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Acquisitions (Tables)
 3 Months Ended
Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed The following table summarizes the estimated fair value of acquired assets, identified intangible assets, and liabilities assumed as of January 1, 2023. Following the table is a discussion of valuation approaches utilized in estimating the fair values in accordance with ASC 805-10, "Business Combinations." The $114.5 million in goodwill that resulted from this transaction is non-deductible for tax purposes.
($ in thousands)Fair Value Estimate
Assets acquired:
Cash and cash equivalents$22,610 
Securities available for sale112,363 
Loans, gross996,833 
Allowance for loan losses(5,610)
Premises and equipment20,268 
Core deposit intangible28,840 
Operating right-of-use lease assets732 
Other assets27,163 
Total1,203,199 
Liabilities assumed:
Deposits1,045,308 
Borrowings38,800 
Other liabilities 4,089 
Total1,088,197 
Net identifiable assets acquired115,002 
Less: Total consideration229,489 
Goodwill recorded related to acquisition of GrandSouth$114,487 
Acquired Loan Portfolio at Acquisition Date The following table presents additional information related to the acquired loan portfolio at the acquisition date:
($ in thousands)January 1, 2023
PCD Loans:
Par value$152,487 
Allowance for credit losses(5,610)
Non-credit discount(1,370)
Purchase price145,507 
Non-PCD Loans:
Fair Value845,716 
Gross contractual amounts receivable865,132 
Estimate of contractual cash flows not expected to be collected22,542 
Pro Forma Combined Financial Results Merger-related costs have been excluded from these
amounts and the provisions for credit loss amounts associated with non-PCD loans and unfunded commitments that were discussed above have also been excluded.

($ in thousands)RevenueNet Income
Three Months Ended March 31, 2023
Actual GrandSouth results included in statement of income since acquisition date$15,540 $5,819 
Three Months Ended March 31, 2022
Supplemental consolidated pro forma for the Company as if GrandSouth had been acquired on January 1, 2022110,424 37,467