Acquisitions (Tables)

6 Months Ended

Jun. 30, 2020

The following table presents the assets acquired and liabilities assumed, net of the fair value adjustments, in the Park Bank and Bridgeview transactions as of the acquisition date. The assets acquired and liabilities assumed, both intangible and tangible, were recorded at their estimated fair values as of the acquisition date and have been accounted for under the acquisition method of accounting.

Acquisition Activity

(Dollar amounts in thousands, except share and per share data)


	Park Bank		Bridgeview
	March 9, 2020		May 9, 2019
Assets
Cash and due from banks and interest-bearing deposits in other banks	$	244,781	$	35,097
Equity securities	—		6,966
Securities available-for-sale	136,856		263,090
Securities held-to-maturity	300		13,426
FHLB and FRB stock	—		1,481
Loans	685,451		709,438
OREO	2,001		5,436
Goodwill	62,433		63,231
Other intangible assets	3,068		15,603
Premises, furniture, and equipment	2,550		16,138
Accrued interest receivable and other assets	13,796		35,909
Total assets	$	1,151,236	$	1,165,815
Liabilities
Noninterest-bearing deposits	$	356,050	$	179,267
Interest-bearing deposits	594,026		807,487
Total deposits	950,076		986,754
Borrowed funds	11,532		1,746
Senior and subordinated debt	—		29,360

Accrued interest payable and other liabilities	15,246		12,603
Total liabilities	976,854		1,030,463
Consideration Paid
Common stock (2020 – 4,930,231, shares issued at $14.58 per share, 2019 – 4,728,541, shares issued at $20.77 per share), net of issuance costs	71,883		98,212
Cash paid	102,499		37,140
Total consideration paid	174,382		135,352
	$	1,151,236	$	1,165,815