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 |
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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 |
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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 |
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