Acquisitions (Tables)

12 Months Ended

Dec. 31, 2017

The following table presents the assets acquired and liabilities assumed, net of the fair value adjustments, in the Standard and NI Bancshares transactions as of the acquisition date. 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)



	Standard		NI Bancshares
	January 6, 2017		March 8, 2016
Assets
Cash and due from banks and interest-bearing deposits in other banks	$	102,149	$	72,533
Securities available-for-sale	214,107		125,843
Securities held-to-maturity	—		1,864
FHLB and FRB stock	3,247		1,549
Loans	1,762,303		396,181
OREO	8,424		2,863
Investment in BOLI	55,629		8,384
Goodwill	345,334		22,174
Other intangible assets	31,072		10,408
Premises, furniture, and equipment	56,517		19,636
Accrued interest receivable and other assets	60,278		16,453
Total assets	$	2,639,060	$	677,888
Liabilities
Noninterest-bearing deposits	$	675,354	$	130,909
Interest-bearing deposits	1,348,520		464,012
Total deposits	2,023,874		594,921
Borrowed funds	—		2,416
Intangible liabilities	—		230
Accrued interest payable and other liabilities	34,471		10,239
Total liabilities	2,058,345		607,806
Consideration Paid
Common stock (2017 - 21,057,085 share issued at $25.34 per share, 2016 - 3,042,494 shares issued at $18.059 per share), net of issuance costs	533,590		54,896
Cash paid	47,125		15,186
Total consideration paid	580,715		70,082
	$	2,639,060	$	677,888

Unaudited Pro Forma Combined Results of Operations

(Dollar amounts in thousands)



	Years Ended
	December 31,
	2017		2016
Total revenues ⁽¹⁾	$	636,762	$	616,922
Net income	109,195		108,770


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

Summary of Standard Acquired Loans

The following table presents additional detail for loans acquired in the Standard transaction at the acquisition date.

Standard Acquired Loans

(Dollar amounts in thousands)



	January 6, 2017
	PCI Loans		Non-PCI Loans
Fair value	$	125,382	$	1,636,921
Contractually required principal and interest payments	218,680		1,930,311
Best estimate of contractual cash flows not expected to be collected ⁽¹⁾	65,610		100,469
Best estimate of contractual cash flows expected to be collected	153,070		1,829,842


⁽¹⁾	Includes interest payments not expected to be collected due to loan prepayments as well as principal and interest payments not expected to be collected due to customer default.