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Acquisitions (Tables)
12 Months Ended
Dec. 31, 2015
Acquisitions  
Unaudited Pro forma information

The unaudited pro forma information, for the year ended December 31, 2015 and 2014, set forth below reflects adjustments related to (a) purchase accounting fair value adjustments; (b) amortization of core deposit and other intangibles; and (c) adjustments to interest income and expense due to amortization of premiums and accretion of discounts. Patriot acquisition related expenses incurred in the year ended December 31, 2015 are assumed to have occurred prior to January 1, 2014. Furthermore, the unaudited pro forma information does not reflect management’s estimate of any revenue enhancement opportunities or anticipated potential cost savings.

 

 

 

 

 

 

 

 

 

 

Pro forma for the

 

 

Year Ended December 31,

 

    

2015

    

2014

 

 

(Dollars in thousands, except per share amounts)

 

 

 

 

 

 

 

Net interest income

 

$

132,396

 

$

113,325

Noninterest income

 

 

20,635

 

 

22,140

Noninterest expense

 

 

93,074

 

 

94,282

Net income

 

 

26,545

 

 

25,680

 

 

 

 

 

 

 

Pro forma earnings per share:

 

 

 

 

 

 

Basic

 

$

0.72

 

$

0.78

Diluted

 

 

0.72

 

 

0.77

 

Merger Related Costs By Acquisition

Merger related costs incurred are presented in the table below by acquisition.

 

 

 

 

 

 

 

 

 

    

2015

    

2014

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

Patriot Bancshares, Inc.

 

$

4,490

 

$

 -

SP Bancorp, Inc.

 

 

386

 

 

5,226

Total

 

$

4,876

 

$

5,226