XML 39 R29.htm IDEA: XBRL DOCUMENT
v3.24.2

Acquisition Activities | 6 Months Ended
--- | ---
Jun. 30, 2024
Acquisition Activities |
Acquisition Activities | Note 19 Acquisition Activities ​ Cambr Solutions, LLC ​ On April 3, 2023, NBH Bank completed the acquisition of Cambr Solutions, LLC. Upon closing, Cambr became a stand-alone subsidiary of NBH Bank. The transaction was valued at $46.5 million in the aggregate. NBH Bank determined that the acquisition constituted a business combination as defined in ASC Topic 805, Business Combinations. Accordingly, as of the date of the acquisition, the Company recorded the assets acquired and liabilities assumed at fair value. The Company determined fair values in accordance with the guidance provided in ASC Topic 820, Fair Value Measurements and Disclosures. In many cases, the determination of these fair values required management to make estimates about discount rates, future expected cash flows, market conditions and other future events that are highly subjective in nature and subject to change. Actual results could differ materially. ​ Cambr is a deposit acquisition and processing platform that generates core deposits from accounts offered through embedded finance companies. At the time of acquisition, Cambr administered approximately $1.7 billion of deposits comprising more than 500,000 FDIC-insured deposit accounts. ​ Cambr acquisition-related costs totaled $1.0 million for the year ended December 31, 2023. The results of Cambr are included in the results of the Company subsequent to the acquisition date. ​ The table below summarizes net assets acquired (at fair value) and consideration transferred in connection with the Cambr acquisition: ​
​ | ​ | ​ | ​
​ | ​ | April 3, 2023
Assets: | ​ | ​ | ​
Cash and due from banks | ​ | $ | 1,224
Other intangibles | ​ | ​ | 18,000
Other assets | ​ | ​ | 6,729
Total assets acquired | ​ | ​ | 25,953
​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​
Other liabilities | ​ | $ | 6,340
Total liabilities assumed | ​ | ​ | 6,340
​ | ​ | ​ | ​
Identifiable net assets acquired | ​ | $ | 19,613
​ | ​ | ​ | ​
Consideration: | ​ | ​ | ​
Cash | ​ | $ | 46,524
Total | ​ | ​ | 46,524
​ | ​ | ​ | ​
Goodwill | ​ | $ | 26,911
​ In connection with the Cambr acquisition, the Company recorded $26.9 million of goodwill. The amount of goodwill recorded reflects the expanded market presence, synergies and operational efficiencies that are expected to result from the acquisition. The total amount of goodwill expected to be deductible for tax purposes is $27.8 million. The Company recorded other intangible assets of $18.0 million, including intangibles related to customer relationships and internally developed technology. The other intangible assets were valued by discounting future cash flows to present value. The discount rates applied were derived using market participant assumptions. ​ The other intangible assets are being amortized over a weighted average period of 9.4 years.

X
- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805/tableOfContent + Details
Name: | us-gaap_BusinessCombinationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration