XML 58 R40.htm IDEA: XBRL DOCUMENT v3.25.0.1
Business Combinations and Asset Acquisitions (Tables)
 12 Months Ended
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 AdjustmentsAs Recorded by HBI
(Dollars in thousands)
Assets
Cash and due from banks$112,999 $(446)$112,553 
Interest-bearing deposits with other banks746,031 — 746,031 
Cash and cash equivalents859,030 (446)858,584 
Investment securities - available-for-sale, net of allowance for credit losses1,773,540 8,485 1,782,025 
Total investment securities1,773,540 8,485 1,782,025 
Loans receivable3,657,009 (4,389)3,652,620 
Allowance for credit losses(42,224)25,408 (16,816)
Loans receivable, net3,614,785 21,019 3,635,804 
Bank premises and equipment, net153,642 (12,270)141,372 
Foreclosed assets held for sale193 (77)116 
Cash value of life insurance105,049 3 105,052 
Accrued interest receivable31,575 — 31,575 
Deferred tax asset, net32,908 (1,092)31,816 
Goodwill130,428 (130,428)— 
Core deposit intangible10,672 31,591 42,263 
Other assets43,330 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 accounts3,519,652 — 3,519,652 
Time deposits401,899 903 402,802 
Total deposits5,854,307 970 5,855,277 
FHLB and other borrowed funds74,212 4,118 78,330 
Accrued interest payable and other liabilities50,889 (1,892)48,997 
Subordinated debentures159,965 7,625 167,590 
Total liabilities assumed6,139,373 10,821 6,150,194 
Equity
Total equity assumed615,779 (615,779)— 
Total liabilities and equity assumed$6,755,152 $(604,958)$6,150,194 
Net assets acquired537,310 
Purchase price962,538 
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 income188,012 
Net income available to all shareholders406,949 
Basic earnings per common share$1.98 
Diluted earnings per common share1.98 
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 loans684 
Purchase price$148,896