Business Combinations (Tables)

6 Months Ended

Jun. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Fair Value of Identifiable Assets Acquired and Liabilities Assumed

The following table summarizes the fair value of the total consideration transferred as a part of the CUB acquisition as well as the fair value of identifiable assets acquired and liabilities assumed as of the effective date of the transaction.

Consideration
Cash for Stock Options and Fractional Shares	$	942
Cash Consideration	49,863
Equity Instruments	111,914
Fair Value of Total Consideration Transferred	$	162,719
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed:
Cash	$	20,244
Federal Funds Sold and Other Short-term Investments	238,325
Interest-bearing Time Deposits with Banks	250
Securities	102,233
Loans	678,167
Stock in FHLB and Other Restricted Stock, at Cost	10,078
Premises, Furniture & Equipment	20,064
Other Real Estate	40
Intangible Assets	7,572
Company Owned Life Insurance	12,881
Accrued Interest Receivable and Other Assets	17,908
Deposits - Non-interest Bearing	(237,472)
Deposits - Interest Bearing	(696,750)
FHLB Advances and Other Borrowings	(60,837)
Accrued Interest Payable and Other Liabilities	(8,532)
Total Identifiable Net Assets	104,171
Goodwill	$	58,548

Schedule of Unaudited Pro Forma Information

The following table presents unaudited pro forma information as if the acquisition had occurred on January 1, 2021 after giving effect to certain adjustments. The unaudited pro forma information for the three and six months ended June 30, 2022 and 2021 includes adjustments for interest income on loans and securities acquired, amortization of intangibles arising from the transaction, interest expense on deposits and borrowings acquired, and the related income tax effects. The unaudited pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transaction been effected on the assumed date.

	Unaudited Pro Forma		Unaudited Pro Forma
	Quarter Ended 6/30/2022		Quarter Ended 6/30/2021
Net Interest Income	$	49,597	$	48,453
Non-interest Income	15,180		15,253
Total Revenue	64,777		63,706
Provision for Loan Losses Expense	300		(5,454)
Non-interest Expense	35,274		33,677
Income Before Income Taxes	29,203		35,483
Income Tax Expense	5,029		7,300
Net Income	$	24,174	$	28,183
Earnings Per Share and Diluted Earnings Per Share	$	0.82	$	0.96

	Unaudited Pro Forma		Unaudited Pro Forma
	Six Months Ended 6/30/2022		Six Months Ended 6/30/2021
Net Interest Income	$	96,505	$	96,184
Non-interest Income	31,368		31,779
Total Revenue	127,873		127,963
Provision for Loan Losses Expense	(800)		(8,311)
Non-interest Expense	71,729		71,121
Income Before Income Taxes	56,944		65,153
Income Tax Expense	10,051		13,248
Net Income	$	46,893	$	51,905
Earnings Per Share and Diluted Earnings Per Share	$	1.59	$	1.77