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Business Combinations and Asset Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Schedule of Acquisitions | The following table summarizes the consideration transferred and the estimated fair values of identifiable assets acquired and liabilities assumed in connection with the Republic First Transaction:
|  | Estimated Fair Value
|  | (dollars in thousands)
Cash payment received from FDIC |  | $ | 809,920 |
Assets acquired: |  |
Cash and due from banks |  | 208,451 |
Investment securities |  | 1,938,571 |
Loans |  | 2,495,810 |
Premises and equipment |  | 184 |
CDI |  | 92,600 |
FHLB Stock |  | 37,931 |
Accrued interest receivable |  | 16,164 |
Other assets |  | 10,179 |
Total assets |  | 4,799,890 |
Liabilities assumed: |  |
Deposits |  | 4,112,143 |
Borrowings |  | 1,413,751 |
Accrued interest payable |  | 33,444 |
Other liabilities |  | 2,641 |
Total liabilities |  | 5,561,979 |
Net assets acquired: |  | (762,089) |
Gain on acquisition, before income taxes |  | $ | 47,831 |
Gain on acquisition, net of income taxes |  | $ | 36,996 |
The following table presents information with respect to the estimated fair value and unpaid principal balance of acquired loans and leases at the Acquisition Date in connection with the Republic First Transaction:
|  | April 26, 2024
|  | Unpaid Principal Balance |  | Estimated Fair Value
|  | (dollars in thousands)
Real estate - commercial mortgage |  | $ | 1,384,029 |  |  | $ | 1,234,409 |
Commercial and industrial |  | 310,190 |  |  | 279,309 |
Real-estate - residential mortgage |  | 947,144 |  |  | 752,331 |
Real-estate - home equity |  | 90,882 |  |  | 84,369 |
Real-estate - construction |  | 149,047 |  |  | 142,768 |
Consumer |  | 2,638 |  |  | 2,624 |
Total acquired loans |  | $ | 2,883,930 |  |  | $ | 2,495,810 |
The following table summarizes PCD Loans acquired in the Republic First Transaction as of the Acquisition Date:
|  | April 26, 2024
|  | (dollars in thousands)
Book balance of loans with deteriorated credit quality at acquisition |  | $ | 1,014,559 |
Fair value of loans with deteriorated credit quality at acquisition |  | 895,588 |
Fair value discount |  | 118,971 |
PCD Loans credit discount |  | (54,631) |
Non-credit discount |  | $ | 64,340 |

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