Mergers and Acquisitions (Tables)

6 Months Ended

Jun. 30, 2017

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 Foothills acquisition:



(Dollars in thousands)	April 30, 2017
Fair value of consideration transferred
Fair value of Company shares issued, net of equity issuance costs	$	46,673
Cash consideration for outstanding shares	17,342
Contingent consideration	—
Total fair value of consideration transferred	64,015
Recognized amounts of identifiable assets acquired and liabilities assumed
Identifiable assets acquired
Cash and cash equivalents	13,251
Investment securities	25,420
Loans receivable	292,529
Core deposit intangible ¹	4,331
Accrued income and other assets	19,699
Total identifiable assets acquired	355,230
Liabilities assumed
Deposits	296,760
FHLB advances	22,800
Accrued expenses and other liabilities	2,264
Total liabilities assumed	321,824
Total identifiable net assets	33,406
Goodwill recognized	$	30,609

________

¹ The core deposit intangible for this 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 Foothills acquisition had occurred on January 1, 2016:



	Three Months ended			Six Months ended
(Dollars in thousands)	June 30, 2017		June 30, 2016	June 30, 2017	June 30, 2016
Net interest income and non-interest income	$	115,215	108,848	225,071	213,308
Net income	30,527		31,206	62,752	60,788