XML 55 R36.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Acquisitions (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract] |
Summary of Assets Acquired and Liabilities Assumed | A summary, at fair value, of the assets acquired and liabilities assumed in the Landmark acquisition, as of the acquisition date, is as follows:
(In thousands) | Acquired from Landmark |  | Fair Value Adjustments |  | Fair Value
Assets Acquired |  |  |  |  |
Cash and due from banks | $ | 27,591 |  |  | $ | — |  |  | $ | 27,591 |
Due from banks - time | 100 |  |  | — |  |  | 100 |
Investment securities | 114,793 |  |  | (265) |  |  | 114,528 |
Loans acquired | 785,551 |  |  | 3,767 |  |  | 789,318 |
Allowance for credit losses on loans | (5,980) |  |  | 3,621 |  |  | (2,359) |
Premises and equipment | 9,540 |  |  | (4,099) |  |  | 5,441 |
Bank owned life insurance | 21,287 |  |  | — |  |  | 21,287 |
Core deposit intangible | 88 |  |  | 4,071 |  |  | 4,159 |
Other assets | 13,036 |  |  | (4,608) |  |  | 8,428 |
Total assets acquired | $ | 966,006 |  |  | $ | 2,487 |  |  | $ | 968,493 |
(In thousands) | Acquired from Landmark |  | Fair Value Adjustments |  | Fair Value
Liabilities Assumed |  |  |  |  |
Deposits: |  |  |  |  |
Non-interest bearing transaction accounts | $ | 110,393 |  |  | $ | — |  |  | $ | 110,393 |
Interest bearing transaction accounts and savings deposits | 425,777 |  |  | — |  |  | 425,777 |
Time deposits | 266,835 |  |  | (334) |  |  | 266,501 |
Total deposits | 803,005 |  |  | (334) |  |  | 802,671 |
Other borrowings | 47,023 |  |  | — |  |  | 47,023 |
Accrued interest and other liabilities | 8,459 |  |  | (3,122) |  |  | 5,337 |
Total liabilities assumed | 858,487 |  |  | (3,456) |  |  | 855,031 |
Equity | 107,519 |  |  | (107,519) |  |  | — |
Total equity assumed | 107,519 |  |  | (107,519) |  |  | — |
Total liabilities and equity assumed | $ | 966,006 |  |  | $ | (110,975) |  |  | $ | 855,031 |
Net assets acquired |  |  |  |  | 113,462 |
Purchase price |  |  |  |  | 145,195 |
Goodwill |  |  |  |  | $ | 31,733 |
A summary, at fair value, of the assets acquired and liabilities assumed in the Triumph acquisition, as of the acquisition date, is as follows:
(In thousands) | Acquired from Triumph |  | Fair Value Adjustments |  | Fair Value
Assets Acquired |  |  |  |  |
Cash and due from banks | $ | 7,484 |  |  | $ | — |  |  | $ | 7,484 |
Due from banks - time | 495 |  |  | — |  |  | 495 |
Investment securities | 130,571 |  |  | (1,106) |  |  | 129,465 |
Loans acquired | 702,460 |  |  | (2,020) |  |  | 700,440 |
Allowance for credit losses on loans | (12,617) |  |  | 1,525 |  |  | (11,092) |
Premises and equipment | 2,774 |  |  | 484 |  |  | 3,258 |
Goodwill | 1,550 |  |  | (1,550) |  |  | — |
Core deposit intangible | — |  |  | 5,136 |  |  | 5,136 |
Other assets | 12,806 |  |  | 209 |  |  | 13,015 |
Total assets acquired | $ | 845,523 |  |  | $ | 2,678 |  |  | $ | 848,201 |
Liabilities Assumed |  |  |  |  |
Deposits: |  |  |  |  |
Non-interest bearing transaction accounts | $ | 115,729 |  |  | $ | — |  |  | $ | 115,729 |
Interest bearing transaction accounts and savings deposits | 383,434 |  |  | — |  |  | 383,434 |
Time deposits | 219,477 |  |  | 1,094 |  |  | 220,571 |
Total deposits | 718,640 |  |  | 1,094 |  |  | 719,734 |
Other borrowings | 2,854 |  |  | — |  |  | 2,854 |
Subordinated debentures | 30,700 |  |  | — |  |  | 30,700 |
Accrued interest and other liabilities | 2,882 |  |  | 455 |  |  | 3,337 |
Total liabilities assumed | 755,076 |  |  | 1,549 |  |  | 756,625 |
Equity | 90,446 |  |  | (90,446) |  |  | — |
Total equity assumed | 90,446 |  |  | (90,446) |  |  | — |
Total liabilities and equity assumed | $ | 845,522 |  |  | $ | (88,897) |  |  | $ | 756,625 |
Net assets acquired |  |  |  |  | 91,576 |
Purchase price |  |  |  |  | 130,544 |
Goodwill |  |  |  |  | $ | 38,968 |
A summary, at fair value, of the assets acquired and liabilities assumed in the Landrum acquisition, as of the acquisition date, is as follows:
(In thousands) | Acquired from Landrum |  | Fair Value Adjustments |  | Fair Value
Assets Acquired |  |  |  |  |
Cash and due from banks | $ | 215,285 |  |  | $ | — |  |  | $ | 215,285 |
Due from banks - time | 248 |  |  | — |  |  | 248 |
Investment securities | 1,021,755 |  |  | 4,228 |  |  | 1,025,983 |
Loans acquired | 2,049,137 |  |  | (43,651) |  |  | 2,005,486 |
Allowance for loan losses | (22,736) |  |  | 22,736 |  |  | — |
Foreclosed assets | 373 |  |  | (183) |  |  | 190 |
Premises and equipment | 63,878 |  |  | 18,781 |  |  | 82,659 |
Bank owned life insurance | 19,206 |  |  | — |  |  | 19,206 |
Goodwill | 407 |  |  | (407) |  |  | — |
Core deposit intangible | — |  |  | 24,345 |  |  | 24,345 |
Other intangibles | 412 |  |  | 4,704 |  |  | 5,116 |
Other assets | 33,924 |  |  | (13,290) |  |  | 20,634 |
Total assets acquired | $ | 3,381,889 |  |  | $ | 17,263 |  |  | $ | 3,399,152 |
Liabilities Assumed |  |  |  |  |
Deposits: |  |  |  |  |
Non-interest bearing transaction accounts | $ | 716,675 |  |  | $ | — |  |  | $ | 716,675 |
Interest bearing transaction accounts and savings deposits | 1,465,429 |  |  | — |  |  | 1,465,429 |
Time deposits | 867,197 |  |  | 299 |  |  | 867,496 |
Total deposits | 3,049,301 |  |  | 299 |  |  | 3,049,600 |
Other borrowings | 10,055 |  |  | — |  |  | 10,055 |
Subordinated debentures | 34,794 |  |  | (877) |  |  | 33,917 |
Accrued interest and other liabilities | 31,057 |  |  | 9,869 |  |  | 40,926 |
Total liabilities assumed | 3,125,207 |  |  | 9,291 |  |  | 3,134,498 |
Equity | 256,682 |  |  | (256,682) |  |  | — |
Total equity assumed | 256,682 |  |  | (256,682) |  |  | — |
Total liabilities and equity assumed | $ | 3,381,889 |  |  | $ | (247,391) |  |  | $ | 3,134,498 |
Net assets acquired |  |  |  |  | 264,654 |
Purchase price |  |  |  |  | 415,779 |
Goodwill |  |  |  |  | $ | 151,125 |
A summary, at fair value, of the assets acquired and liabilities assumed in the Reliance transaction, as of the acquisition date, is as follows:
(In thousands) | Acquired from Reliance |  | Fair Value Adjustments |  | Fair Value
Assets Acquired |  |  |  |  |
Cash and due from banks | $ | 25,693 |  |  | $ | — |  |  | $ | 25,693 |
Due from banks - time | 502 |  |  | — |  |  | 502 |
Investment securities | 287,983 |  |  | (1,873) |  |  | 286,110 |
Loans acquired | 1,138,527 |  |  | (41,657) |  |  | 1,096,870 |
Allowance for loan losses | (10,808) |  |  | 10,808 |  |  | — |
Foreclosed assets | 11,092 |  |  | (5,180) |  |  | 5,912 |
Premises and equipment | 32,452 |  |  | (3,001) |  |  | 29,451 |
Bank owned life insurance | 39,348 |  |  | — |  |  | 39,348 |
Core deposit intangible | — |  |  | 18,350 |  |  | 18,350 |
Other assets | 25,165 |  |  | 6,911 |  |  | 32,076 |
Total assets acquired | $ | 1,549,954 |  |  | $ | (15,642) |  |  | $ | 1,534,312 |
(In thousands) | Acquired from Reliance |  | Fair Value Adjustments |  | Fair Value
Liabilities Assumed |  |  |  |  |
Deposits: |  |  |  |  |
Non-interest bearing transaction accounts | $ | 108,845 |  |  | $ | (33) |  |  | $ | 108,812 |
Interest bearing transaction accounts and savings deposits | 639,798 |  |  | — |  |  | 639,798 |
Time deposits | 478,415 |  |  | (1,758) |  |  | 476,657 |
Total deposits | 1,227,058 |  |  | (1,791) |  |  | 1,225,267 |
Securities sold under agreement to repurchase | 14,146 |  |  | — |  |  | 14,146 |
Other borrowings | 162,900 |  |  | (5,500) |  |  | 157,400 |
Accrued interest and other liabilities | 8,185 |  |  | 268 |  |  | 8,453 |
Total liabilities assumed | 1,412,289 |  |  | (7,023) |  |  | 1,405,266 |
Equity | 137,665 |  |  | (137,665) |  |  | — |
Total equity assumed | 137,665 |  |  | (137,665) |  |  | — |
Total liabilities and equity assumed | $ | 1,549,954 |  |  | $ | (144,688) |  |  | $ | 1,405,266 |
Net assets acquired |  |  |  |  | 129,046 |
Purchase price |  |  |  |  | 207,539 |
Goodwill |  |  |  |  | $ | 78,493 |

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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=123413009&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration