Acquisition Acquisitions (Tables)

Jun. 14, 2019

Feb. 01, 2018

Business Combinations [Abstract]

Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table presents the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date related to Huntington branch acquisition:

($ in Thousands)	Purchase Accounting Adjustments		June 14, 2019
Assets
Cash and cash equivalents	$	—	$	551,250
Loans	(1,552)		116,346
Premises and equipment, net	4,800		22,430
Goodwill			7,286
Core deposit intangibles (included in other intangible assets, net on the face of the Consolidated Balance Sheets)	22,630		22,630
Other real estate owned (included in other assets on the face of the Consolidated Balance Sheets)	(2,561)		5,263
Others assets	$	—	559
Total assets			$	725,764
Liabilities
Deposits	$	156	$	725,173
Other liabilities	$	70	590
Total liabilities			$	725,764

The following table presents the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date related to Bank Mutual:

($ in Thousands)	Purchase Accounting Adjustments		February 1, 2018
Assets
Cash and cash equivalents	$	—	$	78,052
Investment securities	(6,238)		452,867
Federal Home Loan Bank stock, at cost	—		20,026
Loans	(48,043)		1,875,877
Premises and equipment, net	2,930		42,689
Bank owned life insurance	(24)		65,390
Goodwill			175,499
Core deposit intangibles (included in other intangible assets, net on the face of the Consolidated Balance Sheets)	58,100		58,100
Other real estate owned (included in other assets on the face of the Consolidated Balance Sheets)	199		4,848
Others assets	$	7,054	47,158
Total assets			$	2,820,506
Liabilities
Deposits	$	2,498	$	1,840,950
Other borrowings	1,875		431,886
Other liabilities	$	4,487	65,982
Total liabilities			$	2,338,818
Total consideration paid			$	481,688

Acquired loans fair value calculation

For loans acquired, the contractual amounts due, expected cash flows to be collected, interest component, and fair value as of the respective acquisition dates were as follows:

	February 1, 2018
($ in Thousands)	Acquired Performing Loans		Acquired Impaired Loans		Total
Contractual required principal and interest at acquisition	$	1,899,932	$	23,988	$	1,923,920
Contractual cash flows not expected to be collected (nonaccretable discount)	—		(1,866)		(1,866)
Expected cash flows at acquisition	1,899,932		22,122		1,922,054
Interest component of expected cash flows (accretable discount)	(41,324)		(4,853)		(46,177)
Fair value of acquired loans	$	1,858,608	$	17,269	$	1,875,877