Acquisitions (Tables)

12 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

Schedule of assets acquired and liabilities assumed and the provisional fair value adjustments and amounts recorded

The following table represents the assets acquired and liabilities assumed of IDPK as of January 26, 2015 and the provisional fair value adjustments and amounts recorded by the Company in 2015 under the acquisition method of accounting:

	IDPK Book Value			Fair Value Adjustments			Fair Value
	(dollars in thousands)
ASSETS ACQUIRED
Cash and cash equivalents	$	10,486		$	—		$	10,486
Investment securities	56,503			(382		)	56,121
Loans, gross	339,502			(6,609		)	332,893
Allowance for loan losses	(3,301		)	3,301			—
Deferred income taxes	5,266			(472		)	4,794
Bank owned life insurance	11,276			—			11,276
Core deposit intangible	904			1,999			2,903
Other assets	3,756			780			4,536
Total assets acquired	$	424,392		$	(1,383	)	$	423,009
LIABILITIES ASSUMED
Deposits	335,685			333			336,018
FHLB advances	33,300			—			33,300
Other liabilities	1,916			(120		)	1,796
Total liabilities assumed	370,901			213			371,114
Excess of assets acquired over liabilities assumed	$	53,491		$	(1,596	)	51,895
Consideration paid							79,777
Goodwill recognized							$	27,882

The following table represents the assets acquired and liabilities assumed of IFC as of January 30, 2014 and the provisional fair value adjustments and amounts recorded by the Company in 2014 under the acquisition method of accounting:

	IFC Book Value			Fair Value Adjustments			Fair Value
	(dollars in thousands)
ASSETS ACQUIRED
Cash and cash equivalents	$	555		$	—		$	555
Loans	78,833			—			78,833
Deferred loan costs	1,082			(1,082		)	—
Allowance for loan losses	(268		)	268			—
Other assets	776			—			776
Total assets acquired	$	80,978		$	(814	)	$	80,164
LIABILITIES ASSUMED
Bank loan	$	67,617		$	—		$	67,617
Accrued compensation	495			—			495
Other liabilities	214			—			214
Total liabilities assumed	68,326			—			68,326
Excess of assets acquired over liabilities assumed	$	12,652		$	(814	)	11,838
Consideration paid							17,360
Goodwill recognized							$	5,522

The following table represents the assets acquired and liabilities assumed of SDTB as of June 25, 2013 and the provisional fair value adjustments and amounts recorded by the Company in 2013 under the acquisition method of accounting: 

	SDTB Book Value			Fair Value Adjustments			Fair Value
	(dollars in thousands)
ASSETS ACQUIRED
Cash and cash equivalents	$	30,252		$	—		$	30,252
Investment securities	124,960			(155		)	124,805
Loans, gross	42,945			(223		)	42,722
Allowance for loan losses	(1,013		)	1,013			—
Other real estate owned	752			—			752
Core deposit intangible	—			2,836			2,836
Other assets	9,856			—			9,856
Total assets acquired	$	207,752		$	3,471		$	211,223
LIABILITIES ASSUMED
Deposits	$	183,901		$	6		$	183,907
Deferred tax liability (asset)	(333		)	1,507			1,174
Other liabilities	1,823			(729		)	1,094
Total liabilities assumed	185,391			784			186,175
Excess of assets acquired over liabilities assumed	$	22,361		$	2,687		25,048
Consideration paid							30,622
Goodwill recognized							$	5,574

The following table represents the assets acquired and liabilities assumed of FAB as of March 15, 2013, the provisional fair value adjustments and amounts recorded by the Company in 2013 under the acquisition method of accounting:

	FAB Book Value			Fair Value Adjustments		Fair Value
ASSETS ACQUIRED	(dollars in thousands)
Cash and cash equivalents	$	167,663		$	—	$	167,663
Investment securities	219,913			2,478		222,391
Loans, gross	26,264			158		26,422
Allowance for loan losses	(224		)	224		—
Core deposit intangible	—			1,930		1,930
Other assets	5,823			—		5,823
Total assets acquired	$	419,439		$	4,790	$	424,229
LIABILITIES ASSUMED
Deposits	$	356,737		$	81	$	356,818
Borrowings	16,905			—		16,905
Deferred tax liability	—			3,918		3,918
Other Liabilities	536			—		536
Total liabilities assumed	374,178			3,999		378,177
Excess of assets acquired over liabilities assumed	$	45,261		$	791	46,052
Consideration paid						57,906
Goodwill recognized						$	11,854

Schedule of contractual amounts due, expected cash flows to be collected, interest component and fair value as of the respective acquisition dates

For loans acquired from FAB, SDTB, IFC and IDPK, the contractual amounts due, expected cash flows to be collected, interest component and fair value as of the respective acquisition dates were as follows:

	Acquired Loans
	FAB		SDTB		IFC		IDPK
	(dollars in thousands)
Contractual amounts due	$	32,107	$	47,251	$	98,320	$	453,987
Cash flows not expected to be collected	—		—		—		3,795
Expected cash flows	32,107		47,251		98,320		450,192
Interest component of expected cash flows	5,685		4,529		19,487		117,299
Fair value of acquired loans	$	26,422	$	42,722	$	78,833	$	332,893

Summary of pro forma net interest and other income, net income and earnings per share

Unaudited pro forma net interest and other income, net income and earnings per share presented below:

	Twelve months Ended December 31,
	2015		2014		2013
Net interest and other income	$	122,426	$	110,727	$	84,988
Net income	25,862		20,428		11,123
Basic earnings per share	$	1.22	$	0.95	$	0.54
Diluted earnings per share	$	1.20	$	0.94	$	0.52