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MERGER (Tables) | 6 Months Ended
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Jun. 30, 2015
Merger |
Schedule of fair value of consideration transferred, based on market price of PMC Commercial shares on Acquisition Date |
|  | (in thousands, except per share data) |
PMC Commercial common stock outstanding |  |  | 2,119 |
Equity consideration price per share of common stock |  | $ | 21.05 |
​ | ​ | ​ | ​ | ​
Fair value of the equity consideration |  |  | 44,610 |
Payment in cash—special dividend |  |  | 58,279 |
​ | ​ | ​ | ​ | ​
Total purchase price |  | $ | 102,889 |
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
PMC Commercial |
Merger |
Schedule of allocation of purchase price |
|  | (in thousands) |
Assets |  |  |  |
Cash and cash equivalents |  | $ | 3,185 |
Loans receivable |  |  | 207,140 |
Accounts receivable and interest receivable |  |  | 755 |
Other assets |  |  | 5,396 |
Intangible assets |  |  | 2,957 |
​ | ​ | ​ | ​ | ​
Total assets acquired |  |  | 219,433 |
​ | ​ | ​ | ​ | ​
Liabilities |  |  |  |
Debt |  |  | 99,849 |
Accounts payable and accrued expenses |  |  | 7,396 |
Special dividend liability and dividend payable |  |  | 59,286 |
Other liabilities |  |  | 3,374 |
​ | ​ | ​ | ​ | ​
Total liabilities assumed |  |  | 169,905 |
​ | ​ | ​ | ​ | ​
Net identifiable assets acquired |  |  | 49,528 |
Bargain purchase gain |  |  | (4,918 | )
​ | ​ | ​ | ​ | ​
Net purchase price |  | $ | 44,610 |
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​

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- Definition Tabular disclosure of amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer. + References No definition available. + Details
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472 + Details
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