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BUSINESS COMBINATIONS (Tables) | 6 Months Ended
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Jun. 30, 2022
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table provides the purchase price calculation as of the acquisition date, identifiable assets purchased and liabilities assumed at their estimated fair value.
(Dollars in thousands) | Summit
Purchase consideration |
Cash consideration | $ | 102,994 |
Liabilities paid with cash concurrent with close | 10,487 |
Stock consideration | 10,000 |
Earn out | 3,606 |
Total purchase consideration | 127,087 |
Assets acquired |
Cash | 4,456 |
Finance leases | 41,840 |
Premises and equipment | 707 |
Operating leases | 75,347 |
Intangible assets | 34,585 |
Other assets | 29,865 |
Total assets acquired | 186,800 |
Liabilities assumed |
Long-term borrowings | 96,412 |
Other liabilities | 25,489 |
Total liabilities assumed | 121,901 |
Net identifiable assets | 64,899 |
Goodwill | $ | 62,188 |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustments |

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- Definition Tabular disclosure of the nature and amount of any material, nonrecurring adjustments directly attributable to the business combination(s) included in the reported pro forma revenue and earnings (supplemental pro forma information). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(4) -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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