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Business Combinations (Tables)
 3 Months Ended
Mar. 31, 2021
Business Combinations [Abstract]  
Schedule of Estimated Fair Vales of Assets and Liabilities Assumed The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the date of acquisition from SB One (in thousands):
At July 31, 2020
Assets acquired:
Cash and cash equivalents, net$78,089 
Available for sale debt securities231,645 
Held to maturity debt securities12,381 
Federal Home Loan Bank stock11,216 
Loans1,766,115 
Allowance for credit losses on PCD loans(13,586)
Loans, net1,752,529 
Bank-owned life insurance37,237 
Banking premises and equipment16,620 
Accrued interest receivable8,947 
Goodwill22,439 
Other intangibles assets9,965 
Foreclosed assets, net2,441 
Other assets12,199 
Total assets acquired$2,195,708 
Liabilities assumed:
Deposits$1,757,777 
Borrowed funds201,582 
Subordinated debentures25,074 
Other liabilities30,447 
Total liabilities assumed$2,014,880 
Net assets acquired$180,828 
Schedule of Fair Value of Loans Acquired in Acquisition
The table below illustrates the fair value adjustments made to the amortized cost basis in order to present a fair value of the loans acquired (in thousands):
Gross amortized cost basis at July 31, 2020$1,787,057 
Interest rate fair value adjustment on all loans455 
Credit fair value adjustment on non-PCD loans(21,397)
Fair value of acquired loans at July 31, 20201,766,115 
Allowance for credit losses on PCD loans(13,586)
Fair value of acquired loans, net at July 31, 2020$1,752,529 
The table below is a summary of the PCD loans accounted for in accordance with ASC 310-26 that were acquired in the SB One acquisition as of the closing date (in thousands):
Gross amortized cost basis at July 31, 2020$315,784 
Interest component of expected cash flows (accretable difference)(7,988)
Allowance for credit losses on PCD loans(13,586)
Net PCD loans$294,210 
The table below is a summary of the PCD loans accounted for in accordance with ASC 310-26 that were acquired in the SB One acquisition at the July 31, 2020 closing date (in thousands):
Gross amortized cost basis at July 31, 2020$315,784 
Interest component of expected cash flows (accretable difference)(7,988)
Fair value of PCD loans307,796 
Allowance for credit losses on PCD loans(13,586)
Net PCD loans$294,210