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Acquisitions (Tables)
12 Months Ended
Dec. 31, 2017
Acquisitions [Abstract]  
Schedule of Fair Value of Net Assets Acquired and Liabilities Assumed



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

 

FNBC I

 

 

FNBC II

 

 

 

(in thousands)

 

 

March 10, 2017

 

 

April 28, 2017

 

 

Total

ASSETS

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

2,856 

 

$

157,932 

 

$

160,788 

Interest-bearing time deposits with other banks

 

 

 —

 

 

382,622 

 

 

382,622 

Fed funds sold and other short-term investments

 

 

 —

 

 

148 

 

 

148 

Securities

 

 

 —

 

 

213,877 

 

 

213,877 

Total loans

 

 

1,203,092 

 

 

165,577 

 

 

1,368,669 

Property and equipment

 

 

11,946 

 

 

8,988 

 

 

20,934 

Accrued interest receivable

 

 

3,143 

 

 

885 

 

 

4,028 

Identifiable intangible assets

 

 

3,900 

 

 

21,400 

 

 

25,300 

Deferred tax asset

 

 

856 

 

 

1,364 

 

 

2,220 

Other assets

 

 

63 

 

 

4,150 

 

 

4,213 

     Total identifiable assets

 

 

1,225,856 

 

 

956,943 

 

 

2,182,799 



 

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

 

 

 

Deposits

 

 

398,171 

 

 

1,530,338 

 

 

1,928,509 

Short-term borrowings

 

 

510,749 

 

 

85,886 

 

 

596,635 

Long-term debt

 

 

93,120 

 

 

 —

 

 

93,120 

Other liabilities

 

 

1,607 

 

 

3,079 

 

 

4,686 

     Total liabilities

 

 

1,003,647 

 

 

1,619,303 

 

 

2,622,950 

     Net identifiable assets acquired (liabilities assumed)

 

 

222,209 

 

 

(662,360)

 

 

(440,151)

     Consideration (Paid) Received

 

 

(325,756)

 

 

641,577 

 

 

315,821 

     Goodwill

 

$

103,547 

 

$

20,783 

 

$

124,330 



Schedule of Goodwill



 

 

 



 

 

 

(in thousands)

 

 

 

Goodwill balance at December 31, 2016

 

$

621,193 

Additions and adjustments:

 

 

 

     Initial goodwill recorded in FNBC I transaction

 

 

95,568 

     Measurement period adjustments - FNBC I transaction

 

 

7,979 

     Initial goodwill recorded in FNBC II transaction

 

 

23,009 

     Measurement period adjustments - FNBC II transaction

 

 

(2,226)

Goodwill balance at December 31, 2017

 

$

745,523 



Schedule of Merger-Related Expense



 

 



 

 

(in thousands)

 

Personnel expense

$

3,662 

Net occupancy and equipment expense

 

777 

Professional services expense

 

9,681 

Data processing expense

 

974 

Other real estate

 

(1,511)

Advertising expense

 

1,389 

Other expense

 

4,398 

Total merger-related expenses

$

19,370