Acquisitions (Tables)

9 Months Ended

Sep. 30, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Purchase Price of Assets Acquired and Liabilities Assumed

Under the acquisition method of accounting, the total purchase price is allocated to net tangible and intangible assets based on their current estimated fair values on the date of the acquisition. Based on preliminary valuations of the fair value of tangible and intangible assets acquired and liabilities assumed, which are based on estimates and assumptions that are subject to change, the preliminary purchase price for the TCF branches is detailed in the following table. Final estimates of fair value on the date of acquisition have not been received yet. Prior to the end of the one year measurement period for finalizing the purchase price allocation, if information becomes available which would indicate adjustments are required to the purchase price allocation, such adjustments will be included in the purchase price allocation prospectively. If any adjustments are made to the preliminary assumptions (provisional amounts), disclosures will be made in the notes to the financial statements of the amounts recorded in the current period earnings by line item that have been recorded in previous reporting periods if the adjustments to the provisional amounts had been recognized as of the acquisition date.


Assets			Liabilities
Cash and due from banks	$	4,012	Deposits
Loans			Non-interest bearing	$	181,403
Commercial	99,893		NOW accounts	303,050
Residential mortgage	54,218		Savings and money market	262,488
Consumer	52,224		Certificates of deposit	99,468
Total loans	206,335		Total deposits	846,409
Premises and equipment, net	6,901		Interest payable	16
Goodwill	11,550		Other liabilities	2,206
Core deposit intangible	887
Interest receivable	519
Other assets	260
Total assets purchased	$	230,204	Total liabilities assumed	$	848,631

Net cash received	$	(618,167)