BUSINESS COMBINATIONS (Tables) - SWG

6 Months Ended

Jun. 30, 2021

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the finalized fair values of the assets acquired, liabilities assumed and the bargain purchase gain assumed in the SWG transaction, as of the acquisition date ($ in thousands):

			Measurement
	As Initially		Period
	Reported		Adjustments	As Adjusted
Identifiable assets:
Cash and due from banks	$	29,247	—	$	29,247
Investments		89,737	—		89,737
Loans		392,292	—		392,292
Core deposit intangible		4,556	—		4,556
Personal and real property		18,558	—		18,558
Bank owned life insurance		6,963	—		6,963
Other assets		2,589	813		3,402
Total assets		543,942	813		544,755
Liabilities and equity:
Deposits		476,099	—		476,099
Borrowed funds		9,500	—		9,500
Other liabilities		3,461	—		3,461
Total liabilities		489,060	—		489,060
Net assets acquired		54,882	813		55,695
Consideration paid		47,859	(1)		47,858
Bargain purchase gain	$	(7,023)	812	$	(7,835)

Business Combination, Separately Recognized Transactions

The outstanding principal balance and the carrying amount of these loans included in the consolidated balance sheet as of the date of acquisition are as follows ($ in thousands):

	April 3, 2020
Outstanding principal balance	$	394,621
Carrying amount		392,292