XML 60 R50.htm IDEA: XBRL DOCUMENT v3.22.1
Mergers and Acquisitions - Atlantic Capital (Details)
$ / shares in Units, $ in Thousands
3 Months Ended
Mar. 01, 2022
USD ($)
$ / shares
shares
Mar. 31, 2022
USD ($)
Mar. 31, 2021
USD ($)
Dec. 31, 2021
USD ($)
Mergers and Acquisitions        
Goodwill   $ 1,924,024   $ 1,581,085
Deposits:        
Goodwill   1,924,024   $ 1,581,085
Consideration:        
Reversal of CSFL's ending allowance for credit losses   5,490 $ 3,374  
Atlantic Capital        
Mergers and Acquisitions        
Shares of the common stock in exchange for each share 0.36      
Purchase price $ 657,810      
Loans at fair value acquired after initial fair value adjustment 2,400,000      
Estimated discount on loans $ 48,700      
Estimated discount on loans (as a percent) 2.01%      
Loans acquired as a percentage of total loans 10.00%      
Credit deficiencies that were identified as Purchased Credit Deteriorated ("PCD") loans. $ 112,700      
Goodwill 342,939      
Acquisition costs   5,600    
Assets        
Cash and cash equivalents 250,158      
Investment securities 703,710      
Loans, net of allowance and mark 2,375,292      
Premises and equipment 19,500      
Intangible assets 20,791      
Bank owned life insurance 74,613      
Deferred tax asset 32,504      
Other assets 43,997      
Total assets 3,520,565      
Deposits:        
Noninterest-bearing 1,411,671      
Interest-bearing 1,616,970      
Total deposits 3,028,641      
Federal funds purchased and securities sold under agreements to repurchase 50,000      
Other borrowings 78,417      
Other liabilities 48,636      
Total liabilities 3,205,694      
Net identifiable assets acquired over (under) liabilities assumed 314,871      
Goodwill 342,939      
Net assets acquired over liabilities assumed $ 657,810      
Consideration:        
Number of shares issued as consideration | shares 7,330,803      
Purchase price per share of the Company's common stock | $ / shares $ 90.00      
Company common stock issued and cash exchanged for fractional shares. $ 659,791      
Value of shares issued 659,772      
Value of common stock issued for fractional shares 19      
Stock option conversion 1,135      
Business Acquisition Cost Of Acquired Entity Conversion Of Restricted Stock Units 2,870      
Restricted stock awards conversion (unvested awards) (5,986)      
Fair value of total consideration transferred 657,810      
Reversal of fair value adjustments 17,200      
Securities and time deposits at fair value (discount) 30,900      
HTM reclassified to AFS $ 237,600      
Credit mark of the loan portfolio (as a percent) 1.23%      
Credit mark of the loan portfolio $ 29,700      
Total mark of the loan portfolio (as a percent) 2.01%      
Total mark of the loan portfolio $ 48,700      
Reversal of CSFL's ending allowance for credit losses 22,100      
Fair value adjustment for reversal of deferred fees and costs 7,600      
Fair value adjustment for fixed assets and leased assets 2,600      
Core deposit intangible from a third party valuation $ 17,500      
Core deposit intangible from a third party valuation (as a percent) 0.63      
Serving assets from third party valuation $ 3,200      
Servicing assets written off 19,900      
Goodwill written off $ 2,600      
Deferred tax assets related to fair value adjustments with effective tax rate 24.60%      
Fair value negative adjustment for investment in low income housing $ 1,100      
Issuance costs on subordinated debt 900      
Fair value adjustment on reversal of debt issuance costs 3,400      
Reversal of an existing unfunded commitment reserve at purchase date 2,800      
Fair value adjustment to increase lease liabilities associated with rental facilities 1,400      
Fair value adjustment for reversal of uncertain tax liability 700 $ 700    
Atlantic Capital | As Recorded by Atlantic Capital        
Assets        
Cash and cash equivalents 250,134      
Investment securities 717,332      
Loans, net of allowance and mark 2,394,256      
Premises and equipment 16,892      
Intangible assets 22,572      
Bank owned life insurance 74,613      
Deferred tax asset 30,231      
Other assets 45,274      
Total assets 3,551,304      
Deposits:        
Noninterest-bearing 1,411,671      
Interest-bearing 1,616,970      
Total deposits 3,028,641      
Federal funds purchased and securities sold under agreements to repurchase 50,000      
Other borrowings 74,131      
Other liabilities 50,711      
Total liabilities 3,203,483      
Net identifiable assets acquired over (under) liabilities assumed 347,821      
Net assets acquired over liabilities assumed 347,821      
Atlantic Capital | Initial Fair Value Adjustments        
Mergers and Acquisitions        
Goodwill 342,939      
Assets        
Cash and cash equivalents 24      
Investment securities (13,622)      
Loans, net of allowance and mark (18,964)      
Premises and equipment 2,608      
Intangible assets (1,781)      
Deferred tax asset 2,273      
Other assets (1,277)      
Total assets (30,739)      
Deposits:        
Other borrowings 4,286      
Other liabilities (2,075)      
Total liabilities 2,211      
Net identifiable assets acquired over (under) liabilities assumed (32,950)      
Goodwill 342,939      
Net assets acquired over liabilities assumed $ 309,989