XML 44 R31.htm IDEA: XBRL DOCUMENT v3.10.0.1
ACQUISITION (Tables)
12 Months Ended
Dec. 31, 2018
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
 
$
200,364

 
Cash
 
23,941

Total consideration transferred
 
$
224,305

Schedule of Goodwill
The following table reflects the changes in the carrying amount of our goodwill for the year ended December 31, 2018 (in thousands):
 
 
Goodwill
Balance as of December 31, 2017
 
$
201,246

Less: measurement period adjustments
 
(130
)
Balance as of December 31, 2018
 
$
201,116

Schedule of assets acquired and liabilities assumed
The estimated fair values of the assets acquired and liabilities assumed as of the closing date of the transaction adjusted for the subsequent measurement period adjustments are shown in the following table (in thousands):
 
As Originally Reported (1)
 
Measurement Period Adjustments
 
Adjusted Balances
Cash, cash equivalents and amounts due from banks
$
115,598

 
$

 
$
115,598

Other investments
610

 

 
610

Securities available for sale
234,447

 

 
234,447

Loans
621,318

 

 
621,318

Property and equipment
26,256

 

 
26,256

Other assets
7,052

 

 
7,052

Core deposit intangible
14,700

 

 
14,700

Trust relationship intangible
5,400

 

 
5,400

Goodwill
109,726

 
(130
)
 
109,596

Deposits
(899,307
)
 

 
(899,307
)
Deferred tax liability, net
(7,802
)
 
84

 
(7,718
)
Other liabilities
(3,693
)
 
46

 
(3,647
)
 
$
224,305

 
$

 
$
224,305



(1)  
The estimated fair value as of the acquisition date, November 30, 2017, as previously reported in our Form 10-K for the year ended December 31, 2017.
Schedule of acquired PCI loans
The table below details the PCI loan portfolio at the Diboll acquisition date (in thousands):
 
Purchased Credit Impaired Loans at Acquisition Date
Contractually required principal and interest payments
$
59,286

Nonaccretable difference
4,560

Cash flows expected to be collected
54,726

Accretable difference
15,389

Fair value of loans acquired with a deterioration of credit quality
$
39,337

The following table presents the outstanding principal balance and carrying value for PCI loans for the periods presented (in thousands):
 
December 31, 2018
 
December 31, 2017
Outstanding principal balance (1)
$
51,388

 
$
52,426

Carrying amount (1)
$
46,402

 
$
45,233

(1) At December 31, 2018, PCI totals include approximately $14.0 million in new funds to a borrower that has since been upgraded to a Pass credit.
Schedule of acquired loans that were considered performing
Acquired loans that were considered performing at the Diboll 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
$
40,122

 
$
56,905

 
$
330

1-4 Family Residential
82,654

 
130,167

 
26,894

Commercial
319,623

 
484,529

 
97,431

Commercial Loans
82,083

 
87,688

 
1,226

Municipal Loans
7,848

 
9,998

 
28

Loans to Individuals
49,651

 
54,687

 
1,490

Total Loans
$
581,981

 
$
823,974

 
$
127,399



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