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Subsequent Event | 9 Months Ended
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Sep. 30, 2021
Subsequent Events [Abstract] |
Subsequent Event | Subsequent Event On October 15, 2021, the Company completed its acquisition of Select Bancorp, Inc. (“Select”), the parent company of Select Bank and Trust Company ("Select Bank"), pursuant to an Agreement and Plan of Merger and Reorganization dated June 1, 2021. Based on the exchange ratio in that Agreement of 0.408 shares of Company common stock for each share of Select common stock, the Company issued 7,070,371 shares in the acquisition, with total merger consideration amounting to approximately $325.8 million. Select Bank operated 22 banking locations in North Carolina, South Carolina, and Virginia. As of the acquisition date, Select had assets of $1.8 billion, gross loans of $1.3 billion and deposits of $1.6 billion. As of the filing of this report, the Company has not completed the fair value measurements of the assets, liabilities, and identifiable intangible assets of Select.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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