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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2013
Business Combinations [Abstract] |
Schedule of Business Acquisition | The purchase price of both acquisitions has been allocated as follows (in thousands):
|  |  | (preliminary) |  |
| Virginia Savings |  | Community |  | Total
Date of acquisition | May 31, 2012 |  | January 10, 2013 |  |
Consideration: |  |  |  |  |
Cash | $ | 4,672 |  |  | $ | 12,738 |  |  | $ | 17,410 |
Common stock | 7,723 |  |  | 27,783 |  |  | 35,506 |
Warrant issued | — |  |  | 725 |  |  | 725 |
| $ | 12,395 |  |  | $ | 41,246 |  |  | $ | 53,641 |
Identifiable assets: |  |  |  |  |
Cash and cash equivalents | $ | 24,943 |  |  | $ | 8,888 |  |  | $ | 33,831 |
Investment securities | 14,082 |  |  | 17,659 |  |  | 31,741 |
Loans | 73,463 |  |  | 370,754 |  |  | 444,217 |
Bank owned life insurance | — |  |  | 6,935 |  |  | 6,935 |
Premises and equipment | 5,158 |  |  | 8,950 |  |  | 14,108 |
Deferred tax asset, net | 4,173 |  |  | 15,228 |  |  | 19,401 |
Other assets | 4,626 |  |  | 7,989 |  |  | 12,615 |
Total identifiable assets | 126,445 |  |  | 436,403 |  |  | 562,848 |
Identifiable liabilities: |  |  |  |  |
Deposits | 122,723 |  |  | 383,070 |  |  | 505,793 |
Other liabilities | 841 |  |  | 22,048 |  |  | 22,889 |
Total identifiable liabilities | 123,564 |  |  | 405,118 |  |  | 528,682 |
Net identifiable asset | 2,881 |  |  | 31,285 |  |  | 34,166 |
Goodwill | 8,241 |  |  | 7,250 |  |  | 15,491 |
Core deposit intangible | 1,273 |  |  | 2,711 |  |  | 3,984 |
| $ | 12,395 |  |  | $ | 41,246 |  |  | $ | 53,641 |
Acquired Loans At Acquisition | The following table presents the purchased credit-impaired loans acquired in conjunction with both acquisitions (in thousands):
| Virginia |  |  |  |
| Savings |  | Community |  | Total
Contractually required principal and interest | $ | 11,567 |  |  | $ | 58,014 |  |  | $ | 69,581 |
Contractual cash flows not expected to be collected (non-accretable difference) | (3,973 | ) |  | (20,724 | ) |  | (24,697 | )
Expected cash flows | 7,594 |  |  | 37,290 |  |  | 44,884 |
Interest component of expected cash flows (accretable difference) | (954 | ) |  | (5,587 | ) |  | (6,541 | )
Estimated fair value of purchased credit impaired loans acquired | $ | 6,640 |  |  | $ | 31,703 |  |  | $ | 38,343 |
A reconciliation of the contractual required principal and interest balance to the basis of purchased credit-impaired loans as of June 30, 2013 is as follows (in thousands):
| Virginia |  |  |  |
| Savings |  | Community |  | Total
Contractual required principal and interest | $ | 7,330 |  |  | $ | 47,850 |  |  | $ | 55,180 |
Nonaccretable difference | (497 | ) |  | (15,526 | ) |  | (16,023 | )
Expected cash flows | 6,833 |  |  | 32,324 |  |  | 39,157 |
Accretable yield | (1,412 | ) |  | (4,479 | ) |  | (5,891 | )
Basis in acquired loans | $ | 5,421 |  |  | $ | 27,845 |  |  | $ | 33,266 |
Schedule Of Intangible Assets | The following table presents a rollforward of the Company’s intangible assets from the beginning of the year (in thousands):
| Intangible Assets
Balance, beginning of period | $ | 2,069 |
Core deposit intangible acquired in conjunction with the acquisition of Community | 2,711 |
Amortization expense | (519 | )
Balance, end of period | $ | 4,261 |
Schedule Of Goodwill | The following table presents a rollforward of goodwill from the beginning of the year (in thousands):
| Goodwill
Balance, beginning of period | $ | 62,988 |
Adjustment to goodwill acquired in conjunction with the acquisition of Virginia Savings | 143 |
Goodwill acquired in conjunction with the acquisition of Community | 7,250 |
Balance, end of period | $ | 70,381 |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1486-128463 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 52 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 51 -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141R -Paragraph F4 -Subparagraph e -Appendix F Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141R -Paragraph 68 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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