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Business Combinations (Tables) | 6 Months Ended
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Jun. 30, 2022
Sevier County Bancshares Inc [Member] |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions | The purchased assets and assumed liabilities were recorded at their acquisition date fair values (1) and are summarized in the table below (in thousands). ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Initial | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As recorded |  | Fair value | ​ | Subsequent |  | As recorded
​ | ​ | by SCB | ​ | adjustments | ​ | Adjustments | ​ | by the Company
Assets: |  | ​ |  |  | ​ |  | ​ | ​ | ​ |  | ​ |
Cash & cash equivalents | ​ | $ | 84,313 | ​ | $ | — | ​ | $ | — | ​ | $ | 84,313
Investment securities available-for-sale | ​ |  | 64,219 | ​ |  | (614) | ​ | ​ | — | ​ |  | 63,605
Restricted investments | ​ |  | 533 | ​ |  | — | ​ | ​ | — | ​ |  | 533
Loans | ​ |  | 304,620 | ​ |  | (4,551) | ​ | ​ | (3,049) | ​ |  | 297,020
Allowance for loan losses | ​ |  | (3,644) | ​ |  | 3,644 | ​ | ​ | — | ​ |  | —
Premises and equipment, net | ​ |  | 15,579 | ​ |  | (295) | ​ | ​ | (22) | ​ |  | 15,262
Bank owned life insurance | ​ |  | 7,116 | ​ |  | — | ​ | ​ | — | ​ |  | 7,116
Deferred tax asset, net | ​ |  | 10,340 | ​ |  | (4,007) | ​ | ​ | 769 | ​ |  | 7,102
Core deposit intangible | ​ |  | — | ​ |  | 1,550 | ​ | ​ | — | ​ |  | 1,550
Interest Receivable | ​ |  | 884 | ​ |  | — | ​ | ​ | — | ​ |  | 884
Other assets | ​ |  | 920 | ​ |  | (272) | ​ | ​ | (533) | ​ |  | 115
Total assets acquired | ​ | $ | 484,880 | ​ | $ | (4,545) | ​ | $ | (2,835) | ​ | $ | 477,500
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ |  |
Deposits | ​ | $ | 435,036 | ​ | $ | — | ​ | $ | — | ​ | $ | 435,036
Time deposit premium | ​ |  | — | ​ |  | 888 | ​ | ​ | — | ​ |  | 888
Subordinated debt | ​ | ​ | 2,500 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,500
Payables and other liabilities | ​ |  | 5,563 | ​ |  | 115 | ​ | ​ | (1,254) | ​ |  | 4,424
Total liabilities assumed | ​ |  | 443,099 | ​ |  | 1,003 | ​ |  | (1,254) | ​ |  | 442,848
Excess of assets acquired over liabilities assumed | ​ | $ | 41,781 | ​ |  |  | ​ | ​ | ​ | ​ |  |
Aggregate fair value adjustments | ​ |  |  | ​ | $ | (5,548) | ​ | $ | (1,581) | ​ |  |
Total identifiable net assets | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ |  | 34,652
Consideration transferred: | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ |  |
Cash | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ |  | 9,568
Common stock issued (1,692,168 shares) | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ |  | 42,255
Total fair value of consideration transferred | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ |  | 51,823
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Goodwill | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ | $ | 17,171
(1) Fair values are preliminary and are subject to refinement for a period of one year after the closing date of an acquisition as information relative to the closing date fair value becomes available.
Loans Acquired in Acquisition | The following table presents additional information related to the purchased credit impaired loans (ASC 310-30) of the acquired loan portfolio at the acquisition date (in thousands):
​ | ​ | ​ | ​
​ |  | September 1, 2021
Accounted for pursuant to ASC 310-30: |  | ​ |
Contractually required principal and interest | ​ | $ | 30,293
Non-accretable differences | ​ |  | 7,609
Cash flows expected to be collected | ​ |  | 22,684
Accretable yield | ​ |  | 3,552
Fair value | ​ | $ | 19,132
Fountain [Member] |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions | The purchased assets and assumed liabilities were recorded at their acquisition date fair values (1) and are summarized in the table below (in thousands).
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As recorded |  | Fair value | ​ | Subsequent |  | As recorded
​ | ​ | by Fountain | ​ | adjustments | ​ | Adjustments | ​ | by the Company
Assets: |  | ​ |  |  | ​ |  | ​ | ​ | ​ |  | ​ |
Cash & cash equivalents | ​ | $ | 413 | ​ | $ | — | ​ | $ | — | ​ | $ | 413
Leases | ​ |  | 54,945 | ​ |  | (720) | ​ | ​ | — | ​ |  | 54,225
Allowance for lease losses | ​ |  | (1,796) | ​ |  | 1,796 | ​ | ​ | — | ​ |  | —
Customer list intangible | ​ |  | — | ​ |  | 2,658 | ​ | ​ | — | ​ |  | 2,658
Other repossessed assets | ​ |  | 319 | ​ |  | — | ​ | ​ | — | ​ |  | 319
Other assets | ​ |  | 233 | ​ |  | — | ​ | ​ | — | ​ |  | 233
Total assets acquired | ​ | $ | 54,114 | ​ | $ | 3,734 | ​ | $ | — | ​ | $ | 57,848
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ |  |
Payables and other liabilities | ​ | $ | 683 | ​ | $ | (229) | ​ | $ | — | ​ | $ | 454
Total liabilities assumed | ​ |  | 683 | ​ |  | (229) | ​ |  | — | ​ |  | 454
Excess of assets acquired over liabilities assumed | ​ | $ | 53,431 | ​ |  |  | ​ | ​ | ​ | ​ |  |
Aggregate fair value adjustments | ​ |  |  | ​ | $ | 3,963 | ​ | $ | — | ​ |  |
Total identifiable net assets | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ |  | 57,394
Consideration transferred: | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ |  |
Cash | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ |  | 59,794
Total fair value of consideration transferred | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ |  | 59,794
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Goodwill | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ | $ | 2,400
(1) Fair values are preliminary and are subject to refinement for a period of one year after the closing date of an acquisition as information relative to the closing date fair value becomes available. ​
Loans Acquired in Acquisition | The following table presents additional information related to the purchased credit impaired financing leases (ASC 310-30) of the acquired lease portfolio at the acquisition date (in thousands):
​ | ​ | ​ | ​
​ |  | May 3, 2021
Accounted for pursuant to ASC 310-30: |  | ​ |
Contractually required principal and interest | ​ | $ | 6,018
Non-accretable differences | ​ |  | 447
Cash flows expected to be collected | ​ |  | 5,571
Accretable yield | ​ |  | 649
Fair value | ​ | $ | 4,922

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