Mergers and Acquisitions (Tables)

12 Months Ended

Dec. 31, 2018

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 FSB, Collegiate and Foothills acquisitions:

(Dollars in thousands)	FSB February 28, 2018		Collegiate January 31, 2018	Foothills April 30, 2017
Fair value of consideration transferred
Fair value of Company shares issued, net of equity issuance costs	$	181,043	69,764	46,673
Cash consideration for outstanding shares	—		16,265	17,342
Effective settlement of a pre-existing relationship	—		10,054	—
Total fair value of consideration transferred	181,043		96,083	64,015
Recognized amounts of identifiable assets acquired and liabilities assumed
Identifiable assets acquired
Cash and cash equivalents	24,397		93,136	13,251
Debt securities	271,865		42,177	25,420
Loans receivable	627,767		354,252	292,529
Core deposit intangible 1	31,053		10,275	4,331
Accrued income and other assets	78,274		15,911	19,699
Total identifiable assets acquired	1,033,356		515,751	355,230
Liabilities assumed
Deposits	877,586		437,171	296,760
Borrowings 2	36,880		12,509	22,800
Accrued expenses and other liabilities	14,175		5,435	2,264
Total liabilities assumed	928,641		455,115	321,824
Total identifiable net assets	104,715		60,636	33,406
Goodwill recognized	$	76,328	35,447	30,609

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

² Borrowings assumed with the FSB acquisition include Tier 2 subordinated debentures of $7,903,000.

Unaudited Pro Forma Summary of the Company as if the 2018 Acquisitions had Occurred at the Beginning of the Period

The following unaudited pro forma summary presents consolidated information of the Company as if the FSB and Collegiate acquisitions had occurred on January 1, 2017:

	Years ended
(Dollars in thousands)	December 31, 2018		December 31, 2017
Net interest income and non-interest income	$	560,979	520,634
Net income	177,267		138,042

Unaudited Pro Forma Summary of the Company as if the 2017 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:

	Years ended
(Dollars in thousands)	December 31, 2017		December 31, 2016
Net interest income and non-interest income	$	462,603	436,678
Net income	114,187		124,373