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Business Combinations (Tables) | 9 Months Ended
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Sep. 30, 2015
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The table below summarizes the amounts recognized as of the Merger date for each major class of assets acquired and liabilities assumed, the estimated fair value adjustments and the amounts recorded in the Company’s financial statements at fair value at the Merger date (in thousands):
|  | Legacy ConnectOne carrying value |  |  | Fair value adjustments |  |  |  | As recorded at acquisition |
Cash and cash equivalents |  | $ | 70,318 |  |  | $ | — |  |  |  | $ | 70,318 |
Investment securities |  |  | 28,436 |  |  |  | 16 |  | (a) |  |  | 28,452 |
Restricted stock |  |  | 13,646 |  |  |  | — |  |  |  |  | 13,646 |
Loans held for sale |  |  | 190 |  |  |  | — |  |  |  |  | 190 |
Loans |  |  | 1,304,600 |  |  |  | (5,316 | ) | (b) |  |  | 1,299,284 |
Bank owned life insurance |  |  | 15,481 |  |  |  | — |  |  |  |  | 15,481 |
Premises and equipment |  |  | 7,380 |  |  |  | (905) |  | (c) |  |  | 6,475 |
Accrued interest receivable |  |  | 4,470 |  |  |  | — |  |  |  |  | 4,470 |
Core deposit and other intangibles |  |  | — |  |  |  | 5,308 |  | (d) |  |  | 5,308 |
Other real estate owned |  |  | 2,455 |  |  |  | — |  |  |  |  | 2,455 |
Other assets |  |  | 10,636 |  |  |  | 3,650 |  | (e) |  |  | 14,286 |
Deposits |  |  | (1,049,666 | ) |  |  | (1,676 | ) | (f) |  |  | (1,051,342 | )
FHLB borrowings |  |  | (262,046 | ) |  |  | (1,324 | ) | (g) |  |  | (263,370 | )
Other liabilities |  |  | (10,527 | ) |  |  | — |  |  |  |  | (10,527 | )
Total identifiable net assets |  | $ | 135,373 |  |  | $ | (247 | ) |  |  | $ | 135,126 |
Goodwill recorded in the Merger |  |  |  |  |  |  |  |  |  |  | $ | 129,105 |
The following provides an explanation of certain fair value adjustments presented in the above table:
| a) | Represents the fair value adjustment on investment securities held to maturity.
| b) | Represents the elimination of Legacy ConnectOne’s allowance for loan and lease losses, deferred fees, deferred costs and an adjustment of the amortized cost of loans to estimated fair value, which includes an interest rate mark and credit mark.
| c) | Represent an adjustment to reflect the fair value of above-market rent on leased premises. The above-market rent adjustment will be amortized on a straight-line basis over the remaining term of the respective leases.
| d) | Represents intangible assets recorded to reflect the fair value of core deposits. The core deposit asset was recorded as an identifiable intangible asset and will be amortized on an accelerated basis over the estimated average life of the deposit base.
| e) | Consist primarily of adjustments in net deferred tax assets resulting from the fair value adjustments related to acquired assets, liabilities assumed and identifiable intangibles recorded.
| f) | Represents fair value adjustment on time deposits as the weighted average interest rates of time deposits assumed exceeded the costs of similar funding available in the market at the time of the Merger, as well as the elimination of fees paid on brokered time deposits.
| g) | Represents the fair value adjustment on FHLB borrowings as the weighted average interest rate of FHLB borrowings assumed exceeded the cost of similar funding available in the market at the time of the Merger.
Schedule of Accountable Loans for Business Combinations in Accordance with FASB ASC 310-30 [Table Text Block] | The acquired loan portfolio subject to purchased credit impairment accounting guidance (ASC 310-30) as of July 1, 2014 was comprised of collateral dependent loans with deteriorated credit quality as follows (in thousands):
|  | ASC 310-30 Loans |
Contractual principal and accrued interest at acquisition |  | $ | 23,284 |
Principal not expected to be collected (non-accretable discount) |  |  | (6,942 | )
Expected cash flows at acquisition |  |  | 16,342 |
Interest component of expected cash flows (accretable discount) |  |  | (5,013 | )
Fair value of acquired loans |  | $ | 11,329 |

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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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