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Business Combinations and Asset Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following schedule is a breakdown of the assets acquired and liabilities assumed as of the acquisition date:
| Happy Bancshares, Inc.
| Acquired from Happy |  | Fair Value Adjustments |  | As Recorded by HBI
| (Dollars in thousands)
Assets |  |  |  |  |
Cash and due from banks | $ | 112,999 |  |  | $ | (446) |  |  | $ | 112,553 |
Interest-bearing deposits with other banks | 746,031 |  |  | — |  |  | 746,031 |
Cash and cash equivalents | 859,030 |  |  | (446) |  |  | 858,584 |
Investment securities - available-for-sale, net of allowance for credit losses | 1,773,540 |  |  | 8,485 |  |  | 1,782,025 |
Total investment securities | 1,773,540 |  |  | 8,485 |  |  | 1,782,025 |
Loans receivable | 3,657,009 |  |  | (4,389) |  |  | 3,652,620 |
Allowance for credit losses | (42,224) |  |  | 25,408 |  |  | (16,816) |
Loans receivable, net | 3,614,785 |  |  | 21,019 |  |  | 3,635,804 |
Bank premises and equipment, net | 153,642 |  |  | (12,270) |  |  | 141,372 |
Foreclosed assets held for sale | 193 |  |  | (77) |  |  | 116 |
Cash value of life insurance | 105,049 |  |  | 3 |  |  | 105,052 |
Accrued interest receivable | 31,575 |  |  | — |  |  | 31,575 |
Deferred tax asset, net | 32,908 |  |  | (1,092) |  |  | 31,816 |
Goodwill | 130,428 |  |  | (130,428) |  |  | — |
Core deposit intangible | 10,672 |  |  | 31,591 |  |  | 42,263 |
Other assets | 43,330 |  |  | 15,567 |  |  | 58,897 |
Total assets acquired | $ | 6,755,152 |  |  | $ | (67,648) |  |  | $ | 6,687,504 |
Liabilities |  |  |  |  |
Deposits |  |  |  |  |
Demand and non-interest-bearing | $ | 1,932,756 |  |  | $ | 67 |  |  | $ | 1,932,823 |
Savings and interest-bearing transaction accounts | 3,519,652 |  |  | — |  |  | 3,519,652 |
Time deposits | 401,899 |  |  | 903 |  |  | 402,802 |
Total deposits | 5,854,307 |  |  | 970 |  |  | 5,855,277 |
FHLB and other borrowed funds | 74,212 |  |  | 4,118 |  |  | 78,330 |
Accrued interest payable and other liabilities | 50,889 |  |  | (1,892) |  |  | 48,997 |
Subordinated debentures | 159,965 |  |  | 7,625 |  |  | 167,590 |
Total liabilities assumed | 6,139,373 |  |  | 10,821 |  |  | 6,150,194 |
Equity |  |  |  |  |
Total equity assumed | 615,779 |  |  | (615,779) |  |  | — |
Total liabilities and equity assumed | $ | 6,755,152 |  |  | $ | (604,958) |  |  | $ | 6,150,194 |
Net assets acquired |  |  |  |  | 537,310 |
Purchase price |  |  |  |  | 962,538 |
Goodwill |  |  |  |  | $ | 425,228 |
Business Acquisition, Pro Forma Information | The following schedule represents the unaudited pro forma combined financial information as of the year ended December 31, 2022, assuming the acquisition was completed as of January 1, 2022:
| December 31, 2022
| (In thousands, except per share data)
Total interest income | $ | 935,168 |
Total non-interest income | 188,012 |
Net income available to all shareholders | 406,949 |
Basic earnings per common share | $ | 1.98 |
Diluted earnings per common share | 1.98 |
Purchased Financial Assets with Credit Deterioration | The following table provides a summary of loans purchased as part of the Happy acquisition with credit deterioration at acquisition:
| April 1, 2022
| (In thousands)
Purchased Loans with Credit Deterioration: |
Par value | $ | 165,028 |
Allowance for credit losses at acquisition | (16,816) |
Premium on acquired loans | 684 |
Purchase price | $ | 148,896 |

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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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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