XML 47 R35.htm IDEA: XBRL DOCUMENT v3.4.0.3
BUSINESS COMBINATIONS (Details) - USD ($)
$ / shares in Units, $ in Thousands
1 Months Ended 3 Months Ended
Mar. 11, 2016
Jun. 12, 2015
May. 22, 2015
Mar. 31, 2016
Dec. 31, 2015
Mar. 31, 2015
Deposits:            
Federal funds purchased and securities sold under agreements to repurchase       $ 5,100    
Goodwill       121,512 $ 90,082 $ 63,547
Bank Of America [Member]            
Assets            
Cash and cash equivalents   $ 630,220        
Loans   4,363        
Premises and equipment   10,348        
Intangible assets   0        
Other assets   126        
Total assets   645,057        
Deposits:            
Noninterest-bearing   149,854        
Interest-bearing   495,110        
Total deposits   644,964        
Other liabilities   93        
Total liabilities   645,057        
Net identifiable assets acquired over (under) liabilities assumed   0        
Goodwill   0        
Net assets acquired over (under) liabilities assumed   0        
Consideration:            
Cash exchanged for shares   20,000        
Cash paid as deposit premium   20,002        
Fair value of total consideration transferred   20,002        
Bank Of America [Member] | Subsequent Fair Value Adjustments [Member]            
Assets            
Cash and cash equivalents   0        
Loans [1]   (364)        
Premises and equipment [2]   (755)        
Intangible assets   985        
Other assets   0        
Total assets   (134)        
Deposits:            
Noninterest-bearing   0        
Interest-bearing   0        
Total deposits   0        
Other liabilities   0        
Total liabilities   0        
Net identifiable assets acquired over (under) liabilities assumed   (134)        
Goodwill   134        
Net assets acquired over (under) liabilities assumed   0        
Bank Of America [Member] | Initial Fair Value Adjustments [Member]            
Assets            
Cash and cash equivalents   0        
Loans   0        
Premises and equipment [3]   1,060        
Intangible assets [4]   7,651        
Total assets   8,711        
Deposits:            
Noninterest-bearing   0        
Interest-bearing [1]   (215)        
Total deposits   (215)        
Other liabilities   0        
Total liabilities   (215)        
Net identifiable assets acquired over (under) liabilities assumed   8,926        
Goodwill   11,076        
Net assets acquired over (under) liabilities assumed   20,002        
Bank Of America [Member] | As Recorded by Acquired Bank [Member]            
Assets            
Cash and cash equivalents   630,220        
Loans   3,999        
Premises and equipment   10,653        
Intangible assets   8,636        
Other assets   126        
Total assets   653,634        
Deposits:            
Noninterest-bearing   149,854        
Interest-bearing   494,895        
Total deposits   644,749        
Other liabilities   93        
Total liabilities   644,842        
Net identifiable assets acquired over (under) liabilities assumed   8,792        
Goodwill   11,210        
Net assets acquired over (under) liabilities assumed   $ 20,002        
Merchants and Southern Banks of Florida [Member]            
Assets            
Cash and cash equivalents     $ 7,527      
Federal funds sold and interest-bearing balances     106,188      
Investment securities     164,421      
Other investments     872      
Loans     199,955      
Less allowance for loan losses     (3,354)      
Loans, net     196,601      
Other real estate owned     4,082      
Premises and equipment     14,614      
Intangible assets     0      
Other assets     2,333      
Total assets     496,638      
Deposits:            
Noninterest-bearing     121,708      
Interest-bearing     286,112      
Total deposits     407,820      
Federal funds purchased and securities sold under agreements to repurchase     41,588      
Other liabilities     2,151      
Subordinated deferrable interest debentures     6,186      
Total liabilities     457,745      
Net identifiable assets acquired over (under) liabilities assumed     38,893      
Goodwill     0      
Net assets acquired over (under) liabilities assumed     38,893      
Consideration:            
Cash exchanged for shares     50,000      
Fair value of total consideration transferred     50,000      
Merchants and Southern Banks of Florida [Member] | Subsequent Fair Value Adjustments [Member]            
Assets            
Cash and cash equivalents     0      
Federal funds sold and interest-bearing balances     0      
Investment securities [5]     (639)      
Other investments [6]     (253)      
Loans     0      
Less allowance for loan losses     0      
Loans, net     0      
Other real estate owned     0      
Premises and equipment     0      
Intangible assets [7]     (634)      
Other assets [8]     (1,109)      
Total assets     (2,635)      
Deposits:            
Noninterest-bearing     0      
Interest-bearing [9]     41,588      
Total deposits     0      
Federal funds purchased and securities sold under agreements to repurchase [9]     (41,588)      
Other liabilities     0      
Subordinated deferrable interest debentures     0      
Total liabilities     0      
Net identifiable assets acquired over (under) liabilities assumed     (2,635)      
Goodwill     2,635      
Net assets acquired over (under) liabilities assumed     0      
Merchants and Southern Banks of Florida [Member] | Initial Fair Value Adjustments [Member]            
Assets            
Cash and cash equivalents     0      
Federal funds sold and interest-bearing balances     0      
Investment securities [10]     (553)      
Other investments     0      
Loans [11]     (8,500)      
Less allowance for loan losses [12]     3,354      
Loans, net     (5,146)      
Other real estate owned [13]     (1,115)      
Premises and equipment [14]     (3,680)      
Intangible assets [4]     4,577      
Other assets [15]     2,335      
Total assets     (3,582)      
Deposits:            
Noninterest-bearing     0      
Interest-bearing     0      
Total deposits     0      
Federal funds purchased and securities sold under agreements to repurchase     0      
Other liabilities [16]     81      
Subordinated deferrable interest debentures [17]     (2,680)      
Total liabilities     (2,599)      
Net identifiable assets acquired over (under) liabilities assumed     (983)      
Goodwill     12,090      
Net assets acquired over (under) liabilities assumed     11,107      
Merchants and Southern Banks of Florida [Member] | As Recorded by Acquired Bank [Member]            
Assets            
Cash and cash equivalents     7,527      
Federal funds sold and interest-bearing balances     106,188      
Investment securities     163,229      
Other investments     619      
Loans     191,455      
Less allowance for loan losses     0      
Loans, net     191,455      
Other real estate owned     2,967      
Premises and equipment     10,934      
Intangible assets     3,943      
Other assets     3,559      
Total assets     490,421      
Deposits:            
Noninterest-bearing     121,708      
Interest-bearing     327,700      
Total deposits     449,408      
Federal funds purchased and securities sold under agreements to repurchase     0      
Other liabilities     2,232      
Subordinated deferrable interest debentures     3,506      
Total liabilities     455,146      
Net identifiable assets acquired over (under) liabilities assumed     35,275      
Goodwill     14,725      
Net assets acquired over (under) liabilities assumed     $ 50,000      
Jacksonville Bancorp, Inc [Member]            
Assets            
Cash and cash equivalents       9,704    
Federal funds sold and interest-bearing balances       7,027    
Investment securities       59,894    
Other investments       2,458    
Loans       401,085    
Less allowance for loan losses       0    
Loans, net       401,085    
Other real estate owned       1,838    
Premises and equipment       4,798    
Intangible assets       5,854    
Other assets       37,407    
Total assets       530,065    
Deposits:            
Noninterest-bearing       123,399    
Interest-bearing       277,960    
Total deposits       401,359    
Other borrowings       48,434    
Other liabilities       2,354    
Subordinated deferrable interest debentures       12,901    
Total liabilities       465,048    
Net identifiable assets acquired over (under) liabilities assumed       65,017    
Goodwill $ 31,400     31,375    
Net assets acquired over (under) liabilities assumed       96,392    
Consideration:            
Ameris Bancorp common shares issued 2,549,469          
Company common stock issued $ 72,500          
Cash exchanged for shares $ 23,900          
Jacksonville Bancorp, Inc [Member] | Initial Fair Value Adjustments [Member]            
Assets            
Cash and cash equivalents       0    
Federal funds sold and interest-bearing balances       0    
Investment securities [10]       (942)    
Other investments       0    
Loans [18]       (15,746)    
Less allowance for loan losses [19]       12,613    
Loans, net       (3,133)    
Other real estate owned [20]       (1,035)    
Premises and equipment       0    
Intangible assets [4]       5,566    
Other assets [21]       23,266    
Total assets       23,722    
Deposits:            
Noninterest-bearing       0    
Interest-bearing [1]       421    
Total deposits       421    
Other borrowings [22]       84    
Other liabilities       0    
Subordinated deferrable interest debentures [23]       (3,393)    
Total liabilities       (2,888)    
Net identifiable assets acquired over (under) liabilities assumed       26,610    
Goodwill       31,375    
Net assets acquired over (under) liabilities assumed       57,985    
Jacksonville Bancorp, Inc [Member] | As Recorded by Acquired Bank [Member]            
Assets            
Cash and cash equivalents       9,704    
Federal funds sold and interest-bearing balances       7,027    
Investment securities       60,836    
Other investments       2,458    
Loans       416,831    
Less allowance for loan losses       (12,613)    
Loans, net       404,218    
Other real estate owned       2,873    
Premises and equipment       4,798    
Intangible assets       288    
Other assets       14,141    
Total assets       506,343    
Deposits:            
Noninterest-bearing       123,399    
Interest-bearing       277,539    
Total deposits       400,938    
Other borrowings       48,350    
Other liabilities       2,354    
Subordinated deferrable interest debentures       16,294    
Total liabilities       467,936    
Net identifiable assets acquired over (under) liabilities assumed       38,407    
Goodwill       0    
Net assets acquired over (under) liabilities assumed       $ 38,407    
Consideration:            
Ameris Bancorp common shares issued       2,549,469    
Purchase price per share of the Company’s common stock       $ 28.42    
Company common stock issued       $ 72,456    
Cash exchanged for shares       23,936    
Fair value of total consideration transferred       $ 96,392    
[1] Adjustment reflects the fair value adjustments based on the Company’s evaluation of the acquired deposits.
[2] Adjustment reflects additional recording of fair value adjustment of the premises and equipment.
[3] Adjustment reflects the fair value adjustments of the premises and equipment as of the acquisition date.
[4] Adjustment reflects the recording of core deposit intangible on the acquired core deposit accounts.
[5] Adjustment reflects the additional fair value adjustments of the portfolio of securities available for sale as of the acquisition date.
[6] Adjustment reflects the fair value adjustments of other investments as of the acquisition date.
[7] Adjustment reflects adjustment to the core deposit intangible on the acquired core deposit accounts.
[8] Adjustment reflects the additional deferred taxes on the difference in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for federal income tax purposes.
[9] Subsequent to acquisition, the acquired securities sold under agreements to repurchase were converted to deposit accounts and are no longer reported as securities sold under agreements to repurchase on the Consolidated Balance Sheet as of December 31, 2015.
[10] Adjustment reflects the fair value adjustments of the portfolio of securities available for sale as of the acquisition date.
[11] Adjustment reflects the fair value adjustments based on the Company’s evaluation of the acquired loan portfolio.
[12] Adjustment reflects the elimination of Merchants’ allowance for loan losses.
[13] Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired OREO portfolio.
[14] Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired premises.
[15] Adjustment reflects the deferred taxes on the difference in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for federal income tax purposes.
[16] Adjustment reflects the fair value adjustments based on the Company’s evaluation of interest rate swap liabilities.
[17] Adjustment reflects the fair value adjustment to the subordinated deferrable interest debentures at the acquisition date.
[18] Adjustment reflects the fair value adjustments based on the Company’s evaluation of the acquired loan portfolio, net of the reversal of JAXB remaining fair value adjustments from their prior acquisitions.
[19] Adjustment reflects the elimination of JAXB’s allowance for loan losses.
[20] Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired OREO portfolio, which is based largely on contracted sale prices.
[21] Adjustment reflects the deferred taxes on the difference in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for federal income tax purposes and the reversal of JAXB valuation allowance established on their deferred tax assets.
[22] Adjustment reflects the fair value adjustments based on the Company’s evaluation of the liability for other borrowings.
[23] Adjustment reflects the fair value adjustment to the subordinated deferrable interest debentures at the acquisition date, net of the reversal of JAXB remaining fair value adjustments from their prior acquisitions.