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Acquisitions (Tables) - Banc Ed
3 Months Ended
Mar. 31, 2020
Schedule of fair value estimates of assets acquired and liabilities assumed

The following table presents the estimated fair value of Banc Ed’s assets acquired and liabilities assumed as of January 31, 2019 (dollars in thousands):

Fair Value

Assets acquired:

  

Cash and cash equivalents

$

42,013

Securities

 

692,716

Loans held for sale

 

2,157

Portfolio loans

 

873,336

Premises and equipment

 

32,156

Other intangible assets

32,617

Mortgage servicing rights

 

6,946

Other assets

 

57,332

Total assets acquired

 

1,739,273

Liabilities assumed:

Deposits

 

1,439,203

Other borrowings

 

63,439

Other liabilities

 

20,153

Total liabilities assumed

 

1,522,795

Net assets acquired

$

216,478

Consideration paid:

Cash

$

91,400

Common stock

 

166,515

Total consideration paid

$

257,915

Goodwill

$

41,437

Schedule of unaudited pro forma results of operations for the acquisition

 

Pro Forma

Three Months Ended

March 31, 2019

Total revenues (net interest income plus non-interest income)

$

100,652

Net income

 

27,390

Diluted earnings per common share

 

0.49