Business Combinations (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Acquisitions

The following table summarizes the consideration transferred and the fair values of identifiable assets acquired and liabilities assumed on July 1, 2022:

	Fair Value
(dollars in thousands, except share data)
Consideration transferred:
Common stock shares issued (6,208,516)	$	89,713
Cash paid to Prudential Bancorp shareholders	29,343
Value of consideration	119,056
Assets acquired:
Cash and due from banks	7,533
Investment securities	287,126
Loans	554,091
Premises and equipment	8,574
Other assets	73,303
Total assets	930,627
Liabilities assumed:
Deposits	532,170
Borrowings(1)	284,000
Other liabilities	14,482
Total liabilities	830,652
Net assets acquired:	99,975
Goodwill resulting from the Merger	$	19,081

(1) Included a $30.5 million intercompany borrowing between Prudential Bank and Fulton Bank.

Schedule of Goodwill

The following table presents the change in goodwill during the period:

	(dollars in thousands)
Goodwill at December 31, 2021	$	534,266
Goodwill from the Merger	16,273
Goodwill at December 31, 2022	550,539
Adjustments to goodwill from the Merger	2,807
Goodwill at December 31, 2023	$	553,346