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v3.19.3.a.u2

Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2019
First Community |
Schedule of fair value estimates of assets acquired and liabilities assumed | The following table presents the fair value of First Community assets acquired and liabilities assumed as of July 2, 2017 (dollars in thousands):
​ | ​ | ​ | ​
​ | ​ | ​
​ |  | Fair Value
Assets acquired: | ​ |  | ​
Cash and cash equivalents | ​ | $ | 60,686
Securities |  | ​ | 165,843
Loans held for sale |  | ​ | 905
Portfolio loans |  | ​ | 1,096,583
Premises and equipment |  | ​ | 18,094
OREO |  | ​ | 722
Other intangible assets |  | ​ | 13,979
Other assets |  | ​ | 41,755
Total assets acquired |  | ​ | 1,398,567
​ | ​ | ​ | ​
Liabilities assumed: |  | ​ |
Deposits |  | ​ | 1,134,355
Other borrowings |  | ​ | 125,751
Other liabilities |  | ​ | 11,862
Total liabilities assumed |  | ​ | 1,271,968
​ | ​ | ​ | ​
Net assets acquired | ​ | $ | 126,599
​ | ​ | ​ | ​
Consideration paid: | ​ |  |
Cash | ​ | $ | 24,557
Cash payout of options and restricted stock units | ​ |  | 6,182
Common stock | ​ |  | 211,120
Fair value of stock options assumed | ​ |  | 722
Total consideration paid | ​ | $ | 242,581
​ | ​ | ​ | ​
Goodwill | ​ | $ | 115,982
Schedule of unaudited pro forma results of operations for the acquisition | ​
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Pro Forma | ​
​ | ​ | Year Ended
​ | ​ | ​ | December 31, 2017 | ​
Total revenues (net interest income plus non-interest income) | ​ | $ | 316,417 | ​
Net income | ​ |  | 67,413 | ​
Diluted earnings per common share | ​ |  | 1.47 | ​
Mid Illinois Bancorp, Inc. |
Schedule of fair value estimates of assets acquired and liabilities assumed | The following table presents the fair value of Mid Illinois assets acquired and liabilities assumed as of October 1, 2017 (dollars in thousands):
​ | ​ | ​ | ​
​ | ​ | ​
​ | ​ | Fair Value
Assets acquired: | ​ |  | ​
Cash and cash equivalents | ​ | $ | 39,443
Securities | ​ |  | 208,003
Loans held for sale | ​ |  | 5,031
Portfolio loans | ​ |  | 356,651
Premises and equipment | ​ |  | 16,551
Other intangible assets | ​ |  | 11,531
Other assets | ​ |  | 29,564
Total assets acquired | ​ |  | 666,774
​ | ​ | ​ | ​
Liabilities assumed: | ​ | ​ | ​
Deposits | ​ |  | 505,917
Other borrowings | ​ |  | 61,040
Other liabilities | ​ |  | 10,497
Total liabilities assumed | ​ |  | 577,454
​ | ​ | ​ | ​
Net assets acquired | ​ | $ | 89,320
​ | ​ | ​ | ​
Consideration paid: | ​ | ​ | ​
Cash | ​ | $ | 40,507
Common stock | ​ |  | 97,702
Total consideration paid | ​ | $ | 138,209
​ | ​ | ​ | ​
Goodwill | ​ | $ | 48,889
Banc Ed |
Schedule of fair value estimates of assets acquired and liabilities assumed | ​ The following table presents the fair value of Banc Ed assets acquired and liabilities assumed as of January 31, 2019 (dollars in thousands):
​ | ​ | ​ | ​
​ | ​ | ​
​ | ​ | Fair Value
Assets acquired: | ​ |  | ​
Cash and cash equivalents | ​ | $ | 42,013
Securities | ​ |  | 692,716
Loans held for sale | ​ |  | 2,157
Portfolio loans | ​ |  | 873,336
Premises and equipment | ​ |  | 32,156
Other intangible assets | ​ | ​ | 32,617
Mortgage servicing rights | ​ |  | 6,946
Other assets | ​ |  | 57,332
Total assets acquired | ​ |  | 1,739,273
​ | ​ | ​ | ​
Liabilities assumed: | ​ | ​ | ​
Deposits | ​ |  | 1,439,203
Other borrowings | ​ |  | 63,439
Other liabilities | ​ |  | 20,153
Total liabilities assumed | ​ |  | 1,522,795
​ | ​ | ​ | ​
Net assets acquired | ​ | $ | 216,478
​ | ​ | ​ | ​
Consideration paid: | ​ | ​ | ​
Cash | ​ | $ | 91,400
Common stock | ​ |  | 166,515
Total consideration paid | ​ | $ | 257,915
​ | ​ | ​ | ​
Goodwill | ​ | $ | 41,437
Schedule of unaudited pro forma results of operations for the acquisition | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
​ | ​ | ​ | 2019 | ​ | 2018
Total revenues (net interest income plus non-interest income) | ​ | $ | 409,324 | ​ | $ | 411,633
Net income | ​ |  | 113,640 | ​ | ​ | 118,361
Diluted earnings per common share | ​ |  | 2.03 | ​ | ​ | 2.15

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