BUSINESS COMBINATIONS (Tables)

3 Months Ended

Mar. 31, 2016

Schedule of summarizing the purchase price calculation

This transaction closed on March 11, 2016.

	March 11, 2016
Shares exchanged for cash	$	26,699,000

Number of Floridian common shares outstanding		6,222,119
Per share exchange ratio		0.5289
Number of shares of common stock issued		3,291,066
Multiplied by common stock price per share on March 11, 2016	$	15.47
Value of common stock issued		50,912,791
Total purchase price	$	77,611,791

Schedule of Business Acquisitions, by Acquisition

The fair values listed are preliminary and are subject to adjustment. The acquisition is accounted for under the acquisition method in accordance with ASC Topic 805, Business Combinations. The fair values initially assigned to assets acquired and liabilities assumed are preliminary and could change for up to one year after the closing date of the acquisition as new information and circumstances relative to closing date fair values are known. Determining fair values of assets and liabilities, especially the loan portfolio and foreclosed real estate, is a complicated process involving significant judgment regarding methods and assumptions used to calculate estimated fair values.

Date of acquisition	March 11, 2016

Assets:
Cash	$	28,243
Investment securities		66,912
Loans, net		268,249
Fixed assets		7,801
Core deposit intangibles		3,375
Goodwill		29,985
Other assets		12,879
	$	417,444

Liabilities:
Deposits	$	337,341
Other liabilities		2,492
	$	339,833

Fair Value, Assets Measured on Recurring Basis

The table below presents information with respect to the fair value of acquired loans, as well as their unpaid principal balance (“Book Balance”) at acquisition date.

	March 11, 2016
(Dollars in thousands)	Book Balance		Fair Value
Loans:
Single family residential real estate	$	38,304	$	37,367
Commercial real estate		172,531		167,082
Construction/development/land		20,546		18,108
Commercial loans		39,070		37,804
Consumer and other loans		3,385		3,110
Purchased credit-impaired		6,186		4,778
Total acquired loans	$	280,022	$	268,249

Schedule of Contractually required principal and interest payments

Contractually required principal and interest payments have been adjusted for estimated prepayments.

(Dollars in thousands)	March 11, 2016

Contractually required principal and interest	$	6,870
Non-accretable difference		(1,476)
Cash flows expected to be collected		5,394
Accretable yield		(616)
Total purchased credit-impaired loan acquired	$	4,778

Business Acquisition, Pro Forma Information

Pro-forma data for the three months ending March 31, 2016 and 2015 listed in the table below presents pro-forma information as if the acquisition occurred at the beginning of 2015.

	Three Months Ended
	March 31,
(Dollars in thousands, except per share amounts)	2016		2015

Net interest income	$	30,222	$	28,898
Net income available to common shareholders		4,810		7,156
EPS - basic	$	0.14	$	0.20
EPS - diluted	$	0.14	$	0.20