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MERGERS AND ACQUISITIOINS - Balance Sheet - Yadkin (Details) (USD $)
0 Months Ended 0 Months Ended 9 Months Ended
Sep. 30, 2014
Dec. 31, 2013
Jul. 04, 2014
Yadkin Financial Corporation [Member]
Jul. 04, 2014
Yadkin Financial Corporation [Member]
Jul. 04, 2014
Scenario, Previously Reported [Member]
Yadkin Financial Corporation [Member]
Jul. 04, 2014
Initial Fair Value Adjustments [Member]
Yadkin Financial Corporation [Member]
Jul. 04, 2014
Initial Fair Value Adjustments [Member]
Yadkin Financial Corporation [Member]
Sep. 30, 2014
Common Stock Warrants
Initial Fair Value Adjustments [Member]
Yadkin Financial Corporation [Member]
Business Acquisition [Line Items]                
Cash and cash equivalents $ 59,837,000 $ 29,081,000 [1]   $ 36,116,000 $ 36,116,000   $ 0  
Investment securities available for sale 694,993,000 404,388,000 [1]   257,655,000 259,143,000   (1,488,000) [2]  
Loans held for sale       15,696,000 15,696,000   0 [3]  
Loans, net 2,819,785,000 1,385,790,000   1,372,679,000 1,403,419,000   (30,740,000)  
Federal Home Loan Bank stock, at cost       3,778,000 3,778,000   0  
Premises and equipment       37,860,000 40,204,000   (2,344,000) [4]  
Bank-owned life insurance       27,306,000 27,306,000   0  
Foreclosed assets 11,078,000 10,518,000 [1]   1,670,000 2,271,000   (601,000) [5]  
Deferred tax asset, net 72,919,000 54,867,000 [1]   22,894,000 16,955,000   5,939,000 [6]  
Goodwill 150,426,000 26,254,000 [1]   124,172,000 0   124,172,000 [7]  
Other intangible assets       12,630,000 1,665,000   10,965,000 [8]  
Accrued interest receivable and other assets 77,147,000 38,118,000 [1]   14,101,000 16,330,000   (2,229,000) [9]  
Total assets 4,178,595,000 2,122,713,000 [1]   1,926,557,000 1,822,883,000   103,674,000  
Deposits 3,184,939,000 1,672,231,000   1,514,600,000 1,509,581,000   5,019,000 [10]  
Short-term borrowings 216,500,000 126,500,000 [1]   72,879,000 72,879,000   0  
Long-term debt 210,154,000 72,921,000 [1]   22,731,000 38,217,000   (15,486,000) [11]  
Accrued interest payable and other liabilities 24,672,000 13,002,000 [1]   8,110,000 8,448,000   (338,000) [12]  
Total liabilities 3,636,265,000 1,884,654,000 [1]   1,618,320,000 1,629,125,000   (10,805,000)  
Net assets acquired       308,237,000 193,758,000   114,479,000  
Preferred stock 28,405,000 0 [1]   28,405,000 28,405,000   0 [13]  
Common stock warrants 717,000 0 [1]   717,000 1,850,000   (1,133,000) [14]  
Total other equity interests       29,122,000 30,255,000   (1,133,000)  
Purchase price     279,115,000          
Allowance loan losses             16,400,000  
Fair value discount             (47,200,000)  
Preferred stock, dividend rate (as a percentage)           9.00%    
Number of warrants outstanding (in shares)               91,178
Volatility (as a percent)               48.60%
Expected dividends               $ 0
Risk free interest rate (as a percent)               1.74%
Exercise price (in dollars per share)               $ 21.9
[1] Derived from the audited consolidated financial statements of Piedmont Community Bank Holdings, Inc., which was the Company's accounting predecessor.
[2] Adjustment reflects opening fair value of securities portfolio, which was established as the new book basis of the portfolio.
[3] Adjustment reflects the elimination of Yadkin's historical allowance for loan losses of $16.4 million and the recording of a fair value discount of $47.2 million on the loan portfolio. The fair value discount was calculated by forecasting cash flows over the expected remaining life of each loan and discounting those cash flows to present value using current market rates for similar loans. Forecasted cash flows include an estimate of lifetime credit losses on the loan portfolio.
[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] Goodwill represents the excess of the purchase price over the fair value of acquired net assets.
[8] Adjustment reflects the fair value of the acquired core deposit intangible.
[9] Adjustment reflects the impact of fair value adjustments on other assets, which include mortgage servicing assets, certain unusable prepaid expenses, and the elimination of accrued interest on purchased credit-impaired loans.
[10] Adjustment reflects the fair value premium on time deposits, which was calculated by discounting future contractual interest payments at a current market interest rate.
[11] Adjustments reflect the fair value adjustments for subordinated debt issued to fund trust preferred securities and long-term Federal Home Loan Bank ("FHLB") advances, which were calculated by discounting future contractual interest payments at a current market interest rate for similar instruments. For FHLB advances, the fair value adjustment is consistent with the prepayment penalty the FHLB would charge to terminate the advance.
[12] Adjustments reflect accruals and fair value adjustments for other liabilities, which include the write-off of unearned income, deferred gains, and accrued liabilities that will not be paid.
[13] No fair value adjustments were made to Yadkin's outstanding preferred stock. The current preferred dividend rate of 9.0 percent approximates the current market yield for issuances of similar perpetual preferred stock. The preferred stock is currently redeemable at the liquidation value, and the Company expects the remaining life of this preferred stock to be relatively short.
[14] The fair value of the common stock warrants was estimated using a Black-Scholes option pricing model assuming all 91,178 warrants will remain outstanding through expiration on July 24, 2019. Assumptions and inputs used in the option pricing model included stock price volatility of 48.6 percent, no dividends, a risk free interest rate of 1.74 percent, and an exercise price of $21.90 per common warrant.