Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Summary of Assets Acquired and Liabilities Assumed

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

(In thousands)	Acquired from OKSB			Fair Value Adjustments			Fair Value
Assets Acquired
Cash and due from banks	$	79,517		$	—		$	79,517
Investment securities	485,468			(1,295		)	484,173
Loans acquired	2,039,524			(43,071		)	1,996,453
Allowance for loan losses	(26,957		)	26,957			—
Foreclosed assets	6,284			(1,127		)	5,157
Premises and equipment	21,210			5,457			26,667
Bank owned life insurance	28,704			—			28,704
Goodwill	13,545			(13,545		)	—
Core deposit intangible	1,933			40,191			42,124
Other intangibles	3,806			—			3,806
Other assets	33,455			(9,141		)	24,314
Total assets acquired	$	2,686,489		$	4,426		$	2,690,915

Liabilities Assumed
Deposits:
Non-interest bearing transaction accounts	$	485,971	$	—		$	485,971
Interest bearing transaction accounts and savings deposits	869,252		—			869,252
Time deposits	613,345		(2,213		)	611,132
Total deposits	1,968,568		(2,213		)	1,966,355
Securities sold under agreement to repurchase	11,256		—			11,256
Other borrowings	347,000		—			347,000
Subordinated debentures	46,393		—			46,393
Accrued interest and other liabilities	17,440		5,364			22,804
Total liabilities assumed	2,390,657		3,151			2,393,808
Equity	295,832		(295,832		)	—
Total equity assumed	295,832		(295,832		)	—
Total liabilities and equity assumed	$	2,686,489	$	(292,681	)	$	2,393,808
Net assets acquired						297,107
Purchase price						526,251
Goodwill						$	229,144

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

(In thousands)	Acquired from Hardeman			Fair Value Adjustments			Fair Value
Assets Acquired
Cash and due from banks	$	8,001		$	—		$	8,001
Interest bearing balances due from banks - time	1,984			—			1,984
Investment securities	170,654			(285		)	170,369
Loans acquired	257,641			(5,992		)	251,649
Allowance for loan losses	(2,382		)	2,382			—
Foreclosed assets	1,083			(452		)	631
Premises and equipment	9,905			1,258			11,163
Bank owned life insurance	7,819			—			7,819
Goodwill	11,485			(11,485		)	—
Core deposit intangible	—			7,840			7,840
Other intangibles	—			830			830
Other assets	2,639			(1		)	2,638
Total assets acquired	$	468,829		$	(5,905	)	$	462,924

(In thousands)	Acquired from Hardeman		Fair Value Adjustments			Fair Value
Liabilities Assumed
Deposits:
Non-interest bearing transaction accounts	$	76,555	$	—		$	76,555
Interest bearing transaction accounts and savings deposits	214,872		—			214,872
Time deposits	97,917		(368		)	97,549
Total deposits	389,344		(368		)	388,976
Securities sold under agreement to repurchase	17,163		—			17,163
Other borrowings	3,000		—			3,000
Subordinated debentures	6,702		—			6,702
Accrued interest and other liabilities	1,891		1,924			3,815
Total liabilities assumed	418,100		1,556			419,656
Equity	50,729		(50,729		)	—
Total equity assumed	50,729		(50,729		)	—
Total liabilities and equity assumed	$	468,829	$	(49,173	)	$	419,656
Net assets acquired						43,268
Purchase price						72,639
Goodwill						$	29,371

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			(1,873		)	286,110
Loans acquired	1,138,527			(41,657		)	1,096,870
Allowance for loan losses	(10,808		)	10,808			—
Foreclosed assets	11,092			(5,180		)	5,912
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	25,165			6,911			32,076
Total assets acquired	$	1,549,954		$	(15,642	)	$	1,534,312

(In thousands)	Acquired from Reliance		Fair Value Adjustments			Fair Value
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		268			8,453
Total liabilities assumed	1,412,289		(7,023		)	1,405,266
Equity	137,665		(137,665		)	—
Total equity assumed	137,665		(137,665		)	—
Total liabilities and equity assumed	$	1,549,954	$	(144,688	)	$	1,405,266
Net assets acquired						129,046
Purchase price						207,539
Goodwill						$	78,493

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

(In thousands)	Acquired from First Texas			Fair Value Adjustments			Fair Value
Assets Acquired
Cash and due from banks	$	59,277		$	—		$	59,277
Investment securities	81,114			(596		)	80,518
Loans acquired	2,246,212			(37,834		)	2,208,378
Allowance for loan losses	(20,864		)	20,664			(200		)
Premises and equipment	24,864			10,123			34,987
Bank owned life insurance	7,190			—			7,190
Goodwill	37,227			(37,227		)	—
Core deposit intangible	—			7,328			7,328
Other assets	18,263			11,485			29,748
Total assets acquired	$	2,453,283		$	(26,057	)	$	2,427,226
Liabilities Assumed
Deposits:
Non-interest bearing transaction accounts	$	74,410		$	—		$	74,410
Interest bearing transaction accounts and savings deposits	1,683,298			—			1,683,298
Time deposits	124,233			(283		)	123,950
Total deposits	1,881,941			(283		)	1,881,658
Securities sold under agreement to repurchase	50,000			—			50,000
Other borrowings	235,000			—			235,000
Subordinated debentures	30,323			589			30,912
Accrued interest and other liabilities	11,727			1,669			13,396
Total liabilities assumed	2,208,991			1,975			2,210,966
Equity	244,292			(244,292		)	—
Total equity assumed	244,292			(244,292		)	—
Total liabilities and equity assumed	$	2,453,283		$	(242,317	)	$	2,210,966
Net assets acquired							216,260
Purchase price							457,103
Goodwill							$	240,843

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

(In thousands)	Acquired from Landrum			Fair Value Adjustments			Fair Value
Assets Acquired
Cash and due from banks	$	215,285		$	—		$	215,285
Due from banks - time	248			—			248
Investment securities	1,021,755			4,100			1,025,855
Loans acquired	2,049,137			(43,201		)	2,005,936
Allowance for loan losses	(22,736		)	22,736			—
Foreclosed assets	373			(183		)	190
Premises and equipment	63,878			20,588			84,466
Bank owned life insurance	19,206			—			19,206
Goodwill	407			(407		)	—
Core deposit intangible	—			24,345			24,345
Other intangibles	412			4,704			5,116
Other assets	33,924			(7,251		)	26,673
Total assets acquired	$	3,381,889		$	25,431		$	3,407,320
Liabilities Assumed
Deposits:
Non-interest bearing transaction accounts	$	716,675		$	—		$	716,675
Interest bearing transaction accounts and savings deposits	1,465,429			—			1,465,429
Time deposits	867,197			299			867,496
Total deposits	3,049,301			299			3,049,600
Other borrowings	10,055			—			10,055
Subordinated debentures	34,794			(877		)	33,917
Accrued interest and other liabilities	31,057			(1,748		)	29,309
Total liabilities assumed	3,125,207			(2,326		)	3,122,881
Equity	256,682			(256,682		)	—
Total equity assumed	256,682			(256,682		)	—
Total liabilities and equity assumed	$	3,381,889		$	(259,008	)	$	3,122,881
Net assets acquired							284,439
Purchase price							415,779
Goodwill							$	131,340