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Business Combination (Tables) | 12 Months Ended
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Dec. 31, 2020
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following table summarizes the consideration paid for Carolina Alliance 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
Purchased 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 acquisitions had occurred as of January 1, 2018. The unaudited pro forma information includes adjustments for interest income on loans and securities acquired, amortization of intangibles arising from the respective transactions, 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 transactions been effected on the assumed date.
| Twelve months ended December 31,
(dollars in thousands, except per share data) | 2019 |  | 2018
Net interest income | $ | 304,540 |  |  | $ | 295,656 |
Net income | 111,463 |  |  | 118,679 |
Basic earnings per share | 6.76 |  |  | 7.18 |
Diluted earnings per share | 6.72 |  |  | 7.12 |

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