Business Combinations Business Combinations (Tables)

9 Months Ended

Sep. 30, 2016

Business Acquisition [Line Items]

Loans acquired, cash flows expected

The recorded fair values of purchased non-PCI loans and leases acquired in the Cordia transaction as of the acquisition date are as follows:

(Dollars in thousands)
Commercial:
Construction and land development	$	3,066
Commercial mortgage	77,455
Other commercial real estate	22,174
Commercial and industrial	31,773
Total commercial loans	134,468
Noncommercial:
Residential mortgage	16,839
Revolving mortgage	9,867
Consumer	80,218
Total noncommercial loans	106,924
Total non-PCI loans and leases	$	241,392

Cordia Bancorp Inc.

Business Acquisition [Line Items]

Schedule of assets acquired and liabilities assumed

The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values.

(Dollars in thousands)	As recorded by FCB
Purchase price			$	37,053
Assets
Cash and cash equivalents	$	8,383
Overnight investments	3,081
Investment securities	76,633
Loans	241,392
Premises and equipment	4,151
Other real estate owned	1,170
Income earned not collected	1,990
Intangible assets	2,210
Other assets	10,318
Total assets acquired	349,328
Liabilities
Deposits	292,192
Short-term borrowings	30,164
Other liabilities	747
Total liabilities assumed	$	323,103
Fair value of net assets acquired			26,225
Goodwill recorded for Cordia			$	10,828

First CornerStone Bank

Business Acquisition [Line Items]

Schedule of assets acquired and liabilities assumed

The following table provides the identifiable assets acquired and liabilities assumed at their estimated fair values as of the acquisition date.

(Dollars in thousands)	As recorded by FCB
Assets
Cash and cash equivalents	$	748
Overnight investments	37,540
Investment securities	4,564
Loans	43,776
Other real estate owned	375
Income earned not collected	8
Intangible assets	390
Other assets	13
Total assets acquired	87,414
Liabilities
Deposits	96,882
Other liabilities	23
Total liabilities assumed	96,905
Fair value of net liabilities assumed	(9,491		)
Cash received from FDIC	12,450
Gain on acquisition of FCSB	$	2,959

North Milwaukee State Bank

Business Acquisition [Line Items]

Schedule of assets acquired and liabilities assumed

(Dollars in thousands)	As recorded by FCB
Assets
Cash and cash equivalents	$	4,545
Overnight investments	2,274
Investment securities	9,425
Loans	36,914
Intangible assets	240
Other assets	216
Total assets acquired	53,614
Liabilities
Deposits	59,206
Short-term borrowings	1,662
Other liabilities	74
Total liabilities assumed	60,942
Fair value of net liabilities assumed	(7,328		)
Cash received from FDIC	10,200
Gain on acquisition of NMSB	$	2,872