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Acquisitions (Tables)
6 Months Ended
Jun. 30, 2019
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 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

 
(9,157
)
 
5,028

Other assets
97,441

 
(436
)
 
97,005

Total assets acquired
$
3,051,567

 
$
24,657

 
$
3,076,224

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

 
$
23,451

 
289,513

Consideration paid
 
 
 

 
602,152

Goodwill recognized
 

 
 

 
$
312,639


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 The following table presents the unaudited pro forma information for the net interest and other income, net income and earnings per share as if the acquisition was effective as of January 1, 2018 for the periods indicated and includes certain nonrecurring adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods.

 
June 30, 2018
 
Three Months Ended
 
Six Months Ended
 
(dollars in thousands, except share data)
Net interest and other income
$
122,800

 
$
244,565

Net income
54,031

 
92,007

Basic earnings per share
0.87

 
1.49

Diluted earnings per share
0.87

 
1.47