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Merger (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Consideration Paid for AMRB

In addition, merger consideration included cash paid for outstanding stock options and cash paid in lieu of fractional shares, as summarized in the following table.

(in thousands)			Merger Consideration
Value of common stock consideration paid to shareholders (0.575 fixed exchange ratio, stock price $36.15)			$	124,401
Cash consideration for stock options			63
Cash paid in lieu of fractional shares			13
Total merger consideration			$	124,477

Schedule of Merger-Related One-Time and Conversion Costs

Merger-related one time and conversion costs are recognized as incurred and continue until all systems have been converted and operational functions are fully integrated. Bancorp's merger-related costs reflected in the consolidated statements of comprehensive income are summarized in the following table.

			Three months ended									Nine months ended
(in thousands, unaudited)			September 30, 2022			September 30, 2021						September 30, 2022			September 30, 2021
Personnel and severance			$	—		$	2,668					$	393		$	2,668
Professional services			—			1,778						67			1,979
Data processing			—			433						77			433
Other expense			—			263						321			279
Total merger-related one-time and conversion costs			$	—		$	5,142					$	858		$	5,359

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Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

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Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

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