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Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2020
Business Combinations [Abstract] |
Schedule of Purchase Price of Assets Acquired and Liabilities Assumed |
Assets |  |  | Liabilities |
Cash and due from banks | $ | 152,745 |  |  | Deposits |
Investment securities, available for sale | 54,319 |  |  | Non-interest bearing | $ | 188,744 |
Loans |  |  | NOW accounts | 207,567 |
Commercial | 352,798 |  |  | Savings and money market | 274,504 |
Residential mortgage | 131,008 |  |  | Certificates of deposit | 70,529 |
Consumer | 85,112 |  |  | Total deposits | 741,344 |
Total loans | 568,918 |  |  | Borrowings | 70,495 |
Premises and equipment, net | 20,425 |  |  | Subordinated debentures | 18,376 |
FRB and FHLB stock | 3,571 |  |  | Interest payable | 826 |
Goodwill | 31,358 |  |  | Other liabilities | 8,759 |
Core deposit intangible | 19,818 |  |  | Total liabilities assumed | $ | 839,800 |
Interest receivable | 2,488 |  |  |  |
Other assets | 112,880 |  |  |  |
Total assets purchased | $ | 966,522 |  |  |  |
Common shares issued | $ | 102,722 |  |  |  |
Cash paid | 24,000 |  |  |  |
Total purchase price | $ | 126,722 |  |  |  |
Schedule of Acquired Loans Accounted for in Accordance with ASC 310-30 | The following table details an estimate of the acquired loans that are accounted for in accordance with ASC 310-30 as of March 26, 2019.
Contractually required principal and interest at acquisition | $ | 22,672 |
Contractual cash flows not expected to be collected (nonaccretable differences) | 6,694 |
Expected cash flows at acquisition | 15,978 |
Interest component of expected cash flows (accretable discount) | 735 |
Fair value of acquired loans accounted for under ASC310-30 | $ | 15,243 |
Pro Forma Result of Comparable Prior Reporting Period | The following schedule includes pro-forma results for the three months ended March 31, 2019 as if the Salin acquisition had occurred as of the beginning of the comparable prior reporting period.
|  |  | Three Months Ended |  |  |  |
|  |  | March 31 |  |  |  |
|  |  | 2019 |  |  |  |
Summary of Operations: |  |  |  |  |  |  |
Net Interest Income |  |  | $ | 42,182 |  |  |  |  |
Provision for Loan Losses |  |  | 664 |  |  |  |  |
Net Interest Income after Provision for Loan Losses |  |  | 41,518 |  |  |  |  |
Non-interest Income |  |  | 9,126 |  |  |  |  |
Non-interest Expense |  |  | 42,152 |  |  |  |  |
Income before Income Taxes |  |  | 8,492 |  |  |  |  |
Income Tax Expense |  |  | 2,017 |  |  |  |  |
Net Income |  |  | 6,475 |  |  |  |  |
Net Income Available to Common Shareholders |  |  | $ | 6,475 |  |  |  |  |
Basic Earnings per Share |  |  | $ | 0.17 |  |  |  |  |
Diluted Earnings per Share |  |  | $ | 0.17 |  |  |  |  |

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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 http://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 http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the reconciliation of contractual cash flows to the carrying amount relating to certain loans acquired in a transfer. + References No definition available. + 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 http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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