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Acquisitions (Tables)

6 Months Ended

Jun. 30, 2021

CAC

Schedule of fair value estimates of assets acquired and liabilities assumed

The following table presents the estimated fair value of CAC’s assets acquired and liabilities assumed as of May 31, 2021 (dollars in thousands):

​

​	​	​	​
​		Fair Value
Assets acquired	​		​
Cash and cash equivalents	​	$	307,339
Securities	​		702,367
Portfolio loans, net of ACL	​		430,491
Premises and equipment	​		17,034
Other intangible assets	​	​	17,340
Mortgage servicing rights	​		629
Other assets	​		8,178
Total assets acquired	​		1,483,378
​	​	​	​
Liabilities assumed	​	​	​
Deposits	​		1,324,396
Other borrowings	​		16,651
Other liabilities	​		18,853
Total liabilities assumed	​		1,359,900
​	​	​	​
Net assets acquired	​	$	123,478
​	​	​	​
Consideration paid:	​	​	​
Cash	​	$	70,358
Common stock	​		59,105
Total consideration paid	​	$	129,463
​	​	​	​
Goodwill	​	$	5,985

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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 http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472

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