dividend rate (as a percentage) 5.00% 9.00%          
[1] Adjustment reflects opening fair value of securities portfolio, which was established as the new book basis of the portfolio.
[2] Adjustment reflect the reclassification of the fair value of certain loans identified by management as being held for sale at acquisition.
[3] Adjustment reflects the estimated lifetime credit losses on the loan portfolio as well as the present value of the differences between contractual interest rates and market interest rates as well as a reclassification of certain loans that were identified as held for sale at acquisition.
[4] Adjustment reflects fair value adjustments on certain acquired branch offices as well as certain software and computer equipment.
[5] Adjustment reflects the write down of certain foreclosed assets based on current estimates of property values given current market conditions and additional discounts based on the Company's planned disposition strategy.
[6] Adjustment reflects the tax impact of acquisition accounting fair value adjustments.
[7] Adjustment reflects the fair value of the acquired core deposit intangible.
[8] Adjustment reflects the impact of fair value adjustments on other assets, which include the write down of certain unusable prepaid expenses and the elimination of accrued interest on purchased credit-impaired loans.
[9] Adjustment reflects the fair value premium on time deposits, which was calculated by discounting future contractual interest payments at a current market interest rate.
[10] Adjustment reflects the fair value premium on FHLB advances, which was calculated by discounting future contractual interest payments at a current market interest rate. This fair value premium is also consistent with the prepayment penalty the FHLB would charge to terminate the advance.
[11] Adjustment reflects the impact of fair value adjustments on other liabilities, which primarily includes the accrual of a preferred stock dividend at acquisition.
[12] Amount reflects the adjustment to record other equity interests at fair value. The fair value of preferred stock issued to Treasury was estimated using by discounting future contractual dividend payments at a current market interest rate for preferred stocks of issuers with similar risk. The assumed liquidation date of the preferred stock was February 15, 2014, which is the date the dividend resets from 5 to 9 percent. The fair value of the common stock warrant issued to Treasury was estimated using a Black Scholes option pricing model assuming a warrant life through the dividend reset date.