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Merger (Tables) | 9 Months Ended
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Sep. 30, 2018
Schedule of Estimated Amortization Expense | Estimated amortization expense for each of the next five years and thereafter is as follows:
|  | MSRs |  |  | Core deposit intangibles |  |  | Total |
2018 |  | $ | 22 |  |  | $ | 281 |  |  | $ | 303 |
2019 |  |  | 88 |  |  |  | 945 |  |  |  | 1,033 |
2020 |  |  | 88 |  |  |  | 914 |  |  |  | 1,002 |
2021 |  |  | 87 |  |  |  | 891 |  |  |  | 978 |
2022 |  |  | 87 |  |  |  | 868 |  |  |  | 955 |
Thereafter |  |  | 1,307 |  |  |  | 4,070 |  |  |  | 5,377 |
|  | $ | 1,679 |  |  | $ | 7,969 |  |  | $ | 9,648 |
Schedule of Financial Information for Former UCB Included in Consolidated Statements of Income | The following table presents financial information for the former UCB included in the Consolidated Statements of Income from the date of acquisition through September 30, 2018.
|  | Actual From Acquisition Date Through September 30, 2018 |
|  | (in thousands) |
Net interest income after provision for loan losses |  | $ | 432 |
Noninterest income |  |  | 7 |
Net income |  |  | 298 |
Business Acquisition, Pro Forma Information | The following table presents pro forma information for the nine- and three-month periods ended September 30, 2018 and 2017 as if the acquisition of UCB had occurred on January 1, 2017. This table has been prepared for comparative purposes only and is not indicative of the actual results that would have been attained had the acquisition occurred as of the beginning of the periods presented, nor is it indicative of future results.
|  | Pro Formas |  | Pro Formas |
|  | Nine months ended September 30, |  | Three months ended September 30, |
|  | 2018 |  |  | 2017 |  | 2018 |  |  | 2017 |
Net interest income after provision for loan losses |  | $ | 54,340 |  |  | $ | 50,809 |  | $ | 17,236 |  |  | $ | 17,378 |
Noninterest income |  |  | 13,493 |  |  |  | 16,015 |  |  | 1,158 |  |  |  | 4,565 |
Net income |  |  | 5,895 |  |  |  | 14,679 |  |  | (5,708 | ) |  |  | 4,522 |
Pro forma earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.47 |  |  | $ | 1.40 |  | $ | (0.51 | ) |  | $ | 0.41 |
Diluted |  | $ | 0.46 |  |  | $ | 1.20 |  | $ | (0.51 | ) |  | $ | 0.36 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for UCB. Core deposit intangibles will be amortized over periods of between ten years using an accelerated method. Goodwill will not be amortized, but instead will be evaluated for impairment. Furthermore, the unaudited pro forma information does not reflect management’s estimate of any revenue-enhancing opportunities nor anticipated cost savings as a result of the integration and consolidation of the acquisition. Merger and acquisition integration costs and amortization of fair value adjustments net of the related income tax effects are included in the amounts below.
Consideration paid |  |  |  |  |  | $ | 117,344 |
Net assets acquired: |  |  |  |  |  |  |  |
Cash and due from financial institutions |  | $ | 156,472 |  |  |  |  |
Securities available for sale |  |  | 43,214 |  |  |  |  |
Equity securities |  |  | 212 |  |  |  |  |
Loans held for sale |  |  | 492 |  |  |  |  |
Loans, net |  |  | 298,319 |  |  |  |  |
Other securities |  |  | 3,527 |  |  |  |  |
Premises and equipment |  |  | 5,291 |  |  |  |  |
Accrued interest receivable |  |  | 950 |  |  |  |  |
Core deposit intangible |  |  | 7,518 |  |  |  |  |
Bank owned life insurance |  |  | 17,193 |  |  |  |  |
Other assets |  |  | 10,896 |  |  |  |  |
Noninterest-bearing deposits |  |  | (226,795 | ) |  |  |  |
Interest-bearing deposits |  |  | (249,149 | ) |  |  |  |
Other liabilities |  |  | (17 | ) |  |  |  |
|  |  |  |  |  |  | 68,123 |
Goodwill resulting from UCB merger |  |  |  |  |  | $ | 49,221 |
UCB [Member] |
Schedule of Estimated Amortization Expense | As of September 30, 2018, the current year and estimated future amortization expense for the core deposit intangible is as follows:
|  | Core deposit intangibles |
2018 |  | $ | 255 |
2019 |  |  | 857 |
2020 |  |  | 842 |
2021 |  |  | 823 |
2022 |  |  | 800 |
Thereafter |  |  | 3,941 |
|  | $ | 7,518 |

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