XML 40 R30.htm IDEA: XBRL DOCUMENT v3.20.2
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]  
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 and six months ended June 30, 2019 as if the Salin acquisition had occurred as of the beginning of the comparable prior reporting period.
Three Months Ended
Six Months Ended
June 30June 30
20192019
Summary of Operations:
Net Interest Income
$41,529  $83,711  
Provision for Loan Losses
896  1,560  
Net Interest Income after Provision for Loan Losses
40,633  82,151  
Non-interest Income
10,898  20,024  
Non-interest Expense
31,584  73,736  
Income before Income Taxes
19,947  28,439  
Income Tax Expense
3,305  5,322  
Net Income
16,642  23,117  
Net Income Available to Common Shareholders
$16,642  $23,117  
Basic Earnings per Share
$0.37  $0.51  
Diluted Earnings per Share
$0.37  $0.51