Business Combinations (Tables)

3 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

Summary of Purchase Price Allocation and Consideration Paid

The following table provides the purchase price allocation and the consideration paid for State Bank’s net assets.

(In thousands, except shares and per share data)	As Recorded by Cadence
Assets
Cash and cash equivalents	$	414,342
Investment securities available-for-sale		667,865
Loans held for sale		148,469
Loans		3,317,897
Premises and equipment		65,646
Cash surrender value of life insurance		69,252
Intangible assets		117,038
Other assets		47,146
Total assets acquired	$	4,847,655
Liabilities
Deposits	$	4,096,665
Short term borrowings		23,899
Other liabilities		76,368
Total liabilities assumed		4,196,932
Net identifiable assets acquired over liabilities assumed		650,723
Goodwill		175,657
Net assets acquired over liabilities assumed	$	826,380
Consideration:
Cadence Bancorporation common shares issued		49,232,008
Fair value per share of the Company's common stock	$	16.78
Company common stock issued		826,113
Fair value of unexercised warrants		267
Fair value of total consideration transferred	$	826,380