Acquisition (Tables)

6 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Fair Value of Assets Acquired and Liabilities Assumed

A summary, at fair value, of the assets acquired and liabilities assumed in the Reliance transaction, as of the acquisition date, is as follows:

(In thousands)	Acquired from Reliance			Fair Value Adjustments			Fair Value
Assets Acquired
Cash and due from banks	$	25,693		$	—		$	25,693
Due from banks - time	502			—			502
Investment securities	287,983			(1,763		)	286,220
Loans acquired	1,138,527			(41,657		)	1,096,870
Allowance for loan losses	(10,808		)	10,808			—
Foreclosed assets	11,092			(3,992		)	7,100
Premises and equipment	32,452			(3,001		)	29,451
Bank owned life insurance	39,348			—			39,348
Core deposit intangible	—			18,350			18,350
Other assets	24,175			5,001			29,176
Total assets acquired	$	1,548,964		$	(16,254	)	$	1,532,710
Liabilities Assumed
Deposits:
Non-interest bearing transaction accounts	$	108,845		$	(33	)	$	108,812
Interest bearing transaction accounts and savings deposits	639,798			—			639,798
Time deposits	478,415			(1,758		)	476,657
Total deposits	1,227,058			(1,791		)	1,225,267
Securities sold under agreement to repurchase	14,146			—			14,146
Other borrowings	162,900			(5,500		)	157,400
Accrued interest and other liabilities	8,185			936			9,121
Total liabilities assumed	1,412,289			(6,355		)	1,405,934
Equity	136,675			(94,675		)	42,000
Total equity assumed	136,675			(94,675		)	42,000
Total liabilities and equity assumed	$	1,548,964		$	(101,030	)	$	1,447,934
Net assets acquired							84,776
Purchase price							165,539
Goodwill							$	80,763