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Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2023
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
As of February 1, 2022 |  |  |  |
Assets acquired: |  |  |  |
Cash and cash equivalents |  |  |  | $ | 2,006.9 |
Investment securities |  |  |  | 2,699.0 |
Securities purchased under agreement to resell |  |  |  | 101.1 |
Loans held for sale |  |  |  | 217.0 |
Loans held for investment |  |  |  | 7,705.0 |
Allowance for credit losses |  |  |  | (59.5) |
Premises and equipment, including right of use lease assets |  |  |  | 144.7 |
OREO |  |  |  | 15.8 |
Company-owned life insurance |  |  |  | 186.6 |
Core deposit intangibles |  |  |  | 50.1 |
Customer relationship intangible |  |  |  | 22.8 |
Mortgage servicing rights |  |  |  | 1.3 |
Deferred tax assets, net |  |  |  | 60.2 |
Other assets |  |  |  | 200.8 |
Total assets acquired |  |  |  | 13,351.8 |
Liabilities assumed: |  |  |  |
Deposits |  |  |  | 11,688.0 |
Securities sold under repurchase agreements |  |  |  | 74.0 |
Accrued expenses and other liabilities |  |  |  | 110.4 |
FHLB advances |  |  |  | 122.9 |
Subordinated debt |  |  |  | 36.4 |
Subordinated debentures held by subsidiary trusts |  |  |  | 76.1 |
Total liabilities assumed |  |  |  | 12,107.8 |
Net assets acquired |  |  |  | $ | 1,244.0 |
Consideration paid: |  |  |  |
Class A common stock |  |  |  | 1,723.3 |
Total consideration paid (1) |  |  |  | $ | 1,723.3 |
Goodwill |  |  |  | $ | 479.3 |
(1) Includes $13 thousand of cash paid in lieu of fractional shares.
Schedule of Pro Forma Financial Information | The following table presents certain unaudited pro forma financial information for illustrative purposes only, for the three month period ended March 31, 2022 as if GWB had been acquired on January 1, 2021. This unaudited pro forma information combines the historical results of GWB with the Company’s consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods. The pro forma information is not indicative of what would have occurred had the acquisition occurred at the beginning of the year prior to the acquisition. The unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value, cost savings, or business synergies. As a result, actual amounts would have differed from the unaudited pro forma information presented, and the differences could be significant.
|  | Three Months Ended March 31, |  |
|  | 2022 |  |  |
Total revenues |  | $ | 268.9 |  |  |  |
Net income |  | $ | 76.4 |  |  |  |
Earnings per common share (Basic) |  | $ | 0.70 |  |  |  |
Earnings per common share (Diluted) |  | $ | 0.70 |  |  |  |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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