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Business Combinations (Tables) | 6 Months Ended
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Jun. 30, 2015
Business Combinations [Abstract] |
Summary of Consideration, Assets Acquired and Liabilities Assumed | The following table summarizes total consideration, assets acquired and liabilities assumed as of June 30, 2015:
(dollars in thousands) |
Consideration Paid |
Cash | $ | 29,510 |
Common stock | 142,469 |
Fair Value of Total Consideration | $ | 171,979 |
Fair Value of Assets Acquired |
Cash and cash equivalents | $ | 13,163 |
Securities and other investments | 11,502 |
Loans | 788,687 |
Bank owned life insurance | 15,974 |
Premises and equipment | 10,855 |
Core deposit intangible | 5,713 |
Other assets | 19,555 |
Total Assets Acquired | 865,449 |
Fair Value of Liabilities Assumed |
Deposits | 722,308 |
Borrowings | 82,286 |
Other liabilities | 4,259 |
Total Liabilities Assumed | 808,853 |
Total Fair Value of Identifiable Net Assets | 56,596 |
Goodwill | $ | 115,383 |
Schedule of Pro Forma Information | The following table presents unaudited pro forma financial information which combines the historical consolidated statements of income of S&T and Integrity to give effect to the Merger as if it had occurred on January 1, 2014, for the periods presented.
| Unaudited Pro Forma Information
| Three Months Ended June 30, |  | Six Months Ended June 30,
(dollars in thousands, except per share data) | 2015 |  | 2014 |  |  | 2015 |  | 2014 |
Total revenue(1) | $ | 60,307 |  | $ | 57,921 |  |  | $ | 118,992 |  | $ | 115,045 |
Net income (2) | $ | 18,816 |  | $ | 17,765 |  |  | $ | 32,728 |  | $ | 33,697 |
Earnings per common share: (2) |  |  |  |  |
Basic | $ | 0.54 |  | $ | 0.51 |  |  | $ | 0.95 |  | $ | 0.97 |
Diluted | $ | 0.54 |  | $ | 0.51 |  |  | $ | 0.94 |  | $ | 0.97 |
(1)Total pro forma revenue is defined as net interest income plus non-interest income, excluding gains and losses on sales of investment securities available-for-sale. (2)Excludes merger expenses

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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 3 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1486-128463 Reference 2: 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=56956515&loc=d3e1392-128463 + Details
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