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Acquisitions and Preliminary Purchase Price Allocation Acquisitions and Preliminary Purchase Price Allocation (Tables) | 3 Months Ended
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Mar. 31, 2019
Business Combinations [Abstract] |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The Company accounted for both acquisitions using the acquisition method pursuant to "Topic 805 Business Combinations" of the FASB Accounting Standards Codification. The acquisition method requires the acquirer to recognize the assets acquired and the liabilities assumed at their fair values as of the acquisition date. The following table summarizes the estimated fair value of the assets acquired and liabilities assumed as of the date of acquisition (in thousands):
| Farmers |  |
| Deposit | Poage | Total
Consideration | $ | 24,900 |  | $ | 83,936 |  | $ | 108,836 |
Identifiable assets: |  |  |
Cash and cash equivalents | 4,173 |  | 34,325 |  | 38,498 |
Investment securities | 46,235 |  | 72,321 |  | 118,556 |
Loans | 58,516 |  | 304,359 |  | 362,875 |
Bank owned life insurance | — |  | 7,439 |  | 7,439 |
Premises and equipment | 768 |  | 4,547 |  | 5,315 |
Deferred tax assets, net | (188 | ) | 2,379 |  | 2,191 |
Other assets | 2,302 |  | 8,799 |  | 11,101 |
Total identifiable assets | 111,806 |  | 434,169 |  | 545,975 |
Identifiable liabilities: |  |  |
Deposits | 92,241 |  | 379,285 |  | 471,526 |
Short-term borrowings | 2,025 |  | — |  | 2,025 |
Long-term debt | — |  | 4,053 |  | 4,053 |
Other liabilities | 651 |  | 3,054 |  | 3,705 |
Total identifiable liabilities | 94,917 |  | 386,392 |  | 481,309 |
Net identifiable assets | 16,889 |  | 47,777 |  | 64,666 |
Goodwill | 4,677 |  | 28,105 |  | 32,782 |
Core deposit intangible | 3,334 |  | 8,054 |  | 11,388 |
| $ | 24,900 |  | $ | 83,936 |  | $ | 108,836 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period | Acquired Loans The following table presents information regarding the purchased credit-impaired and noncredit-impaired loans acquired in conjunction with both acquisitions (in thousands):
| At | As of
Acquired Credit-Impaired | Acquisition | March 31, 2019
Contractually required principal and interest | $ | 25,315 |  | $ | 20,528 |
Contractual cash flows not expected to be collected (non-accretable difference) | (13,593 | ) | (10,115 | )
Expected cash flows | 11,722 |  | 10,413 |
Interest component of expected cash flows (accretable difference) | (2,375 | ) | (2,349 | )
Carrying value of purchased credit-impaired loans acquired | $ | 9,347 |  | $ | 8,064 |
Acquired Noncredit-Impaired |  |
Outstanding balance | $ | 354,374 |  | $ | 344,780 |
Less: fair value adjustment | (846 | ) | (653 | )
Carrying value of acquired noncredit-impaired loans | $ | 353,528 |  | $ | 344,127 |
Schedule of Goodwill | Goodwill Under GAAP, management has up to twelve months following the date of the acquisition to finalize the fair value of acquired assets and liabilities. The measurement period ends as soon as the Company receives information it was seeking about facts and circumstances that existed as of the acquisition date or learns that more information is not obtainable. Any subsequent adjustments to the fair value of the acquired assets and liabilities, intangible assets or other purchase accounting adjustments will result in adjustments to the goodwill recorded. Among the items that are still preliminary at March 31, 2019, is the finalization of the final tax returns for both entities, which management anticipates completing during 2019. Given the form of the respective transactions, the $4.7 million goodwill preliminarily recorded in conjunction with the Farmers Deposit acquisition is expected to be deductible for tax purposes, while the $28.1 million goodwill preliminarily recorded in conjunction with the Poage acquisition is not expected to be deductible for tax purposes. The following table summarizes adjustments to goodwill subsequent to December 31, 2018 (in thousands):
| Goodwill
Balance at December 31, 2018 | $ | 109,567 |
Adjustment to goodwill acquired in conjunction with the acquisition of Poage | (529 | )
Adjustment to goodwill acquired in conjunction with the acquisition of Farmers Deposit | (61 | )
Balance at March 31, 2019 | $ | 108,977 |

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- Definition Tabular disclosure of the reconciliation of contractual cash flows to the carrying amount relating to certain loans acquired in a transfer. + References No definition available. + Details
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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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