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ACQUISITION (Tables)
12 Months Ended
Dec. 31, 2014
Business Combinations [Abstract]  
Schedule of Consideration Paid
The components of the consideration paid are shown in the following table (in thousands).
Fair value of consideration transferred:
 
 
 
Common stock issued
 
$
151,891

 
Cash
 
157,408

 
Less: Post-combination share-based compensation expense (1)
 
8,874

 
          Reimbursement of contract cancellation fees
 
1,815

 
          Non-compete agreements
 
300

Total consideration transferred
 
$
298,310

(1) In connection with the merger, we recorded the unvested stock options and the non-vested restricted stock awards as a post-combination expense.
Schedule of Assets Acquired and Liabilities Assumed
Estimated fair values of the assets acquired and liabilities assumed in the transaction as of the closing date of the transaction are shown in the following table (in thousands).
Cash, cash equivalents, and amounts due from banks
$
21,214

Other investments
15,698

Securities available for sale
428,447

Loans held for sale
748

Loans
763,327

Property and equipment
58,928

Bank owned life insurance
44,964

Other assets
13,409

Core deposit intangible
8,570

Goodwill
69,338

Deposits
(801,327
)
Short-term borrowings
(7,000
)
Federal Home Loan Bank advances
(308,516
)
Deferred tax liability, net
(3,244
)
Other liabilities
(6,246
)
 
$
298,310

Schedule of Acquired PCI Loans
The table below details the PCI loan portfolio at acquisition date (in thousands):
 
Purchased Credit Impaired Loans at Acquisition Date
Contractually required principal and interest payments
$
46,647

Nonaccretable difference
23,262

Cash flows expected to be collected
23,385

Accretable difference
1,898

Fair value of loans acquired with a deterioration of credit quality
$
21,487

The following table presents the outstanding principal balance and carrying value for PCI loans for the periods presented (in thousands):

 
December 31, 2014
Outstanding principal balance
$
32,572

Carrying amount
$
21,346

Schedule of Acquired Loans that were Considered Performing
Acquired loans that were considered performing at acquisition date and therefore not subject to ASC 310-30 are shown below (in thousands):
 
Fair Value at Acquisition Date
 
Contractual Amounts Receivable
 
Cash Flows Not Expected to be Collected at Acquisition Date (1)
Real Estate Loans:
 
 
 
 
 
Construction
$
49,625

 
$
56,877

 
$
3,947

1-4 Family Residential
282,577

 
608,986

 
248,669

Other
152,087

 
190,920

 
15,692

Commercial Loans
59,007

 
72,583

 
8,602

Loans to Individuals
199,292

 
261,280

 
34,689

Total Loans
$
742,588

 
$
1,190,646

 
$
311,599


(1) Cash flows not expected to be collected relate to estimated credit losses and expected prepayments.