Acquisitions (Tables)

3 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Summary of Assets Acquired and Liabilities Assumed

The following table provides the purchase price calculation as of the date of the acquisition of Vantage, and the assets acquired and liabilities assumed at their estimated fair values.

(Dollars in thousands)	Fair Value
Total purchase price	$	82,893
Net assets at fair value
Assets
Cash and due from banks	$	1,444
Leases	155,726
Allowance for credit losses (on purchased credit deteriorated leases)	(801)
Net leases	154,925
Bank premises and equipment	116
Other intangible assets	13,207
Other assets	1,506
Total assets	$	171,198
Liabilities
Borrowings	$	106,919
Accrued expenses and other liabilities	8,550
Total liabilities	$	115,469
Net assets	$	55,729
Goodwill	$	27,164

Summary of Acquired Purchased Credit Deteriorated Loans

The following table details the fair value adjustment for acquired purchased credit deteriorated leases as of the acquisition date:

(Dollars in thousands)	Par Value		Allowance for Credit Losses		Non-Credit Premium		Fair Value
Purchased credit deteriorated leases
Leases	$	3,412	$	(801)	$	1,120	$	3,731
Fair value	$	3,412	$	(801)	$	1,120	$	3,731