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Mergers and Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2016
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The following table summarizes the allocation of purchase price to assets and liabilities acquired in connection with the Company’s acquisition of Heritage based on their fair values on July 1, 2015.
Purchase Price: |  |
Shares issued to common shareholders | 8,635,879 |  |
Fair value of common stock on date of issuance | $ | 32.60 |  |
Value of stock paid |  | $ | 281,530 |
Cash paid for fractional shares |  | 26 |
Cash settlement for stock options |  | 5,915 |
Deal charges paid on behalf of Heritage |  | 7,973 |
Total Purchase Price |  | $ | 295,444 |
Net Assets Acquired: |  |
Stockholders’ equity at acquisition date | $ | 160,652 |  |
Increase (decrease) to net assets as a result of fair value adjustments to assets acquired and liabilities assumed: |  |
Securities | (1,401 | ) |
Mortgage loans held for sale | (3,158 | ) |
Loans, net of Heritage’s allowance for loan losses | (16,837 | ) |
Fixed assets | (6,419 | ) |
Intangible assets, net of Heritage’s existing core deposit intangible | 18,193 |  |
Other real estate owned | 1,390 |  |
FDIC loss share indemnification asset | (15,507 | ) |
Other assets | 3,045 |  |
Deposits | (3,776 | ) |
Other liabilities | (7,873 | ) |
Deferred income taxes | (8,077 | ) |
Total Net Assets Acquired |  | 120,232 |
Goodwill resulting from merger(1) |  | $ | 175,212 |
(1) The goodwill resulting from the merger has been assigned to the Community Banks operating segment.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the fair value of assets acquired and liabilities assumed at acquisition date in connection with the merger with Heritage.
Cash and cash equivalents |  | $ | 38,626 |
Securities |  | 177,849 |
Loans, including mortgage loans held for sale, net of unearned income |  | 1,458,411 |
Premises and equipment |  | 42,914 |
Other real estate owned |  | 9,972 |
Intangible assets |  | 187,468 |
Other assets |  | 104,737 |
Total assets |  | 2,019,977 |
Deposits |  | 1,375,354 |
Borrowings |  | 314,656 |
Other liabilities |  | 34,523 |
Total liabilities |  | 1,724,533 |
Business Acquisition, Pro Forma Information | The following unaudited pro forma combined condensed consolidated financial information presents the results of operations for the twelve months ended December 31, 2016 and 2015 of the Company as though the merger with Heritage had been completed as of January 1, 2014. The unaudited estimated pro forma information combines the historical consolidated results of Heritage with the Company’s historical consolidated results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the periods presented. The pro forma information is not indicative of what would have occurred had the acquisition taken place on January 1, 2014. The pro forma information does not include the effect of any cost-saving or revenue-enhancing strategies. Merger expenses are reflected in the period in which they were incurred.
| Twelve Months Ended
| December 31,
| 2016 |  | 2015
Interest income | $ | 329,138 |  |  | $ | 301,226 |
Interest expense | 28,147 |  |  | 21,858 |
Net interest income | 300,991 |  |  | 279,368 |
Provision for loan and lease losses | 7,530 |  |  | 5,050 |
Noninterest income | 137,231 |  |  | 135,379 |
Noninterest expense | 294,915 |  |  | 309,803 |
Income before income taxes | 135,777 |  |  | 99,894 |
Income taxes | 44,847 |  |  | 31,772 |
Net income | $ | 90,930 |  |  | $ | 68,122 |
Earnings per share: |  |  |
Basic | $ | 2.18 |  |  | $ | 1.69 |
Diluted | $ | 2.17 |  |  | $ | 1.68 |

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65885119&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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472 + Details
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