Acquisition Activities (Tables)

12 Months Ended

Dec. 31, 2023

Acquisition Activities

Summary of Preliminary Net Assets Acquired and Consideration Transferred

	Tucson		Colorado/New Mexico
		August 01, 2023	November 22, 2022
	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	28,366	$	191,916
Available-for-sale securities		38,084		41,103
Loans, net of unearned fees		105,668		388,531
Premises and equipment		1,335		2,270
Restricted equity securities		1,810		1,087
Interest receivable		695		2,514
Foreclosed assets held for sale		—		158
Core deposit intangible		4,459		16,465
Other		1,277		4,231
Total assets acquired		181,694		648,275
Liabilities:
Total deposits		165,399		570,275
Federal Home Loan Bank advances		—		10,559
Other borrowings		1,050		10,901
Interest payable and other liabilities		500		3,209
Total liabilities assumed		166,949		594,944
Identifiable net assets acquired	$	14,745	$	53,331
Consideration:
Cash		9,087		66,167
Stock		6,957		—
Total consideration		16,044		66,167
Goodwill	$	1,299	$	12,836

Summary Of PCD Loans Purchased

	Tucson		Colorado/New Mexico
		8/1/2023		11/22/2022
	(Dollars in thousands)
Unpaid principal balance	$	28,159	$	22,005
PCD allowance for credit loss at acquisition		(329)		(916)
(Discount) premium on acquired loans		(1,809)		(566)
Purchase price of PCD loans	$	26,021	$	20,523

Summary of Pro Forma Information

			Pro forma for Years Ended December 31,
	Actual from
	Acquisition Date
	through
	December 31, 2022		2022		2021
	(Dollars in thousands, except share and per share data)
Net interest income	$	1,906	$	209,957	$	186,824
Non-interest income		142		26,193		23,225
Net income		261		68,846		71,689
Pro-forma earnings per share:
Basic			$	1.39	$	1.40
Diluted				1.38		1.38
Weighted average shares outstanding:
Basic				49,489,860		51,291,428
Diluted				50,002,054		52,030,582