Acquisition (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Preliminary Estimated Fair Value Amounts Assigned to Major Asset and Liability Categories at Acquisition Date

The following table presents the amounts recorded on the consolidated balance sheet on the acquisition date (dollars in thousands):

Fair value of consideration paid:
Common stock issued (6,275,574 shares)	$	220,273
Fair value of identifiable assets acquired:
Cash and cash equivalents		61,028
Securities available-for-sale		93,967
Loans		447,702
Identifiable intangible assets		4,798
Other assets		25,215
Total identifiable assets acquired		632,710
Fair value of liabilities assumed:
Deposits		548,383
Other liabilities		5,397
Total liabilities assumed		553,780
Fair value of net identifiable assets acquired		78,930
Goodwill resulting from acquisition	$	141,343