XML 104 R61.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
ACQUISITION - COMMERCE BANK ACQUIRED AND LIABILITIES ASSUMED (Details) - USD ($)
$ in Thousands
 1 Months Ended
May 17, 2019
Jun. 30, 2019
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Recognized amounts of identifiable assets acquired and (liabilities) assumed, at fair value:          
Goodwill     $ 553,762 $ 518,325 $ 519,287
SI Financial Group, Inc.          
Consideration paid:          
Company common stock issued to SIFI common shareholders $ 175,804        
Fair value of SIFI stock options converted to Berkshire options 907        
Cash in lieu paid to SIFI shareholders 14        
Total consideration paid 176,725        
Recognized amounts of identifiable assets acquired and (liabilities) assumed, at fair value:          
Cash and short-term investments 110,774        
Investment securities 143,368        
Loans held for sale 1,005        
Loans, net 1,302,739        
Premises and equipment 16,947        
Core deposit intangibles 17,980        
Deferred tax assets, net 17,944        
Goodwill and other intangibles 0        
Other assets 59,664        
Deposits (1,334,848)        
Borrowings (153,009)        
Other liabilities (41,276)        
Total identifiable net assets 141,288        
Goodwill 35,437        
Fair Value Adjustments          
Cash and short-term investments 0        
Investment securities (1,261)        
Loans held for sale 0        
Loans, net (29,388)        
Premises and equipment (2,092)        
Core deposit intangibles 17,980        
Deferred tax assets, net 11,315        
Goodwill and other intangibles (16,063)        
Other assets (984)        
Deposits (7,733)        
Borrowings 1,717        
Other liabilities (7,289)        
Total identifiable net assets (33,798)        
Fair value adjustments, write-off in allowance for loan and lease losses   $ 15,600      
Acquired credit impaired loans 55,754        
Impaired loans, fair value 32,100        
Fair value adjustments, impaired loans   4,200      
Financing receivable not considered impaired at time of acquisition 1,290,000        
Financing receivable not considered impaired at time of acquisition, fair value 1,270,000        
Fair value adjustments, financing receivable not considered impaired at time of acquisition   6,700      
Fair value adjustments, land   1,100      
Fair value adjustments, furniture, fixtures, and equipment   $ 1,000      
Acquired finite-lived intangible assets, estimated useful life   10 years      
Acquired deposits, estimated useful life   11 months      
Fair value adjustments, borrowings   $ 800      
Fair value adjustments, SI Capital Trust II   900      
Fair value adjustments, post-retirement liabilities   6,700      
Fair value adjustments, bank-owned life insurance liabilities   900      
Fair value adjustments, unfunded commitment reserve   $ 400      
Pro Forma | SI Financial Group, Inc.          
Recognized amounts of identifiable assets acquired and (liabilities) assumed, at fair value:          
Cash and short-term investments 110,774        
Investment securities 144,629        
Loans held for sale 1,005        
Loans, net 1,332,127        
Premises and equipment 19,039        
Core deposit intangibles 0        
Deferred tax assets, net 6,629        
Goodwill and other intangibles 16,063        
Other assets 60,648        
Deposits (1,327,115)        
Borrowings (154,726)        
Other liabilities (33,987)        
Total identifiable net assets $ 175,086