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Merger with Pioneer Bancshares, Inc. (Tables) | 12 Months Ended
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Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Estimated Fair Values of the Assets Acquired and Liabilities Assumed in this Transaction | Estimated fair values of the assets acquired and liabilities assumed in this transaction are as follows:
| April 1, 2022
Cash and cash equivalents | $ | 449,278 |
Investment securities | 157,859 |
Loans held-for-sale | 2,923 |
Loans | 811,300 |
Premises and equipment | 39,935 |
Bank-owned life insurance | 21,382 |
Restricted equity securities | 9,320 |
Core deposits and other intangible assets | 11,771 |
Accrued interest receivable | 3,947 |
Deferred tax assets | 19,752 |
Prepaid expenses and other assets | 7,317 |
Total assets acquired | 1,534,784 |
Deposits | 1,192,081 |
Federal Home Loan Bank advances | 159,924 |
Accrued interest payable | 407 |
Accrued expenses and other liabilities | 1,975 |
Total liabilities assumed | 1,354,387 |
Fair value of net assets acquired | 180,397 |
Purchase price | 240,830 |
Goodwill | $ | 60,433 |
The following table discloses the fair value and contractual value of loans acquired from Pioneer on April 1, 2022.
| Acquired Loans |  | Contractual Principal Balance
Commercial | $ | 98,351 |  |  | $ | 98,752 |
Commercial real estate | 509,173 |  |  | 516,341 |
Residential real estate | 173,094 |  |  | 174,763 |
Consumer | 30,682 |  |  | 31,982 |
Total fair value | $ | 811,300 |  |  | $ | 821,838 |
Schedule of business acquisition, pro forma information | The following unaudited pro forma summary presents consolidated information of FirstSun as if the business combination had occurred on January 1, 2021.
| (Unaudited) Pro forma for the years ended December 31,
| 2022 |  | 2021
Net interest income | $ | 251,783 |  |  | $ | 201,501 |
Provision for loan losses | 17,200 |  |  | 350 |
Net interest income after provision for loan losses | 234,583 |  |  | 201,151 |
Noninterest income | 90,993 |  |  | 129,373 |
Noninterest expenses | 229,307 |  |  | 258,544 |
Income before income taxes | 96,269 |  |  | 71,980 |
Provision for income taxes | 19,508 |  |  | 13,413 |
Net income | $ | 76,761 |  |  | $ | 58,567 |
Earnings per share: |  |  |
Net income available to common stockholders | $ | 76,761 |  |  | $ | 58,567 |
Basic | $ | 3.09 |  |  | $ | 2.36 |
Diluted | $ | 3.01 |  |  | $ | 2.30 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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