XML 44 R33.htm IDEA: XBRL DOCUMENT
v3.20.2

Business Combinations (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2020
Business Acquisition [Line Items] |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following table summarizes the consideration paid in the Carolina Alliance acquisition and the amounts of the assets acquired and liabilities assumed at their fair value:
(in thousands) |
Consideration |
Cash | $ | 28,630 |
Park common shares | 98,275 |
Fair value of total consideration transferred | $ | 126,905 |
Recognized amounts of identifiable assets acquired and liabilities assumed |
Cash and cash equivalents | $ | 23,799 |
Securities | 97,606 |
Loans | 578,577 |
Premises and equipment | 8,337 |
Core deposit intangibles | 8,207 |
Other assets | 32,123 |
Total assets acquired | 748,649 |
Deposits | 632,649 |
Other liabilities | 35,951 |
Total liabilities assumed | 668,600 |
Net identifiable assets | 80,049 |
Goodwill | $ | 46,856 |
The table below presents information with respect to the fair value of acquired loans as well as their book balance at the acquisition date.
(in thousands) | Book Balance |  | Fair Value
Commercial, financial and agricultural | $ | 80,895 |  |  | $ | 80,580 |
Commercial real estate | 281,425 |  |  | 273,855 |
Construction real estate: |  |  |
Commercial | 43,106 |  |  | 42,176 |
Mortgage | 11,130 |  |  | 10,633 |
Residential real estate: |  |  |
Commercial | 48,546 |  |  | 48,684 |
Mortgage | 30,519 |  |  | 30,969 |
HELOC | 40,825 |  |  | 39,853 |
Consumer | 4,813 |  |  | 4,647 |
Leases | 28,589 |  |  | 28,781 |
Purchase credit impaired | 19,850 |  |  | 18,399 |
Total loans | $ | 589,698 |  |  | $ | 578,577 |
Business Acquisition, Pro Forma Information [Table Text Block] | The following table presents supplemental pro forma information as if the Carolina Alliance acquisition had occurred as of January 1, 2019. The unaudited pro forma information includes adjustments for interest income on loans and securities acquired, amortization of intangibles arising from the transaction, depreciation expense on property acquired, interest expense on deposits acquired, and the related tax effects. The pro forma information is not necessarily indicative of the results of operations that would have occurred had the transaction been effected on the assumed date.
| Six months ended June 30, |
(dollars in thousands, except per share data) | 2020 | 2019
Net interest income | $ | 157,422 |  | $ | 150,909 |
Net income | $ | 52,207 |  | $ | 54,616 |
Basic earnings per share | $ | 3.20 |  | $ | 3.29 |
Diluted earnings per share | $ | 3.18 |  | $ | 3.27 |

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_BusinessAcquisitionLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 http://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 http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration