Business Combinations (Tables) - Penn Liberty Financial Corporation

3 Months Ended

Mar. 31, 2017

Business Acquisition [Line Items]

Summary of Consideration Paid and Fair Value of Identifiable Assets Acquired and Liabilities Assumed

In connection with the merger, the consideration transferred and the fair value of identifiable assets acquired and liabilities assumed, including remeasurement adjustments subsequent to the date of acquisition, are summarized in the following table:

(Dollars in thousands)	Fair Value
Consideration Transferred:
Common shares issued (1,806,748)	$	68,352
Cash paid to Penn Liberty stock and option holders	40,549
Value of consideration	108,901
Assets acquired:
Cash and due from banks	102,301
Investment securities	627
Loans	483,482
Premises and equipment	6,817
Deferred income taxes	6,542
Bank owned life insurance	8,666
Core deposit intangible	2,882
Other real estate owned	996
Other assets	12,092
Total assets	624,405
Liabilities assumed:
Deposits	568,706
Other borrowings	10,000
Other liabilities	3,977
Total liabilities	582,683
Net assets acquired:	41,722
Goodwill resulting from acquisition of Penn Liberty	$	67,179

Schedule of Change to Goodwill

The following table details the change to goodwill recorded subsequent to acquisition:

(Dollars in thousands)	Fair Value
Goodwill resulting from the acquisition of Penn Liberty reported as of December 31, 2016	$	68,814
Effects of adjustments to:
Deferred income taxes	880
Other assets	(1,447		)
Other liabilities	(1,068		)
Adjusted goodwill resulting from the acquisition of Penn Liberty as of March 31, 2017	$	67,179