Mergers and Acquisitions (Tables)

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

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, Cañon and CB acquisitions:

	TSB		Cañon		CB
(Dollars in thousands)	August 31, 2016		October 31, 2015		February 28, 2015
Fair value of consideration transferred
Fair value of Company shares issued, net of equity issuance costs	$	10,465	$	15,163	10,776
Cash consideration for outstanding shares	3,475		16,145		12,219
Contingent consideration	—		—		—
Total fair value of consideration transferred	13,940		31,308		22,995
Recognized amounts of identifiable assets acquired and liabilities assumed
Identifiable assets acquired
Cash and cash equivalents	10,176		17,860		31,931
Investment securities	—		68,486		42,350
Loans receivable	51,875		159,759		84,689
Core deposit intangible 1	762		4,532		2,087
Accrued income and other assets	6,937		9,689		13,580
Total identifiable assets acquired	69,750		260,326		174,637
Liabilities assumed
Deposits	58,364		237,326		146,820
FHLB advances and repurchase agreements	3,260		—		3,292
Accrued expenses and other liabilities	601		1,487		2,667
Total liabilities assumed	62,225		238,813		152,779
Total identifiable net assets	7,525		21,513		21,858
Goodwill recognized	$	6,415	$	9,795	1,137

________

¹ The core deposit intangible for each acquisition was determined to have an estimated life of 10 years.

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:

	Years ended
(Dollars in thousands)	December 31, 2016		December 31, 2015
Net interest income and non-interest income	$	424,242	392,252
Net income	120,929		116,577

The following unaudited pro forma summary presents consolidated information of the Company as if the Cañon and CB acquisition had occurred on January 1, 2014:

	Years ended
(Dollars in thousands)	December 31, 2015		December 31, 2014
Net interest income and non-interest income	$	401,140	383,387
Net income	115,613		115,899