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Business Combinations and Divestitures (Tables)
 6 Months Ended
Jun. 30, 2018
Triumph Healthcare Finance  
Business Acquisition [Line Items]  
Summary of Assets Held for Sale and Consideration Received and Gain on Sale

A summary of the carrying amount of the assets in the Disposal Group and the gain on sale is as follows:

(Dollars in thousands)

 

 

 

 

Carrying amount of assets in the disposal group:

 

 

 

 

Loans

 

$

70,147

 

Premises and equipment, net

 

 

19

 

Goodwill

 

 

1,457

 

Intangible assets, net

 

 

958

 

Other assets

 

 

197

 

Total carrying amount

 

 

72,778

 

Total consideration received

 

 

74,017

 

Gain on sale of division

 

 

1,239

 

Transaction costs

 

 

168

 

Gain on sale of division, net of transaction costs

 

$

1,071

 

 
Triumph Capital Advisors, LLC  
Business Acquisition [Line Items]  
Summary of Assets Held for Sale and Consideration Received and Gain on Sale

A summary of the consideration received and the gain on sale is as follows:

(Dollars in thousands)

 

 

 

 

Consideration received (fair value):

 

 

 

 

Cash

 

$

10,554

 

Loan receivable

 

 

10,500

 

Revenue share

 

 

1,623

 

Total consideration received

 

 

22,677

 

Carrying value of TCA membership interest

 

 

1,417

 

Gain on sale of subsidiary or division

 

 

21,260

 

Transaction costs

 

 

400

 

Gain on sale of subsidiary or division, net of transaction costs

 

$

20,860

 

 
Interstate Capital Corporation  
Business Acquisition [Line Items]  
Summary of Fair Values of the Identifiable Assets Acquired and Liabilities Assumed

A summary of the estimated fair values of assets acquired, liabilities assumed, consideration transferred, and the resulting goodwill is as follows:

(Dollars in thousands)

 

 

 

 

Assets acquired:

 

 

 

 

Cash and cash equivalents

 

$

75

 

Factored receivables

 

 

131,017

 

Premises and equipment

 

 

279

 

Intangible assets

 

 

13,920

 

Other assets

 

 

144

 

 

 

 

145,435

 

Liabilities assumed:

 

 

 

 

Deposits

 

 

7,389

 

Other liabilities

 

 

763

 

 

 

 

8,152

 

Fair value of net assets acquired

 

 

137,283

 

Consideration:

 

 

 

 

Cash paid

 

 

160,258

 

Contingent consideration

 

 

20,000

 

Total consideration

 

 

180,258

 

Goodwill

 

$

42,975

 

 
Valley Bancorp, Inc.  
Business Acquisition [Line Items]  
Summary of Fair Values of the Identifiable Assets Acquired and Liabilities Assumed

A summary of the estimated fair values of assets acquired, liabilities assumed, consideration transferred, and the resulting goodwill is as follows:

(Dollars in thousands)

 

 

 

 

Assets acquired:

 

 

 

 

Cash and cash equivalents

 

$

38,473

 

Securities

 

 

97,687

 

Loans

 

 

171,199

 

FHLB stock

 

 

315

 

Premises and equipment

 

 

6,238

 

Other real estate owned

 

 

2,282

 

Intangible assets

 

 

6,072

 

Bank-owned life insurance

 

 

7,153

 

Other assets

 

 

1,882

 

 

 

 

331,301

 

Liabilities assumed:

 

 

 

 

Deposits

 

 

293,398

 

Junior subordinated debentures

 

 

5,470

 

Other liabilities

 

 

2,881

 

 

 

 

301,749

 

Fair value of net assets acquired

 

 

29,552

 

Consideration transferred

 

 

40,075

 

Goodwill

 

$

10,523

 

 
Summary of Acquired Loans

In connection with the acquisition, the Company acquired loans both with and without evidence of credit quality deterioration since origination. The acquired loans were initially recorded at fair value with no carryover of any allowance for loan and lease losses. Acquired loans were segregated between those considered to be purchased credit impaired (“PCI”) loans and those without credit impairment at acquisition. The following table presents details of the estimated fair value of  acquired loans at the acquisition date:

 

 

Loans,

 

 

 

 

 

 

 

 

 

 

 

Excluding

 

 

PCI

 

 

Total

 

(Dollars in thousands)

 

PCI Loans

 

 

Loans

 

 

Loans

 

Commercial real estate

 

$

73,273

 

 

$

254

 

 

$

73,527

 

Construction, land development, land

 

 

19,770

 

 

 

1,199

 

 

 

20,969

 

1-4 family residential properties

 

 

26,264

 

 

 

—

 

 

 

26,264

 

Farmland

 

 

16,934

 

 

 

—

 

 

 

16,934

 

Commercial

 

 

31,893

 

 

 

—

 

 

 

31,893

 

Factored receivables

 

 

—

 

 

 

—

 

 

 

—

 

Consumer

 

 

1,612

 

 

 

—

 

 

 

1,612

 

Mortgage warehouse

 

 

—

 

 

 

—

 

 

 

—

 

 

 

$

169,746

 

 

$

1,453

 

 

$

171,199

 

 
Independent Bank - Colorado Branches  
Business Acquisition [Line Items]  
Summary of Fair Values of the Identifiable Assets Acquired and Liabilities Assumed

A summary of the estimated fair values of assets acquired, liabilities assumed, consideration transferred, and the resulting goodwill is as follows:

(Dollars in thousands)

 

 

 

 

Assets acquired:

 

 

 

 

Cash and cash equivalents

 

$

1,611

 

Loans

 

 

95,794

 

Premises and equipment

 

 

7,524

 

Intangible assets

 

 

3,255

 

Other assets

 

 

1,644

 

 

 

 

109,828

 

Liabilities assumed:

 

 

 

 

Deposits

 

 

160,702

 

Other liabilities

 

 

249

 

 

 

 

160,951

 

Fair value of net assets acquired

 

 

(51,123

)

Cash received from seller, net of $6,771 deposit premium

 

 

45,306

 

Goodwill

 

$

5,817

 

 
Summary of Acquired Loans

The following table presents details of the estimated fair value of  acquired loans at the acquisition date:

(Dollars in thousands)

 

 

 

 

Commercial real estate

 

$

13,382

 

Construction, land development, land

 

 

537

 

1-4 family residential properties

 

 

6,986

 

Farmland

 

 

31,490

 

Commercial

 

 

43,104

 

Factored receivables

 

 

—

 

Consumer

 

 

295

 

Mortgage warehouse

 

 

—

 

 

 

$

95,794