Acquisition (Tables) (Heartland Bancshares Inc [Member])

9 Months Ended

Sep. 30, 2013

Heartland Bancshares Inc [Member]

Schedule of Preliminary Purchase Price of Assets Acquired and Liabilities Assumed

the preliminary purchase price for the Heartland acquisition is allocated as follows (in thousands):


ASSETS
Cash and due from banks	$	33,531
Investment securities, available for sale		63,707

Commercial		70,343
Residential mortgage		20,838
Consumer		23,423

Total loans		114,604

Premises and equipment		2,647
FRB and FHLB stock		943
Goodwill		13,838
Core deposit intangible		2,332
Interest receivable		820
Cash value life insurance		4,012
Other assets		9,210

Total assets purchased	$	245,644


Common shares issued	$	19,668
Retirement of TARP preferred shares		7,248

Total estimated purchase price	$	26,916


LIABILITIES
Deposits
Non-interest bearing	$	59,350
NOW accounts		42,681
Savings and money market		61,465
Certificates of deposits		47,749

Total deposits		211,245

Borrowings		1,186
Subordinated debentures		1,537
Interest payable		90
Other liabilities		4,670

Total liabilities assumed	$	218,728

Schedule of Acquired Loans Accounted for in Accordance with ASC 310-30

The following table details the acquired loans that are accounted for in accordance with ASC 310-30 (formerly Statement of Position “SOP” 03-3) as of July 17, 2012.


Contractually required principal and interest at acquisition	$	35,574
Contractual cash flows not expected to be collected (nonaccretable differences)		5,264

Expected cash flows at acquisition		30,310
Interest component of expected cash flows (accretable discount)		7,494

Fair value of acquired loans accounted for under ASC 310-30	$	22,816

Accretable Yield or Income Expected to be Collected

Accretable yield, or income expected to be collected, is as follows:


Balance at December 31, 2012	$	6,111
Additions		—
Accretion		(1,016	)
Reclassification from nonaccreatable difference		—
Disposals		(1,629	)

Balance at September 30, 2013	$	3,466