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Business Combinations (Tables)
 12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
Schedule of Fair Value of Consideration Transferred, Identifiable Net Assets Acquired and Resulting Goodwill
The following table summarizes the consideration paid for FNBB and the amounts of assets acquired and liabilities assumed that were recorded at the acquisition date (in thousands).
FNB Bancorp
July 6, 2018
Fair value of consideration transferred:
Fair value of shares issued$284,437  
Cash consideration6,695  
Total fair value of consideration transferred291,132  
Assets acquired:
Cash and cash equivalents37,308  
Securities available for sale335,667  
Restricted equity securities7,723  
Loans834,683  
Premises and equipment30,522  
Cash value of life insurance16,817  
Core deposit intangible27,605  
Other assets16,214  
Total assets acquired1,306,539  
Liabilities assumed:
Deposits991,935  
Other liabilities15,033  
Short-term borrowings—Federal Home Loan Bank165,000  
Total liabilities assumed1,171,968  
Total net assets acquired134,571  
Goodwill recognized$156,561  
Summary of Estimated Fair Value Adjustments Resulting in Goodwill
A summary of the estimated fair value adjustments resulting in the goodwill recorded in the FNB Bancorp acquisition are presented below (in thousands):
FNB Bancorp
July 6, 2018
Value of stock consideration paid to FNB Bancorp Shareholders$284,437  
Cash consideration6,695  
Less:
Cost basis net assets acquired114,030  
Fair value adjustments:
Investments(1,081) 
Loans(22,390) 
Premises and Equipment21,590  
Core deposit intangible27,327  
Deferred income taxes(6,394) 
Other1,489  
Goodwill$156,561  
Schedule of Business Acquisition Pro-forma financial Information The unaudited pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transaction been effected on the assumed date.
Year ended
December 31, 2018December 31, 2017
(in thousands, except per share data)
Summarized proforma income statement data:
Net interest income$242,793  $227,795  
(Provision for) benefit from loan losses(2,180) 271  
Noninterest income51,152  53,881  
Noninterest expense(180,884) (181,833) 
Income before taxes110,881  100,114  
Income taxes(30,337) (47,352) 
Net income$80,544  $52,762  
Basic earnings per share$2.65  $1.74  
Diluted earnings per share$2.63  $1.72