Business Combinations (Tables)

12 Months Ended

Dec. 31, 2018

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 consideration		6,695
Total fair value of consideration transferred		291,132
Assets acquired:
Cash and cash equivalents		37,308
Securities available for sale		335,667
Restricted equity securities		7,723
Loans		834,683
Premises and equipment		30,522
Cash value of life insurance		16,817
Core deposit intangible		27,605
Other assets		16,214
Total assets acquired		1,306,539
Liabilities assumed:
Deposits		991,935
Other liabilities		15,133
Short-term borrowings—Federal Home Loan Bank		165,000
Total liabilities assumed		1,172,068
Total net assets acquired		134,471
Goodwill recognized	$	156,661

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 consideration		6,695
Less:
Cost basis net assets acquired		114,030
Fair value adjustments:
Investments		(1,081	)
Loans		(22,390	)
Premises and Equipment		21,590
Core deposit intangible		27,327
Deferred income taxes		(6,394	)
Other		1,389
Goodwill	$	156,661

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, 2018			December 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 income		51,152			53,881
Noninterest expense		(180,884	)		(181,833	)
Income before taxes		110,881			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