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BUSINESS COMBINATION (Tables)

9 Months Ended

Sep. 30, 2021

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table summarizes the purchase price consideration and estimated fair values of assets acquired and liabilities assumed from BSPR as of September 1, 2020 under the acquisition method of accounting:

	Fair Value as Originally Recorded			Measurement Period Adjustments			Fair Value as Remeasured
Total purchase price consideration	$	1,277,626		$	3,382		$	1,281,008
Fair value of assets acquired:
Cash and cash equivalents	$	1,684,252		$	-		$	1,684,252
Investment securities		1,167,225			-			1,167,225
Loans:
Residential mortgage loans		807,637			540			808,177
Commercial mortgage loans		740,919			122			741,041
Commercial and Industrial (“C&I”) loans		752,154			(390)			751,764
Consumer loans		214,206			(488)			213,718
Loans, net		2,514,916			(216)			2,514,700
Premises and equipment, net		12,499			-			12,499
Intangible assets		39,232			448			39,680
Other assets		144,008			(195)			143,813
Total assets and identifiable intangible assets acquired		5,562,132			37			5,562,169
Fair value of liabilities assumed:
Deposits	$	4,194,940		$	-		$	4,194,940
Other liabilities		95,869			865			96,734
Total liabilities assumed		4,290,809			865			4,291,674
Fair value of net assets and identifiable intangible assets acquired		1,271,323			(828)			1,270,495
Goodwill	$	6,303		$	4,210		$	10,513

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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 http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472

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