Acquisitions (Tables)

9 Months Ended

Sep. 30, 2013

Acquisitions

Summary of the net assets received from the FDIC and the estimated fair value adjustments resulting in the bargain purchase gain

A summary of the net assets received from the FDIC and the estimated fair value adjustments resulting in the bargain purchase gain are presented below (in thousands).

Cost basis net assets on September 13, 2013	$	182,169
Cash payment received from the FDIC	45,000
Fair value adjustments:
Securities	(3,341		)
Loans	(337,572		)
Premises and equipment	(1,358		)
Other real estate owned	(69,456		)
FDIC indemnification asset	189,773
Other intangible assets	6,380
Deposits	(8,282		)
Other	(42		)
Bargain purchase gain	$	3,271

Summary of fair values of the identifiable assets acquired, and liabilities assumed

The resulting fair values of the identifiable assets acquired, and liabilities assumed, of FNB at September 13, 2013 are summarized in the following table (in thousands).

Cash and due from banks	$	362,695
Securities	286,214
Non-covered loans	45,915
Covered loans	1,105,421
Premises and equipment	71,806
FDIC indemnification asset	189,773
Covered other real estate owned	120,985
Other assets	39,709
Other intangible assets	6,380
Total identifiable assets acquired	2,228,898
Deposits	(2,211,740		)
Other liabilities	(13,887		)
Total liabilities assumed	(2,225,627		)
Net identifiable assets acquired/bargain purchase gain	$	3,271

Schedule of loans acquired in business combination

The following table presents preliminary details on acquired loans at the Bank Closing Date (in thousands).

	Acquired		PCI		Total
	Performing		Loans		Loans
Commercial and industrial	$	44,207	$	50,705	$	94,912
Real estate	245,746		595,732		841,478
Construction and land development	38,135		151,803		189,938
Consumer	15,800		9,208		25,008
Total	$	343,888	$	807,448	$	1,151,336

Plains Capital

Acquisitions

Schedule of pro forma results

The following table presents pro forma results for the three and nine months ended September 30, 2012 had the PlainsCapital Merger taken place on January 1, 2011 (in thousands).

	Three Months Ended		Nine Months Ended
	September 30, 2012		September 30, 2012
Net interest income	$	57,212	$	164,980
Other revenues	247,764		641,201
Net income	33,764		72,494

Bank | FNB | PCI loans

Acquisitions

Schedule of information about the loans at Bank Closing Date

The following table presents information about the acquired PCI loans at the Bank Closing Date (in thousands).

Contractually required principal and interest payments	$	1,605,634
Nonaccretable difference	567,861
Cash flows expected to be collected	1,037,773
Accretable difference	230,325
Fair value of covered loans acquired with a deterioration of credit quality	$	807,448

Bank | FNB | Acquired performing loans

Acquisitions

Schedule of information about the loans at Bank Closing Date

The following table presents information about the acquired performing loans at the Bank Closing Date (in thousands).

Contractually required principal and interest payments	$	555,057
Contractual cash flows not expected to be collected	50,216
Fair value at acquisition	343,888