MERGERS AND ACQUISITIONS (Tables)

9 Months Ended

Sep. 30, 2017

Amounts Recorded on Consolidated Balance Sheets in Conjunction with Acquisition

The following table summarizes the amounts recorded on the consolidated balance sheets as of each of the acquisition dates in conjunction with the acquisitions discussed above:



(in thousands)	YDKN		Fifth Third Branches			METR
Fair value of consideration paid	$	1,784,783	$	—		$	404,242
Fair value of identifiable assets acquired:
Cash and cash equivalents	196,964		198,872			46,890
Securities	940,272		—			722,980
Loans	5,114,355		95,354			1,862,447
Core deposit and other intangible assets	69,555		4,129			24,163
Fixed and other assets	460,124		14,069			127,185
Total identifiable assets acquired	6,781,270		312,424			2,783,665
Fair value of liabilities assumed:
Deposits	5,176,915		302,529			2,328,238
Borrowings	969,385		—			227,539
Other liabilities	72,754		24,041			8,700
Total liabilities assumed	6,219,054		326,570			2,564,477
Fair value of net identifiable assets acquired	562,216		(14,146		)	219,188
Goodwill recognized ⁽¹⁾	$	1,222,567	$	14,146		$	185,054


(1)	All of the goodwill for these transactions has been recorded in the Community Banking Segment.

Yadkin Financial Corporation (YDKN) [Member]

Business Acquisition [Line Items]

Measurement Period Adjustments

The measurement period adjustments are reflected in the following table:



(in thousands)
Acquired Asset or Liability	Balance Sheet Line Item	Provisional Estimate		Revised Estimate		Increase (Decrease)
Loans and leases	Loans and leases, net	$	5,116,497	$	5,114,355	$	(2,142	)
Premises and equipment	Premises and equipment, net	95,208		70,370		(24,838		)
Deferred taxes	Other assets	94,307		115,017		20,710
Other liabilities	Other liabilities	70,761		69,863		(898		)

Business Acquisition Pro Forma Information

The following pro forma financial information for the periods presented reflects our estimated consolidated pro forma results of operations as if the YDKN acquisition occurred on January 1, 2016, unadjusted for potential cost savings and other business synergies we expect to receive as a result of the acquisition:



(dollars in thousands, except per share data)	FNB		YDKN		Pro Forma Adjustments			Pro Forma Combined
Nine Months Ended September 30, 2017
Revenue (net interest income and non-interest income)	$	782,844	$	74,574	$	519		$	857,937
Net income	203,352		22,435		(1,832		)	223,955
Net income available to common stockholders	197,322		22,435		(1,832		)	217,925
Earnings per common share – basic	0.79		1.06		—			0.74
Earnings per common share – diluted	0.79		1.06		—			0.73
Nine Months Ended September 30, 2016
Revenue (net interest income and non-interest income)	602,924		219,305		(3,968		)	818,261
Net income	119,600		41,490		(5,897		)	155,193
Net income available to common stockholders	113,570		41,490		(5,897		)	149,163
Earnings per common share – basic	0.55		0.88		—			0.48
Earnings per common share – diluted	0.55		0.88		—			0.48