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Acquisition (Tables) - Banc Ed | 3 Months Ended
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Mar. 31, 2019
Schedule of fair value estimates of assets acquired and liabilities assumed | The following table presents the estimated fair value of Banc Ed’s assets acquired and liabilities assumed as of January 31, 2019 (dollars in thousands):
|  | Estimated by
|  | First Busey
Assets acquired: |  |  |
Cash and cash equivalents |  | $ | 42,013
Securities |  |  | 692,684
Loans held for sale |  |  | 2,157
Portfolio loans |  |  | 873,336
Premises and equipment |  |  | 31,929
Other intangible assets |  |  | 32,617
Mortgage servicing rights |  |  | 6,946
Other assets |  |  | 57,296
Total assets acquired |  |  | 1,738,978
Liabilities assumed: |  |  |
Deposits |  |  | 1,439,203
Other borrowings |  |  | 63,439
Other liabilities |  |  | 25,079
Total liabilities assumed |  |  | 1,527,721
Net assets acquired |  | $ | 211,257
Consideration paid: |  |  |
Cash |  | $ | 91,400
Common stock |  |  | 166,515
Total consideration paid |  | $ | 257,915
Goodwill |  | $ | 46,658
Schedule of unaudited pro forma results of operations for the acquisition | Only the merger related expenses that have been recognized are included in net income in the table below (dollars in thousands):
|  | Pro Forma
|  | Three Months Ended March 31,
|  | 2019 |  | 2018
Total revenues (net interest income plus non-interest income) |  | $ | 100,652 |  | $ | 101,119
Net income |  |  | 27,390 |  |  | 25,813
Diluted earnings per common share |  |  | 0.49 |  |  | 0.47

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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