Subsequent Events (Tables)

12 Months Ended

Dec. 31, 2016

Subsequent Events [Abstract]

Acquisition activity

The following table presents the assets acquired and liabilities assumed, net of the fair value adjustments, in the NI Bancshares and Peoples transactions as of the acquisition date, including measurement period adjustments. The assets acquired and liabilities assumed, both intangible and tangible, were recorded at their estimated fair values as of the acquisition date and have been accounted for under the acquisition method of accounting.

Acquisition Activity

(Dollar amounts in thousands, except share and per share data)

	NI Bancshares		Peoples
	March 8, 2016		December 3, 2015
Assets
Cash and due from banks and interest-bearing deposits in other banks	$	72,533	$	781
Securities available-for-sale	125,843		41,492
Securities held-to-maturity	1,864		—
FHLB and FRB stock	1,549		558
Loans	396,886		53,766
OREO	2,863		515
Investment in BOLI	8,384		—
Goodwill	21,751		7,665
Other intangible assets	10,409		580
Premises, furniture, and equipment	19,636		2,215
Accrued interest receivable and other assets	16,558		2,941
Total assets	$	678,276	$	110,513
Liabilities
Noninterest-bearing deposits	$	130,909	$	15,869
Interest-bearing deposits	464,012		75,944
Total deposits	594,921		91,813
Borrowed funds	2,416		1,200
Intangible liabilities	230		—
Accrued interest payable and other liabilities	10,627		672
Total liabilities	608,194		93,685
Consideration Paid
Common stock (2016 - 3,042,494 shares issued at $18.059 per share), net of   $48,000 in issuance costs	54,896		—
Cash paid	15,186		16,828
Total consideration paid	70,082		16,828
	$	678,276	$	110,513

The following table presents the assets acquired and liabilities assumed, net of preliminary fair value adjustments, in the Standard transaction as of the acquisition date. The assets acquired and liabilities assumed, both tangible and intangible, are presented at their estimated fair values as of the acquisition date and have been accounted for under the acquisition method of accounting. These fair value adjustments, including goodwill, are preliminary based on estimates and are subject to change as more information becomes available and after final analyses of the fair values of both tangible and intangible assets acquired and liabilities assumed are completed. Goodwill recorded in the acquisition, which reflects the increased Company presence in southern metropolitan Chicago and northwest Indiana and related synergies expected from the combined operations, is not tax deductible.

Acquisition Activity

(Dollar amounts in thousands, except share and per share data)

	Standard
	January 6, 2017
Assets
Cash and due from banks and interest-bearing deposits in other banks	$	101,944
Securities available-for-sale	214,098
FHLB and FRB stock	3,247
Loans	1,795,562
OREO	9,223
Investment in BOLI	55,629
Goodwill	328,296
Other intangible assets	25,868
Premises, furniture, and equipment	56,253
Accrued interest receivable and other assets	48,707
Total assets	$	2,638,827
Liabilities
Noninterest-bearing deposits	$	676,295
Interest-bearing deposits	1,347,760
Total deposits	2,024,055
Accrued interest payable and other liabilities	34,289
Total liabilities	2,058,344
Consideration Paid
Common stock (21,057,085 shares issued at $25.34 per share), net of issuance costs	533,358
Cash paid	47,125
Total consideration paid	580,483
	$	2,638,827

Unaudited Pro Forma Combined Results of Operations

The unaudited pro forma combined results of operations for the for the year ended December 31, 2016 is presented as if the Standard acquisition had occurred on January 1, 2016, the first day of the Company's 2016 fiscal year. The unaudited pro forma combined results of operations is presented for illustrative purposes only and does not necessarily indicate the financial results of the combined companies had the companies actually been combined at the beginning of the period presented. Fair value adjustments included in the following table are preliminary and may be revised. The unaudited pro forma results of operations also does not consider any potential impacts of potential revenue enhancements, anticipated cost savings and expense efficiencies, or asset dispositions, among other factors. Acquisition and integration related expenses directly attributable to the Standard acquisition have been excluded from the following table and are estimated to total $27.0 million, of which $8.0 million was expensed during the year ended December 31, 2016.

Unaudited Pro Forma Combined Results of Operations

(Dollar amounts in thousands, except per share data)

	For the Year Ended
	December 31, 2016
Total revenues (1)	$	616,922
Net income	108,770

⁽¹⁾  Includes net interest income and total noninterest income.