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Acquisitions and Preliminary Purchase Price Allocation (Tables) | 9 Months Ended
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Sep. 30, 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 | 58,485 |  | 304,359 |  | 362,844 |
Bank owned life insurance | — |  | 7,439 |  | 7,439 |
Premises and equipment | 568 |  | 4,547 |  | 5,115 |
Deferred tax assets, net | 137 |  | 2,222 |  | 2,359 |
Other assets | 2,302 |  | 8,770 |  | 11,072 |
Total identifiable assets | 111,900 |  | 433,983 |  | 545,883 |
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 |  | 3,032 |  | 3,683 |
Total identifiable liabilities | 94,917 |  | 386,370 |  | 481,287 |
Net identifiable assets | 16,983 |  | 47,613 |  | 64,596 |
Goodwill | 4,583 |  | 28,269 |  | 32,852 |
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 as of the date of acquisition (in thousands):
Acquired Credit-Impaired |
Contractually required principal and interest | $ | 25,315 |
Contractual cash flows not expected to be collected (non-accretable difference) | (13,593 | )
Expected cash flows | 11,722 |
Interest component of expected cash flows (accretable difference) | (2,375 | )
Carrying value of purchased credit-impaired loans acquired | $ | 9,347 |
Acquired Noncredit-Impaired |
Outstanding balance | $ | 354,343 |
Less: fair value adjustment | (846 | )
Carrying value of acquired noncredit-impaired loans | $ | 353,497 |
Schedule of Goodwill | 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 | (365 | )
Adjustment to goodwill acquired in conjunction with the acquisition of Farmers Deposit | (154 | )
Balance at September 30, 2019 | $ | 109,048 |

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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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