Business Combinations (Tables)

9 Months Ended

Sep. 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	(8,700)
Total Identifiable Net Assets	104,003
Goodwill	$	58,716

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 nine months ended September 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 9/30/2022		Quarter Ended 9/30/2021
Net Interest Income	$	51,698	$	50,183
Non-interest Income	14,097		16,967
Total Revenue	65,795		67,150
Provision for Loan Losses Expense	350		(2,479)
Non-interest Expense	34,572		36,503
Income Before Income Taxes	30,873		33,126
Income Tax Expense	6,133		6,544
Net Income	$	24,740	$	26,582
Earnings Per Share and Diluted Earnings Per Share	$	0.84	$	0.90

	Unaudited Pro Forma		Unaudited Pro Forma
	Nine Months Ended 9/30/2022		Nine Months Ended 9/30/2021
Net Interest Income	$	148,203	$	146,367
Non-interest Income	45,465		48,746
Total Revenue	193,668		195,113
Provision for Loan Losses Expense	(450)		(10,790)
Non-interest Expense	106,301		107,624
Income Before Income Taxes	87,817		98,279
Income Tax Expense	16,184		19,792
Net Income	$	71,633	$	78,487
Earnings Per Share and Diluted Earnings Per Share	$	2.43	$	2.67