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Disposition
6 Months Ended
Jun. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Disposition DispositionOn June 30, 2021, the Company completed the sale of the operations and substantially all of the operating assets of its property and casualty insurance agency subsidiary, First Bank Insurance Services, to Bankers Insurance, LLC for an initial purchase price valued at $13.0 million and a future earn-out payment of up to $1.0 million. The Company recorded a gain of $1.7 million related to the sale. Approximately $10.2 million of intangible assets were derecognized from the Company's balance sheet as a result of this transaction, including $7.4 million in goodwill and $2.8 million in other intangibles. At June 30, 2021 the $13.0 million purchase price was recorded as a receivable within "Other assets" on the consolidated balance sheet. Of that receivable amount, on July 1, 2021 the Company received $11.9 million in cash and one share of Bankers Insurance, LLC with a value of $0.6 million. The remaining $0.5 million in cash is due to be received in the fourth quarter of 2021. Effective with the close of the sale on June 30, 2021, Bankers Insurance, LLC assumed $555,000 in cash that was held at First Bank Insurance Services, which is reflected as cash paid related to the sale in the Consolidated Statement of Cash Flows for the six month period ended June 30, 2021.