XML 68 R53.htm IDEA: XBRL DOCUMENT v3.6.0.2
Acquisitions (Details) - USD ($)
12 Months Ended
Jun. 30, 2016
Sep. 01, 2015
Jul. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Business Acquisition [Line Items]          
Period for merger dates       1 year  
Decrease in deferred tax asset         $ 1,900,000
Allocation of total consideration paid [Abstract]          
Goodwill       $ 551,593,796 $ 432,232,255
CapitalMark Bank & Trust [Member]          
Business Acquisition [Line Items]          
Fractional shares of common stock (in shares)     0.50    
Stock consideration percentage     90.00%    
Cash consideration percentage     10.00%    
Average closing price for common stock (in dollars per share)     $ 26.78    
Valuation in shares (in shares)     3,300,000    
Valuation in dollars     $ 19,700,000    
Period for average closing price       10 days  
Equity consideration [Abstract]          
Total equity consideration, Amount     205,955,000    
Fair value of stock options assumed     30,430,000    
Non-equity consideration [Abstract]          
Cash     19,675,000    
Total consideration paid     225,630,000    
Allocation of total consideration paid [Abstract]          
Fair value of net assets assumed including estimated identifiable intangible assets     73,186,000    
Goodwill     152,444,000    
Assets [Abstract]          
Cash and cash equivalents     28,021,000    
Investment securities [1]     150,400,000    
Loans [2]     857,515,000    
Mortgage loans held for sale     1,791,000    
Other real estate owned     1,728,000    
Core deposit intangible [3]     6,193,000    
Other assets [4]     49,572,000    
Total Assets     1,095,220,000    
Liabilities [Abstract]          
Interest-bearing deposits [5]     759,383,000    
Non-interest bearing deposits     193,798,000    
Borrowings [6]     33,102,000    
Other liabilities     35,751,000    
Total Liabilities     1,022,034,000    
Fair value of net assets assumed including estimated identifiable intangible assets     73,186,000    
CapitalMark Bank & Trust [Member] | Historical Cost Basis [Member]          
Allocation of total consideration paid [Abstract]          
Fair value of net assets assumed including estimated identifiable intangible assets     85,065,000    
Assets [Abstract]          
Cash and cash equivalents     28,021,000    
Investment securities [1]     150,799,000    
Loans [2]     880,115,000    
Mortgage loans held for sale     1,791,000    
Other real estate owned     1,728,000    
Core deposit intangible [3]     0    
Other assets [4]     43,526,000    
Total Assets     1,105,980,000    
Liabilities [Abstract]          
Interest-bearing deposits [5]     758,492,000    
Non-interest bearing deposits     193,798,000    
Borrowings [6]     32,874,000    
Other liabilities     35,751,000    
Total Liabilities     1,020,915,000    
Fair value of net assets assumed including estimated identifiable intangible assets     85,065,000    
CapitalMark Bank & Trust [Member] | Fair Value Adjustments [Member]          
Allocation of total consideration paid [Abstract]          
Fair value of net assets assumed including estimated identifiable intangible assets     (11,879,000)    
Assets [Abstract]          
Cash and cash equivalents     0    
Investment securities [1]     (399,000)    
Loans [2]     (22,600,000)    
Mortgage loans held for sale     0    
Other real estate owned     0    
Core deposit intangible [3]     6,193,000    
Other assets [4]     6,046,000    
Total Assets     (10,760,000)    
Liabilities [Abstract]          
Interest-bearing deposits [5]     891,000    
Non-interest bearing deposits     0    
Borrowings [6]     228,000    
Other liabilities     0    
Total Liabilities     1,119,000    
Fair value of net assets assumed including estimated identifiable intangible assets     $ (11,879,000)    
CapitalMark Bank & Trust [Member] | Common Stock [Member]          
Equity consideration [Abstract]          
Total equity consideration, Number of Shares (in shares)     3,306,184    
Total equity consideration, Amount     $ 175,525,000    
Magna Bank [Member]          
Business Acquisition [Line Items]          
Fractional shares of common stock (in shares)   0.3369      
Stock consideration percentage   75.00%      
Cash consideration percentage   25.00%      
Business acquisition share price in cash (in dollars per share)   $ 14.32      
Unexercised stock options exchanged for cash (in shares)   139,417      
Unexercised stock options exchange price less than exercise price (in dollars per share)   $ 14.32      
Valuation in shares (in shares)   1,400,000      
Valuation in dollars   $ 19,500,000      
Equity consideration [Abstract]          
Total equity consideration, Amount   63,538,000      
Non-equity consideration [Abstract]          
Cash   19,453,000      
Cash paid to exchange outstanding stock options   847,000      
Total consideration paid   83,838,000      
Allocation of total consideration paid [Abstract]          
Fair value of net assets assumed including estimated identifiable intangible assets   49,050,000      
Goodwill   34,788,000      
Assets [Abstract]          
Cash and cash equivalents   17,832,000      
Investment securities [7]   59,738,000      
Loans [8]   440,679,000      
Mortgage loans held for sale   18,886,000      
Other real estate owned [9]   1,610,000      
Core deposit intangible [3]   3,170,000      
Other assets [10]   35,979,000      
Total Assets   577,894,000      
Liabilities [Abstract]          
Interest-bearing deposits [11]   403,803,000      
Non-interest bearing deposits   48,851,000      
Borrowings [12]   47,406,000      
Other liabilities [13]   28,784,000      
Total Liabilities   528,844,000      
Fair value of net assets assumed including estimated identifiable intangible assets   49,050,000      
Magna Bank [Member] | Historical Cost Basis [Member]          
Allocation of total consideration paid [Abstract]          
Fair value of net assets assumed including estimated identifiable intangible assets   56,043,000      
Assets [Abstract]          
Cash and cash equivalents   17,832,000      
Investment securities [7]   60,018,000      
Loans [8]   453,108,000      
Mortgage loans held for sale   18,886,000      
Other real estate owned [9]   1,471,000      
Core deposit intangible [3]   0      
Other assets [10]   31,057,000      
Total Assets   582,372,000      
Liabilities [Abstract]          
Interest-bearing deposits [11]   402,535,000      
Non-interest bearing deposits   48,851,000      
Borrowings [12]   46,900,000      
Other liabilities [13]   28,043,000      
Total Liabilities   526,329,000      
Fair value of net assets assumed including estimated identifiable intangible assets   56,043,000      
Magna Bank [Member] | Fair Value Adjustments [Member]          
Allocation of total consideration paid [Abstract]          
Fair value of net assets assumed including estimated identifiable intangible assets   (6,993,000)      
Assets [Abstract]          
Cash and cash equivalents   0      
Investment securities [7]   (280,000)      
Loans [8]   (12,429,000)      
Mortgage loans held for sale   0      
Other real estate owned [9]   139,000      
Core deposit intangible [3]   3,170,000      
Other assets [10]   4,922,000      
Total Assets   (4,478,000)      
Liabilities [Abstract]          
Interest-bearing deposits [11]   1,268,000      
Non-interest bearing deposits   0      
Borrowings [12]   506,000      
Other liabilities [13]   741,000      
Total Liabilities   2,515,000      
Fair value of net assets assumed including estimated identifiable intangible assets   $ (6,993,000)      
Magna Bank [Member] | Common Stock [Member]          
Equity consideration [Abstract]          
Total equity consideration, Number of Shares (in shares)   1,371,717      
Total equity consideration, Amount   $ 63,538,000      
Avenue Financial Holdings, Inc. (Avenue) [Member]          
Equity consideration [Abstract]          
Total equity consideration, Amount $ 182,469,000        
Non-equity consideration [Abstract]          
Cash 20,910,000        
Cash paid to exchange outstanding stock options 987,000        
Total consideration paid 204,366,000        
Allocation of total consideration paid [Abstract]          
Fair value of net assets assumed including estimated identifiable intangible assets 81,695,000        
Goodwill 122,671,000        
Assets [Abstract]          
Cash and cash equivalents 39,485,000        
Investment securities [14] 163,399,000        
Loans [15] 952,530,000        
Mortgage loans held for sale 3,310,000        
Core deposit intangible [3] 8,845,000        
Other assets [16] 56,503,000        
Total Assets 1,224,072,000        
Liabilities [Abstract]          
Interest-bearing deposits [17] 743,035,000        
Non-interest bearing deposits 223,685,000        
Borrowings [18] 145,879,000        
Other liabilities 29,778,000        
Total Liabilities 1,142,377,000        
Fair value of net assets assumed including estimated identifiable intangible assets 81,695,000        
Avenue Financial Holdings, Inc. (Avenue) [Member] | Historical Cost Basis [Member]          
Allocation of total consideration paid [Abstract]          
Fair value of net assets assumed including estimated identifiable intangible assets 97,027,000        
Assets [Abstract]          
Cash and cash equivalents 39,485,000        
Investment securities [14] 163,862,000        
Loans [15] 980,319,000        
Mortgage loans held for sale 3,310,000        
Core deposit intangible [3] 0        
Other assets [16] 47,729,000        
Total Assets 1,234,705,000        
Liabilities [Abstract]          
Interest-bearing deposits [17] 741,635,000        
Non-interest bearing deposits 223,685,000        
Borrowings [18] 142,639,000        
Other liabilities 29,719,000        
Total Liabilities 1,137,678,000        
Fair value of net assets assumed including estimated identifiable intangible assets 97,027,000        
Avenue Financial Holdings, Inc. (Avenue) [Member] | Fair Value Adjustments [Member]          
Allocation of total consideration paid [Abstract]          
Fair value of net assets assumed including estimated identifiable intangible assets (15,332,000)        
Assets [Abstract]          
Cash and cash equivalents 0        
Investment securities [14] (463,000)        
Loans [15] (27,789,000)        
Mortgage loans held for sale 0        
Core deposit intangible [3] 8,845,000        
Other assets [16] 8,774,000        
Total Assets (10,633,000)        
Liabilities [Abstract]          
Interest-bearing deposits [17] 1,400,000        
Non-interest bearing deposits 0        
Borrowings [18] 3,240,000        
Other liabilities 59,000        
Total Liabilities 4,699,000        
Fair value of net assets assumed including estimated identifiable intangible assets $ (15,332,000)        
Avenue Financial Holdings, Inc. (Avenue) [Member] | Common Stock [Member]          
Equity consideration [Abstract]          
Total equity consideration, Number of Shares (in shares) 3,760,326        
Total equity consideration, Amount $ 182,469,000        
[1] The amount represents the adjustment of the book value of CapitalMark's investment securities to their estimated fair value on the date of acquisition.
[2] The amount represents the adjustment of the net book value of CapitalMark's loans to their estimated fair value based on current interest rates and expected cash flows as of the date of acquisition, which includes estimates of expected credit losses inherent in the portfolio.
[3] The amount represents the fair value of the core deposit intangible asset representing the intangible value of the deposit base acquired.
[4] The amount represents the deferred tax asset recognized on the fair value adjustment of CapitalMark's acquired assets and assumed liabilities as well as the fair value adjustment on premises and equipment.
[5] The amount represents the adjustment is necessary because the weighted average interest rate of CapitalMark's deposits exceeded the cost of similar funding at the time of acquisition. The fair value adjustment will be amortized to reduce future interest expense over the life of the portfolio.
[6] The amount represents the adjustment necessary because the weighted average interest rate of CapitalMark's FHLB advances exceeded the cost of similar funding at the time of acquisition. The fair value adjustment will be amortized to reduce future interest expense over the life of the portfolio.
[7] The amount represents the adjustment of the book value of Magna's investment securities to their estimated fair value on the date of acquisition.
[8] The amount represents the adjustment of the net book value of Magna's loans to their estimated fair value based on interest rates and expected cash flows as of the date of acquisition, which includes estimates of expected credit losses inherent in the portfolio.
[9] The amount represents the adjustment to the book value of Magna's OREO to fair value on the date of acquisition.
[10] The amount represents the deferred tax asset recognized on the fair value adjustment of Magna's acquired assets and assumed liabilities as well as the fair value adjustment for the mortgage servicing right and property and equipment. The value of the deferred tax asset was decreased by $1.9 million as a result of the completion of the 2015 tax return.
[11] The amount represents the adjustment necessary because the weighted average interest rate of Magna's deposits exceeded the cost of similar funding at the time of acquisition. The fair value adjustment will be amortized to reduce future interest expense over the life of the portfolio.
[12] The amount represents the adjustment necessary because the weighted average interest rate of Magna's FHLB advances exceeded the cost of similar funding at the time of acquisition. The fair value adjustment will be amortized to reduce future interest expense over the life of the portfolio.
[13] The amount represents the adjustment to accrue two potential loss contingencies related to Magna's business operations that existed as of the date of acquisition.
[14] The amount represents the adjustment of the book value of Avenue's investment securities to their estimated fair value on the date of acquisition.
[15] The amount represents the adjustment of the net book value of Avenue's loans to their estimated fair value based on interest rates and expected cash flows as of the date of acquisition, which includes estimates of expected credit losses inherent in the portfolio.
[16] The amount represents the deferred tax asset recognized on the fair value adjustment of Avenue's acquired assets and assumed liabilities as well as the fair value adjustment for property and equipment.
[17] The amount represents the adjustment necessary because the weighted average interest rate of Avenue's deposits exceeded the cost of similar funding at the time of acquisition. The fair value adjustment will be amortized to reduce future interest expense over the life of the portfolio.
[18] The amount represents the adjustment necessary because the weighted average interest rate of Avenue's FHLB advances and subordinated debt issuance exceeded the cost of similar funding at the time of acquisition. The fair value adjustment will be amortized to reduce future interest expense over the life of the portfolio.