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Business Combinations and Asset Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The table below summarizes the net assets acquired (at fair value) and consideration transferred in connection with the Centric acquisition (dollars in thousands):
Consideration paid |  |
Cash paid to shareholders - fractional shares | $ | 1 |  |
Shares issued to shareholders (9,688,478 shares) | 141,355 |  |
Total consideration paid |  | $ | 141,356 |
Fair value of assets acquired |  |
Cash and due from banks | 14,492 |  |
Investment securities | 34,302 |  |
FHLB stock | 7,658 |  |
Loans | 923,555 |  |
Premises and equipment | 17,186 |  |
Core deposit intangible | 16,671 |  |
Bank owned life insurance | 4,502 |  |
Other assets | 17,391 |  |
Total assets acquired | 1,035,757 |  |
Fair value of liabilities assumed |  |
Deposits | 757,003 |  |
Borrowings | 179,301 |  |
Other liabilities | 18,484 |  |
Total liabilities assumed | 954,788 |  |
Total fair value of identifiable net assets |  | 80,969 |
Goodwill |  | $ | 60,387 |
Schedule of PCD Loans Purchased in Business Acquisition | The following table provides details related to the fair value of acquired PCD loans as of February 1, 2023.
| Unpaid Principal Balance |  | PCD Allowance for Credit Loss at Acquisition |  | (Discount) Premium on Acquired Loans |  | Fair Value of PCD Loans at Acquisition
| (dollars in thousands)
Commercial, financial, agricultural and other | $ | 84,095 |  |  | $ | (19,417) |  |  | $ | 117 |  |  | $ | 64,795 |
Time and demand | 84,095 |  |  | (19,417) |  |  | 117 |  |  | 64,795 |
Real estate construction | 29,947 |  |  | (287) |  |  | (479) |  |  | 29,181 |
Construction other | 16,978 |  |  | (227) |  |  | (179) |  |  | 16,572 |
Construction residential | 12,969 |  |  | (60) |  |  | (300) |  |  | 12,609 |
Residential real estate | 16,564 |  |  | (527) |  |  | (496) |  |  | 15,541 |
Residential first lien | 13,740 |  |  | (197) |  |  | (264) |  |  | 13,279 |
Residential junior lien/home equity | 2,824 |  |  | (330) |  |  | (232) |  |  | 2,262 |
Commercial real estate | 174,002 |  |  | (6,971) |  |  | (6,073) |  |  | 160,958 |
Multifamily | 13,169 |  |  | (234) |  |  | (1,413) |  |  | 11,522 |
Nonowner occupied | 97,324 |  |  | (2,739) |  |  | (1,902) |  |  | 92,683 |
Owner occupied | 63,509 |  |  | (3,998) |  |  | (2,758) |  |  | 56,753 |
Loans to individuals | 62 |  |  | (3) |  |  | (3) |  |  | 56 |
Automobile and recreational vehicles | 62 |  |  | (3) |  |  | (3) |  |  | 56 |
Total loans and leases | $ | 304,670 |  |  | $ | (27,205) |  |  | $ | (6,934) |  |  | $ | 270,531 |
Schedule of nonPCD Loans Purchased in Business Acquisition | The following table provides details related to the fair value and Day 1 provision related to the acquired non-PCD loans as of February 1, 2023.
| Unpaid Principal Balance |  | (Discount) premium on acquired loans |  | Fair Value of Non-PCD Loans at Acquisition |  | Day 1 Provision for Credit Losses - Non-PCD Loans
| (dollars in thousands)
Commercial, financial, agricultural and other | $ | 167,606 |  |  | $ | (5,451) |  |  | $ | 162,155 |  |  | $ | 3,482 |
Time and demand | 165,878 |  |  | (5,342) |  |  | 160,536 |  |  | 3,436 |
Equipment finance | 4 |  |  | — |  |  | 4 |  |  | — |
Time and demand other | 1,724 |  |  | (109) |  |  | 1,615 |  |  | 46 |
Real estate construction | 52,773 |  |  | (1,126) |  |  | 51,647 |  |  | 1,638 |
Construction other | 34,801 |  |  | (971) |  |  | 33,830 |  |  | 1,146 |
Construction residential | 17,972 |  |  | (155) |  |  | 17,817 |  |  | 492 |
Residential real estate | 75,041 |  |  | (2,593) |  |  | 72,448 |  |  | 614 |
Residential first lien | 53,612 |  |  | (1,981) |  |  | 51,631 |  |  | 437 |
Residential junior lien/home equity | 21,429 |  |  | (612) |  |  | 20,817 |  |  | 177 |
Commercial real estate | 378,777 |  |  | (12,607) |  |  | 366,170 |  |  | 4,911 |
Multifamily | 45,475 |  |  | (1,203) |  |  | 44,272 |  |  | 514 |
Nonowner occupied | 182,793 |  |  | (5,660) |  |  | 177,133 |  |  | 2,111 |
Owner occupied | 150,509 |  |  | (5,744) |  |  | 144,765 |  |  | 2,286 |
Loans to individuals | 640 |  |  | (36) |  |  | 604 |  |  | 8 |
Automobile and recreational vehicles | 449 |  |  | (25) |  |  | 424 |  |  | 4 |
Consumer other | 191 |  |  | (11) |  |  | 180 |  |  | 4 |
Total loans and leases | $ | 674,837 |  |  | $ | (21,813) |  |  | $ | 653,024 |  |  | $ | 10,653 |
Business Combination, Segment Allocation | The following table presents the change in goodwill during the period (dollars in thousands):
|  | For the Nine Months Ended September 30, 2023
Goodwill at December 31, 2022 |  | $ | 303,328 |
Goodwill from Centric acquisition |  | 60,387 |
Goodwill at September 30, 2023 |  | $ | 363,715 |

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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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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