XML 52 R35.htm IDEA: XBRL DOCUMENT
v3.20.4

Business Combinations (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Business Combinations [Abstract] |
Schedule of Estimated Fair Vales of Assets and Liabilities Assumed | The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the date of acquisition from SB One (in thousands):
|  | At July 31, 2020
Assets acquired: |  |
Cash and cash equivalents, net |  | $ | 78,089 |
Available for sale debt securities |  | 231,645 |
Held to maturity debt securities |  | 12,381 |
Federal Home Loan Bank stock |  | 11,216 |
Loans |  | 1,766,115 |
Allowance for credit losses on PCD loans |  | (13,586) |
Loans, net |  | 1,752,529 |
Bank-owned life insurance |  | 37,237 |
Banking premises and equipment |  | 16,620 |
Accrued interest receivable |  | 8,947 |
Goodwill |  | 22,439 |
Other intangibles assets |  | 9,965 |
Foreclosed assets, net |  | 2,441 |
Other assets |  | 12,199 |
Total assets acquired |  | $ | 2,195,708 |
Liabilities assumed: |  |
Deposits |  | 1,757,777 |
Mortgage escrow deposits |  | — |
Borrowed funds |  | 201,582 |
Subordinated debentures |  | 25,074 |
Other liabilities |  | 30,447 |
Total liabilities assumed |  | $ | 2,014,880 |
Net assets acquired |  | $ | 180,828 |
Schedule of Fair Value of Loans Acquired in Acquisition | The table below illustrates the fair value adjustments made to the amortized cost basis in order to present a fair value of the loans acquired (in thousands):
Gross amortized cost basis at July 31, 2020 |  | $ | 1,787,057 |
Interest rate fair value adjustment on all loans |  | 455 |
Credit fair value adjustment on non-PCD loans |  | (21,397) |
Fair value of acquired loans at July 31, 2020 |  | 1,766,115 |
Allowance for credit losses on PCD loans |  | (13,586) |
Fair value of acquired loans, net at July 31, 2020 |  | $ | 1,752,529 |
The table below is a summary of the PCD loans accounted for in accordance with ASC 310-26 that were acquired in the SB One acquisition as of the closing date (in thousands):
Gross amortized cost basis at July 31, 2020 |  | $ | 315,784 |
Interest component of expected cash flows (accretable difference) |  | (7,988) |
Allowance for credit losses on PCD loans |  | (13,586) |
Net PCD loans |  | $ | 294,210 |
The table below is a summary of the PCD loans accounted for in accordance with ASC 310-26 that were acquired in the SB One acquisition at the July 31, 2020 closing date (in thousands):
Gross amortized cost basis at July 31, 2020 |  | $ | 315,784 |
Interest component of expected cash flows (accretable difference) |  | (7,988) |
Fair value of PCD loans |  | 307,796 |
Allowance for credit losses on PCD loans |  | (13,586) |
Net PCD loans |  | $ | 294,210 |

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

X
- Definition Tabular disclosure of information about asset and liability measured at fair value under fair value option. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14210-108612 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14172-108612 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14217-108612 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612 + Details
Name: | us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration