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v3.23.1

Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Fair Value of Assets Acquired and Liabilities Assumed | A summary, at fair value, of the assets acquired and liabilities assumed in the Spirit acquisition, as of the acquisition date, is as follows:
(In thousands) | Acquired from Spirit |  | Fair Value Adjustments |  | Fair Value
Assets Acquired |  |  |  |  |
Cash and due from banks | $ | 277,790 |  |  | $ | — |  |  | $ | 277,790 |
Investment securities | 362,088 |  |  | (13,401) |  |  | 348,687 |
Loans acquired | 2,314,085 |  |  | (19,925) |  |  | 2,294,160 |
Allowance for credit losses on loans | (17,005) |  |  | 7,382 |  |  | (9,623) |
Premises and equipment | 84,135 |  |  | (19,074) |  |  | 65,061 |
Bank owned life insurance | 36,890 |  |  | — |  |  | 36,890 |
Goodwill | 77,681 |  |  | (77,681) |  |  | — |
Core deposit and other intangible assets | 6,245 |  |  | 32,386 |  |  | 38,631 |
Other assets | 58,403 |  |  | (3,411) |  |  | 54,992 |
Total assets acquired | $ | 3,200,312 |  |  | $ | (93,724) |  |  | $ | 3,106,588 |
Liabilities Assumed |  |  |  |  |
Deposits: |  |  |  |  |
Noninterest bearing transaction accounts | $ | 825,228 |  |  | $ | (534) |  |  | $ | 824,694 |
Interest bearing transaction accounts and savings deposits | 1,383,663 |  |  | — |  |  | 1,383,663 |
Time deposits | 509,209 |  |  | 1,081 |  |  | 510,290 |
Total deposits | 2,718,100 |  |  | 547 |  |  | 2,718,647 |
Other borrowings | 37,547 |  |  | 503 |  |  | 38,050 |
Subordinated debentures | 36,491 |  |  | 879 |  |  | 37,370 |
Accrued interest and other liabilities | 23,667 |  |  | (3,311) |  |  | 20,356 |
Total liabilities assumed | 2,815,805 |  |  | (1,382) |  |  | 2,814,423 |
Equity | 384,507 |  |  | (384,507) |  |  | — |
Total equity assumed | 384,507 |  |  | (384,507) |  |  | — |
Total liabilities and equity assumed | $ | 3,200,312 |  |  | $ | (385,889) |  |  | $ | 2,814,423 |
Net assets acquired |  |  |  |  | 292,165 |
Purchase price |  |  |  |  | 466,311 |
Goodwill |  |  |  |  | $ | 174,146 |
Business Acquisition, Pro Forma Information | The pro forma financial information is not necessarily indicative of the results of operations if the acquisition had been effective as of this date.
(In thousands, except per share data) | 2022 |  | 2021
Revenue(1) | $ | 912,631 |  |  | $ | 927,061 |
Net income | $ | 264,522 |  |  | $ | 307,752 |
Diluted earnings per share | $ | 2.04 |  |  | $ | 2.40 |
_________________________ (1) Net interest income plus non-interest income.

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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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