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Mergers and Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2018
Business Acquisition [Line Items]  
Schedule of actual results and pro forma information
The following table presents the actual results and pro forma information for the periods indicated (in thousands).

 
(Unaudited)
Year Ended December 31,
 
Revenue
 
Net Income
2018
 

 
 

Actual NLFC results included in the statement of income since acquisition date
$
24,285

 
$
7,149

Supplemental consolidated pro forma as if NLFC had been acquired January 1, 2017
526,137

 
168,445

2017
 
 
 
Actual FOFN results included in statement of income since acquisition date
$
5,265

 
$
1,406

Actual HCSB results included in statement of income since acquisition date
5,775

 
1,385

Supplemental consolidated pro forma as if FOFN and HCSB had been acquired January 1, 2016 and NLFC had been acquired January 1, 2017
495,052

 
78,958

2016
 
 
 
Actual Tidelands results included in statement of income since acquisition date
$
7,512

 
$
1,189

Supplemental consolidated pro forma as if FOFN and HCSB had been acquired January 1, 2016 and Tidelands had been acquired January 1, 2015
452,713

 
89,200
NLFC Holdings Corp  
Business Acquisition [Line Items]  
Schedule of purchased assets and assumed liabilities
The purchased assets and assumed liabilities were recorded at their acquisition date fair values and are summarized in the table below (in thousands). 
 
As Recorded by
NLFC
 
Fair Value
Adjustments (1)
 
As Recorded by
United
Assets
 

 
 

 
 

Cash and cash equivalents
$
27,700

 
—

 
$
27,700

Loans and leases, net
365,533

 
(7,181
)
 
358,352

Premises and equipment, net
628

 
(304
)
 
324

Net deferred tax asset
—

 
2,873

 
2,873

Other assets
5,117

 
(1,066
)
 
4,051

Total assets acquired
$
398,978

 
$
(5,678
)
 
$
393,300

Liabilities
 
 
 
 
 
Short-term borrowings
$
214,923

 
$
—

 
$
214,923

Long-term debt
119,402

 
—

 
119,402

Other liabilities
17,059

 
(951
)
 
16,108

Total liabilities assumed
351,384

 
(951
)
 
350,433

Excess of assets acquired over liabilities assumed
$
47,594

 
 
 
 
Aggregate fair value adjustments
 
 
$
(4,727
)
 
 
Total identifiable net assets
 
 
 
 
42,867

Consideration transferred
 
 
 
 
 
Cash
 
 
 
 
84,500

Common stock issued (1,443,987 shares)
 
 
 
 
45,746

Total fair value of consideration transferred
 
 
 
 
130,246

Goodwill
 
 
 
 
$
87,379


(1) Fair values are preliminary and are subject to refinement for a period not to exceed one year after the closing date of an acquisition as information relative to closing date fair values becomes available.
Additional information related to acquired loan portfolio at acquisition date
The following table presents additional information related to the acquired loan and lease portfolio at the acquisition date (in thousands).
 
 
February 1, 2018
 
 
Accounted for pursuant to ASC 310-30:
 

 
 
Contractually required principal and interest
$
24,711

 
 
Non-accretable difference
5,505

 
 
Cash flows expected to be collected
19,206

 
 
Accretable yield
1,977

 
 
Fair value
$
17,229

 
 
 
 
 
 
Excluded from ASC 310-30:
 
 
 
Fair value
$
341,123

 
 
Gross contractual amounts receivable
389,432

 
 
Estimate of contractual cash flows not expected to be collected
8,624

 
Four Oaks FinCorp, Inc  
Business Acquisition [Line Items]  
Schedule of purchased assets and assumed liabilities
The purchased assets and assumed liabilities were recorded at their acquisition date fair values and are summarized in the table below (in thousands).
 
As Recorded by FOFN
 
Fair Value Adjustments
 
As Recorded by United
Assets
 

 
 

 
 

Cash and cash equivalents
$
48,652

 
$
6

 
$
48,658

Securities
114,190

 
782

 
114,972

Loans held for sale
13,976

 
(3,290
)
 
10,686

Loans, net
491,721

 
(5,477
)
 
486,244

Premises and equipment, net
11,251

 
1,147

 
12,398

Bank owned life insurance
20,339

 
—

 
20,339

Accrued interest receivable
1,858

 
(118
)
 
1,740

Net deferred tax asset
18,333

 
(999
)
 
17,334

Intangibles
—

 
8,738

 
8,738

Other real estate owned
1,173

 
(514
)
 
659

Other assets
8,792

 
(69
)
 
8,723

Total assets acquired
$
730,285

 
$
206

 
$
730,491

Liabilities
 
 
 
 
 
Deposits
$
563,840

 
$
1,365

 
$
565,205

Federal Home Loan Bank advances
65,000

 
224

 
65,224

Long-term debt
23,872

 
(4,125
)
 
19,747

Other liabilities
7,330

 
60

 
7,390

Total liabilities assumed
660,042

 
(2,476
)
 
657,566

Excess of assets acquired over liabilities assumed
$
70,243

 
 
 
 
Aggregate fair value adjustments
 
 
$
2,682

 
 
Total identifiable net assets
 
 
 
 
72,925

Consideration transferred
 
 
 
 
 
Cash
 
 
 
 
12,802

Common stock issued (4,145,343 shares)
 
 
 
 
113,665

Total fair value of consideration transferred
 
 
 
 
126,467

Goodwill
 
 
 
 
$
53,542
Additional information related to acquired loan portfolio at acquisition date
The following table presents additional information related to the acquired loan portfolio at the acquisition date (in thousands):
 
 
November 1, 2017
 
 
Accounted for pursuant to ASC 310-30:
 

 
 
Contractually required principal and interest
$
49,377

 
 
Non-accretable difference
8,244

 
 
Cash flows expected to be collected
41,133

 
 
Accretable yield
3,313

 
 
Fair value
$
37,820

 
 
 
 
 
 
Excluded from ASC 310-30:
 
 
 
Fair value
$
448,462

 
 
Gross contractual amounts receivable
509,629

 
 
Estimate of contractual cash flows not expected to be collected
6,081

 
HCSB Financial Corporation  
Business Acquisition [Line Items]  
Schedule of purchased assets and assumed liabilities
The purchased assets and assumed liabilities were recorded at their acquisition date fair values and are summarized in the table below (in thousands). 
 
As Recorded by HCSB
 
Fair Value Adjustments
 
As Recorded by United
Assets
 

 
 

 
 

Cash and cash equivalents
$
17,855

 
$
(2
)
 
$
17,853

Securities
101,462

 
(142
)
 
101,320

Loans, net
228,483

 
(12,536
)
 
215,947

Premises and equipment, net
14,030

 
(6,606
)
 
7,424

Bank owned life insurance
11,827

 
—

 
11,827

Accrued interest receivable
1,322

 
(275
)
 
1,047

Net deferred tax asset
—

 
25,579

 
25,579

Intangibles
—

 
5,716

 
5,716

Other real estate owned
1,177

 
(372
)
 
805

Other assets
1,950

 
(32
)
 
1,918

Total assets acquired
$
378,106

 
$
11,330

 
$
389,436

Liabilities
 
 
 
 
 
Deposits
$
318,512

 
$
430

 
$
318,942

Repurchase agreements
1,141

 
—

 
1,141

Federal Home Loan Bank advances
24,000

 
517

 
24,517

Other liabilities
1,955

 
91

 
2,046

Total liabilities assumed
345,608

 
1,038

 
346,646

Excess of assets acquired over liabilities assumed
$
32,498

 
 
 
 
Aggregate fair value adjustments
 
 
$
10,292

 
 
Total identifiable net assets
 
 
 
 
42,790

Consideration transferred
 
 
 
 
 
Cash
 
 
 
 
31

Common stock issued (2,370,331 shares)
 
 
 
 
65,800

Total fair value of consideration transferred
 
 
 
 
65,831

Equity interest in HCSB held before the business combination
 
 
 
 
1,125

Goodwill
 
 
 
 
$
24,166
Additional information related to acquired loan portfolio at acquisition date
The following table presents additional information related to the acquired loan portfolio at the acquisition date (in thousands):
 
 
July 31, 2017
 
 
Accounted for pursuant to ASC 310-30:
 

 
 
Contractually required principal and interest
$
46,069

 
 
Non-accretable difference
12,413

 
 
Cash flows expected to be collected
33,656

 
 
Accretable yield
3,410

 
 
Fair value
$
30,246

 
 
 
 
 
 
Excluded from ASC 310-30:
 
 
 
Fair value
$
185,701

 
 
Gross contractual amounts receivable
212,780

 
 
Estimate of contractual cash flows not expected to be collected
3,985

 
Tidelands Bancshares, Inc  
Business Acquisition [Line Items]  
Schedule of purchased assets and assumed liabilities
The purchased assets and assumed liabilities were recorded at their acquisition date fair values and are summarized in the table below (in thousands). 
 
As Recorded by Tidelands
 
Fair Value Adjustments
 
As Recorded by United
Assets
 

 
 

 
 

Cash and cash equivalents
$
13,121

 
$
—

 
$
13,121

Securities
65,676

 
(155
)
 
65,521

Loans held for sale
139

 
3

 
142

Loans, net
317,938

 
(12,035
)
 
305,903

Premises and equipment, net
19,133

 
(7,944
)
 
11,189

Bank owned life insurance
16,917

 
—

 
16,917

Accrued interest receivable
1,086

 
(167
)
 
919

Net deferred tax asset
73

 
15,639

 
15,712

Core deposit intangible
—

 
1,570

 
1,570

Other real estate owned
9,881

 
(2,386
)
 
7,495

Other assets
1,920

 
(164
)
 
1,756

Total assets acquired
$
445,884

 
$
(5,639
)
 
$
440,245

Liabilities
 
 
 
 
 
Deposits
$
398,108

 
$
1,765

 
$
399,873

Repurchase agreements
10,000

 
155

 
10,155

Federal Home Loan Bank advances
13,000

 
354

 
13,354

Long-term debt
14,434

 
(3,668
)
 
10,766

Other liabilities
11,587

 
(5,986
)
 
5,601

Total liabilities assumed
447,129

 
(7,380
)
 
439,749

Excess of assets acquired over liabilities assumed
$
(1,245
)
 
 
 
 
Aggregate fair value adjustments
 
 
$
1,741

 
 
Total identifiable net assets
 
 
 
 
496

Consideration transferred
 
 
 
 
 
Cash paid to redeem common stock
 
 
 
 
2,224

Cash paid to redeem preferred stock issued under the Treasury’s Capital Purchase Program
 
 
 
 
8,985

Total fair value of consideration transferred
 
 
 
 
11,209

Goodwill
 
 
 
 
$
10,713
Additional information related to acquired loan portfolio at acquisition date
The following table presents additional information related to the acquired loan portfolio at the acquisition date (in thousands):
 
 
July 1, 2016
 
 
Accounted for pursuant to ASC 310-30:
 

 
 
Contractually required principal and interest
$
50,660

 
 
Non-accretable difference
13,483

 
 
Cash flows expected to be collected
37,177

 
 
Accretable yield
2,113

 
 
Fair value
$
35,064

 
 
 
 
 
 
Excluded from ASC 310-30:
 
 
 
Fair value
$
270,839

 
 
Gross contractual amounts receivable
302,331

 
 
Estimate of contractual cash flows not expected to be collected
3,859