Mergers & Acquisitions (Tables)

12 Months Ended

Dec. 31, 2024

Business Combinations [Abstract]

Consideration transferred, identifiable net assets acquired and resulting goodwill

The following table discloses the preliminary fair value estimates of the consideration transferred, the total identifiable net assets acquired and the resulting goodwill arising from the Wheatland and RMB branch acquisitions. The Company is continuing to obtain information to determine the fair values of assets acquired and liabilities assumed.

(Dollars in thousands)	Wheatland January 31, 2024		RMB Branches July 19, 2024
Fair value of consideration transferred
Fair value of Company shares issued	$	92,385	$	—
Cash consideration or deposit premium paid	771		25,238
Total fair value of consideration transferred	93,156		25,238
Recognized amounts of identifiable assets acquired and liabilities assumed
Identifiable assets acquired
Cash and cash equivalents	31,674		102,019
Debt securities	187,183		—
Loans receivable, net of ACL	452,737		271,569
Core deposit intangible 1	16,936		11,808
Accrued income and other assets	51,029		15,114
Total identifiable assets acquired	739,559		400,510
Liabilities assumed
Deposits	616,955		396,690
Borrowings	58,500		4,305
Accrued expenses and other liabilities	9,094		2,057
Total liabilities assumed	684,549		403,052
Total identifiable net assets (liabilities)	55,010		(2,542)
Goodwill recognized	$	38,146	$	27,780

______________________________

1 The core deposit intangible for each of the acquisitions were determined to have an estimated life of 10 years.

Unaudited pro forma summary of the acquisitions

The following unaudited pro forma summary presents consolidated information of the Company as if the Wheatland and RMB branch acquisitions had occurred on January 1, 2023:

	Year ended
(Dollars in thousands)	December 31, 2024		December 31, 2023
Net interest income and non-interest income	$	841,031	852,055
Net income	193,161		239,301