Acquisitions (Tables)

3 Months Ended

Mar. 31, 2019

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 Grandpoint as of July 1, 2018 and the fair value adjustments and amounts recorded by the Company in 2018 under the acquisition method of accounting:



	Grandpoint Book Value			Fair Value Adjustments			Fair Value
ASSETS ACQUIRED	(dollars in thousands)
Cash and cash equivalents	$	147,551		$	—		$	147,551
Investment securities	395,905			(3,047		)	392,858
Loans, gross	2,404,042			(51,325		)	2,352,717
Allowance for loan losses	(18,665		)	18,665			—
Fixed assets	6,015			3,107			9,122
Core deposit intangible	5,093			66,850			71,943
Deferred tax assets	14,185			(9,802		)	4,383
Other assets	97,441			(195		)	97,246
Total assets acquired	$	3,051,567		$	24,253		$	3,075,820
LIABILITIES ASSUMED
Deposits	$	2,506,663		$	266		$	2,506,929
Borrowings	255,155			(232		)	254,923
Other liabilities	23,687			1,172			24,859
Total liabilities assumed	2,785,505			1,206			2,786,711
Excess of assets acquired over liabilities assumed	$	266,062		$	23,047		289,109
Consideration paid							602,152
Goodwill recognized							$	313,043

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 Grandpoint, the contractual amounts due, expected cash flows to be collected, interest component and fair value as of acquisition date was as follows:



	Grandpoint Acquired Loans
	(dollars in thousands)
Contractual amounts due	$	3,496,905
Cash flows not expected to be collected	39,071
Expected cash flows	3,457,834
Interest component of expected cash flows	1,105,117
Fair value of acquired loans	$	2,352,717

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

There were no material, nonrecurring adjustments to the pro forma net interest and other income, net income and earnings per share presented below:



	Three Months Ended
	March 31,		December 31,		March 31,
	2019		2018		2018
	(dollars in thousands)
Net interest and other income	$	117,561	$	122,258	$	116,618
Net income	38,718		39,643		36,695
Basic earnings per share	0.62		0.64		0.60
Diluted earnings per share	0.62		0.63		0.59