XML 69 R36.htm IDEA: XBRL DOCUMENT
v3.22.4

Merger, Acquisition, and Divestiture Activity (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Summary of Business Acquisition | The following table presents a summary of the assets acquired and liabilities assumed, net of the fair value adjustments and the fair value of consideration as of the merger date:
(dollars and shares in thousands) | February 15, 2022
Assets |
Cash and cash equivalents | $ | 1,912,629 |
Investment securities | 3,526,278 |
FHLB/Federal Reserve Bank stock | 106,097 |
Loans held for sale | 13,809 |
Loans, net of allowance for credit losses | 14,298,873 |
Premises and equipment | 111,867 |
Operating lease right-of-use assets | 129,698 |
Accrued interest receivable | 53,502 |
Goodwill | 961,722 |
Other intangible assets | 117,584 |
Company-owned life insurance | 301,025 |
Other assets | 317,258 |
Total assets | $ | 21,850,342 |
Liabilities |
Deposits | $ | 17,249,404 |
Securities sold under agreements to repurchase | 135,194 |
Federal Home Loan Bank advances | 1,158,623 |
Other borrowings | 274,569 |
Accrued expenses and other liabilities | 342,369 |
Total liabilities | $ | 19,160,159 |
Fair value of consideration |
Preferred stock | $ | 243,870 |
Common stock (129,365 shares issued at $18.92 per share) | 2,446,312 |
Total consideration | $ | 2,690,182 |
Schedule of Pro Forma Information | The following table presents supplemental unaudited pro-forma financial information as if the First Midwest merger had occurred on January 1, 2021. The pro-forma financial information is not necessarily indicative of the results of operations that would have occurred had the transaction been effective as of this assumed date.
| Years Ended December 31,
(dollars in thousands) | 2022 |  | 2021
Total revenues (1) | $ | 1,812,333 |  |  | $ | 1,564,287 |
Income before income taxes | 749,009 |  |  | 382,102 |
(1) Includes net interest income and total noninterest income.

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration