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Business Combinations and Asset Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Recognized Assets Acquired and Liabilities Assumed [Table Text Block] | The table below summarizes the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed:
|  | October 1, 2021
|  | (in thousands)
Merger consideration |  | $ | 256,257 |
Identifiable net assets acquired, at fair value |  |  |  |
Assets acquired |  |  |  |
Cash and cash equivalents |  | $ | 155,180 |  |  |
Investment securities |  | 654,480 |  |  |
FHLB stock |  | 7,463 |  |  |
Loans, net allowance for credit loss |  | 1,084,984 |  |  |
Interest receivable |  | 5,237 |  |  |
Premises and equipment |  | 17,658 |  |  |
Core deposit intangible |  | 15,932 |  |  |
Other assets |  | 41,963 |  |  |
Total assets acquired |  |  |  | 1,982,897 |
Liabilities assumed |  |  |  |
Deposits |  | (1,737,584) |  |  |
Subordinated debentures |  | (10,000) |  |  |
Junior subordinated debentures |  | (10,310) |  |  |
Other liabilities |  | (26,076) |  |  |
Total liabilities assumed |  |  |  | (1,783,970) |
Total fair value of identifiable net assets |  |  |  | 198,927 |
Goodwill |  | $ | 57,330 |
See Note 8, “Goodwill and Other Intangible Assets,” for further discussion of the accounting for goodwill and other intangible assets.
Summary of PCD loans at acquisition [Table Text Block] | The following table provides a summary of these PCD loans at acquisition:
|  | October 1, 2021
|  | (in thousands)
Par value of PCD loans acquired |  | $ | 43,419 |
PCD ACL at acquisition |  | (2,616) |
Non-credit discount on PCD loans |  | (525) |
Purchase price of PCD loans |  | $ | 40,278 |
Business Acquisition, Pro Forma Information [Table Text Block] | For illustrative purposes only, the following table presents certain unaudited pro forma information for the six months ended June 30, 2021. This unaudited, estimated pro forma financial information was calculated as if Bank of Commerce had been acquired as of the beginning of the year prior to the date of acquisition. This unaudited pro forma information combines the historical results of Bank of Commerce with the Company’s consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods. The pro forma information is not indicative of what would have occurred had the acquisition occurred as of the beginning of the year prior to the acquisition. The unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value. Additionally, the pro forma amounts below do not reflect Columbia’s expectations as of the date of the pro forma information of further operating cost savings and other business synergies expected to be achieved, including revenue growth as a result of the acquisition. As a result, actual amounts would have differed from the unaudited pro forma information presented.
|  | Unaudited Pro Forma for the
|  | Six Months Ended June 30,
|  | 2021
|  | (in thousands, except per share amounts)
Total revenues (net interest income plus noninterest income) |  | $ | 324,547 |
Net income |  | $ | 115,073 |
Earnings per share - basic |  | $ | 1.48 |
Earnings per share - diluted |  | $ | 1.48 |
Business acquisition, acquisition-related expenses [Table text block] | The following table shows the impact of the merger-related expenses related to the acquisition of Bank of Commerce for the periods indicated to the various components of noninterest expense:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
|  | (in thousands)
Noninterest Expense |  |  |  |  |  |  |  |
Compensation and employee benefits |  | $ | 569 |  |  | $ | — |  |  | $ | 939 |  |  | $ | — |
Occupancy |  | 101 |  |  | — |  |  | 920 |  |  | — |
Data processing and software |  | 381 |  |  | — |  |  | 1,421 |  |  | — |
Legal and professional fees |  | 153 |  |  | 510 |  |  | 245 |  |  | 510 |
Advertising and promotion |  | — |  |  | — |  |  | 18 |  |  | — |
Other |  | 545 |  |  | — |  |  | 794 |  |  | — |
Total impact of merger-related expenses to noninterest expense |  | $ | 1,749 |  |  | $ | 510 |  |  | $ | 4,337 |  |  | $ | 510 |

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- 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
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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