XML 46 R27.htm IDEA: XBRL DOCUMENT

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Purchase Price of Assets Acquired and Liabilities Assumed


Assets			Liabilities
Cash and due from banks	$	152,745	Deposits
Investment securities, available for sale	54,319		Non-interest bearing	$	188,744
Loans			NOW accounts	207,567
Commercial	352,798		Savings and money market	274,504
Residential mortgage	131,008		Certificates of deposit	70,529
Consumer	85,112		Total deposits	741,344
Total loans	568,918		Borrowings	70,495
Premises and equipment, net	20,425		Subordinated debentures	18,376
FRB and FHLB stock	3,571		Interest payable	826
Goodwill	31,358		Other liabilities	8,759
Core deposit intangible	19,818		Total liabilities assumed	$	839,800
Interest receivable	2,488
Other assets	112,880
Total assets purchased	$	966,522
Common shares issued	$	102,722
Cash paid	24,000
Total purchase price	$	126,722

Schedule of Acquired Loans Accounted for in Accordance with ASC 310-30

The following table details an estimate of the acquired loans that are accounted for in accordance with ASC 310-30 as of March 26, 2019.


Contractually required principal and interest at acquisition	$	22,672
Contractual cash flows not expected to be collected (nonaccretable differences)	6,694
Expected cash flows at acquisition	15,978
Interest component of expected cash flows (accretable discount)	735
Fair value of acquired loans accounted for under ASC310-30	$	15,243

Pro Forma Result of Comparable Prior Reporting Period

The following schedule includes pro-forma results for the three months ended March 31, 2019 as if the Salin acquisition had occurred as of the beginning of the comparable prior reporting period.


	Three Months Ended
	March 31
	2019
Summary of Operations:
Net Interest Income	$	42,182
Provision for Loan Losses	664
Net Interest Income after Provision for Loan Losses	41,518
Non-interest Income	9,126
Non-interest Expense	42,152
Income before Income Taxes	8,492
Income Tax Expense	2,017
Net Income	6,475
Net Income Available to Common Shareholders	$	6,475
Basic Earnings per Share	$	0.17
Diluted Earnings per Share	$	0.17