Acquisition and Divestiture Activity (Tables)

3 Months Ended

Mar. 31, 2015

Tower Financial Corporation [Member]

Schedule of Purchase Price Allocation

A summary of the final purchase price allocation is as follows (in thousands):

Cash and cash equivalents	$	56,345
Investment securities		140,567
Federal Home Loan Bank stock		2,192
Loans held for sale		474
Loans		371,054
Premises and equipment		8,516
Accrued interest receivable		2,371
Other real estate owned		473
Company-owned life insurance		21,281
Other assets		15,200
Deposits		(527,995	)
Short-term borrowings		(18,898	)
Other borrowings		(21,113	)
Accrued expenses and other liabilities		(4,681	)
Net tangible assets acquired		45,786
Definite-lived intangible assets acquired		8,382
Goodwill		56,203
Purchase price	$	110,371

Schedule of Components of Estimated Fair Value of Intangible Assets

The components of the estimated fair value of the acquired identifiable intangible assets are in the table below. 

	Estimated Fair Value (in millions)		Estimated Useful Lives (Years)
Core deposit intangible	$	4.6		7
Trust customer relationship intangible	$	3.8		12

Summary of Acquired Loan Data

Acquired loan data for Tower can be found in the table below:

(in thousands)	Fair Value of Acquired Loans at Acquisition Date		Gross Contractual Amounts Receivable at Acquisition Date		Best Estimate at Acquisition Date of Contractual Cash Flows Not Expected to be Collected
Acquired receivables subject to ASC 310-30	$	12,855	$	22,746	$	5,826
Acquired receivables not subject to ASC 310-30	$	358,199	$	450,865	$	42,302

United Bancorp, Inc. [Member]

Schedule of Purchase Price Allocation

the purchase price for the United acquisition is allocated as follows (in thousands):

Cash and cash equivalents	$	16,447
Investment securities		154,885
Federal Home Loan Bank stock		2,880
Loans held for sale		1,073
Loans		632,016
Premises and equipment		7,741
Accrued interest receivable		2,614
Other real estate owned		1,676
Company-owned life insurance		14,857
Other assets		16,822
Deposits		(763,681	)
Short-term borrowings		(10,420	)
Other borrowings		(12,515	)
Accrued expenses and other liabilities		(8,337	)
Net tangible assets acquired		56,058
Definite-lived intangible assets acquired		10,763
Loan servicing rights		8,983
Goodwill		81,952
Purchase price	$	157,756

Schedule of Components of Estimated Fair Value of Intangible Assets

The components of the estimated fair value of the acquired identifiable intangible assets are in the table below. 

	Estimated Fair Value (in millions)		Estimated Useful Lives (Years)
Core deposit intangible	$	5.9		7
Trust customer relationship intangible	$	4.9		12

Summary of Acquired Loan Data

Acquired loan data for United can be found in the table below:

(in thousands)	Fair Value of Acquired Loans at Acquisition Date		Gross Contractual Amounts Receivable at Acquisition Date		Best Estimate at Acquisition Date of Contractual Cash Flows Not Expected to be Collected
Acquired receivables subject to ASC 310-30	$	8,391	$	15,483	$	5,487
Acquired receivables not subject to ASC 310-30	$	623,625	$	798,967	$	89,430

LSB Financial Corp. [Member]

Schedule of Purchase Price Allocation

the purchase price for the LSB acquisition is allocated as follows (in thousands):

Cash and cash equivalents	$	7,589
Investment securities		63,684
Federal Home Loan Bank stock		3,185
Loans held for sale		1,035
Loans		236,607
Premises and equipment		6,492
Accrued interest receivable		1,044
Other real estate owned		30
Company-owned life insurance		7,438
Other assets		11,031
Deposits		(292,068	)
Other borrowings		(15,203	)
Accrued expenses and other liabilities		(4,582	)
Net tangible assets acquired		26,282
Definite-lived intangible assets acquired		2,618
Loan servicing rights		990
Goodwill		39,705
Purchase price	$	69,595

Summary of Acquired Loan Data

Acquired loan data for LSB can be found in the table below:

(in thousands)	Fair Value of Acquired Loans at Acquisition Date		Gross Contractual Amounts Receivable at Acquisition Date		Best Estimate at Acquisition Date of Contractual Cash Flows Not Expected to be Collected
Acquired receivables subject to ASC 310-30	$	11,986	$	24,493	$	9,903
Acquired receivables not subject to ASC 310-30	$	224,621	$	340,832	$	57,884

Founders Financial Corporation [Member]

Schedule of Purchase Price Allocation

the purchase price for the Founders acquisition is allocated as follows (in thousands):

Cash and cash equivalents	$	3,978
Investment securities		75,383
Federal Home Loan Bank stock		1,810
Loans held for sale		3,473
Loans		339,569
Premises and equipment		3,604
Accrued interest receivable		1,260
Other real estate owned		674
Company-owned life insurance		8,297
Other assets		8,866
Deposits		(376,656	)
Other borrowings		(39,380	)
Accrued expenses and other liabilities		(1,579	)
Net tangible assets acquired		29,299
Definite-lived intangible assets acquired		5,515
Loan servicing rights		664
Goodwill		56,224
Purchase price	$	91,702

Schedule of Components of Estimated Fair Value of Intangible Assets

The components of the estimated fair value of the acquired identifiable intangible assets are in the table below. 

	Estimated Fair Value (in millions)		Estimated Useful Lives (Years)
Core deposit intangible	$	3.0		7
Trust customer relationship intangible	$	2.5		12

Summary of Acquired Loan Data

Acquired loan data for Founders can be found in the table below:

(in thousands)	Fair Value of Acquired Loans at Acquisition Date		Gross Contractual Amounts Receivable at Acquisition Date		Best Estimate at Acquisition Date of Contractual Cash Flows Not Expected to be Collected
Acquired receivables subject to ASC 310-30	$	6,607	$	11,103	$	2,684
Acquired receivables not subject to ASC 310-30	$	332,962	$	439,031	$	61,113