Mergers and Acquisitions Mergers and Acquisitions (Tables)

9 Months Ended

Sep. 30, 2016

Consideration transferred, identifiable net assets acquired and resulting goodwill

The following table discloses the calculation of the fair value of the consideration transferred, the total identifiable net assets acquired and the resulting goodwill arising from the TSB acquisition:



(Dollars in thousands)	August 31, 2016
Fair value of consideration transferred
Fair value of Company shares issued, net of equity issuance costs	$	10,465
Cash consideration for outstanding shares	3,475
Contingent consideration	—
Total fair value of consideration transferred	13,940
Recognized amounts of identifiable assets acquired and liabilities assumed
Identifiable assets acquired
Cash and cash equivalents	10,176
Loans receivable	51,875
Core deposit intangible	762
Accrued income and other assets	6,937
Total identifiable assets acquired	69,750
Liabilities assumed
Deposits	58,364
FHLB advances	3,260
Accrued expenses and other liabilities	601
Total liabilities assumed	62,225
Total identifiable net assets	7,525
Goodwill recognized	$	6,415

Unaudited Pro Forma Summary of the Company as if the Acquisitions had Occurred at the Beginning of the Period

The following unaudited pro forma summary presents consolidated information of the Company as if the TSB acquisition had occurred on January 1, 2015:



	Three Months ended			Nine Months ended
(Dollars in thousands)	September 30, 2016		September 30, 2015	September 30, 2016	September 30, 2015
Net interest income and non-interest income	$	107,656	99,748	315,683	291,097
Net income	30,606		29,764	89,888	86,943