XML 73 R22.htm IDEA: XBRL DOCUMENT v3.19.3
Business Combinations (Tables)
9 Months Ended
Sep. 30, 2019
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
The table below summarizes the amounts recognized for the estimated fair value of assets acquired and the liabilities assumed as of the acquisition date.
 
           
 
August 10, 2018
 
(Dollars in thousands)
Merger Consideration
 
 
 
 
 
 
  Cash paid
  $
180,719
 
 
  CVBF common stock issued
 
722,767
 
 
           
  Total merger consideration
 
    $
903,486
           
Identifiable net assets acquired, at fair value
 
   
  Assets Acquired
 
   
  Cash and cash equivalents
 
47,802
   
  Investment securities
 
716,996
   
  FHLB stock
 
17,250
   
  Loans
 
2,738,100
   
  Accrued interest receivable
 
7,916
   
  Premises and equipment
 
14,632
   
  BOLI
 
70,904
   
  Core deposit intangible
 
52,200
   
  Other assets
 
53,291
   
           
  Total assets acquired
 
   
3,719,091
  Liabilities assumed
 
   
  Deposits
 
2,869,986
   
  FHLB advances
 
297,571
   
  Other borrowings
 
166,000
   
  Other liabilities
 
29,192
   
           
  Total liabilities assumed
 
   
3,362,749
           
  Total fair value of identifiable net assets, at fair value
 
   
356,342
           
Goodwill
 
 
  $
547,144
           
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business Acquisition, Pro Forma Information [Table Text Block] As a result, actual amounts would have differed from the unaudited pro forma information presented.
 
Unaudited Pro Forma
 
 
  Three Months Ended
 
 
Nine Months Ended  
 
 
September 30, 2018
 
 
(Dollars in thousands, except per share amounts)
 
 
 
 
 
 
 
 
 
 
Total revenues (net interest income plus noninterest income)
 
  $
 120,467
 
 
  $
 364,846
 
Net income
 
  $
44,623
 
 
  $
 138,274
 
Earnings per share - basic
 
  $
0.32
 
 
  $
0.99
 
Earnings per share - diluted
 
  $
0.32
 
 
  $
0.99