Acquisition (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Summary of Net Assets Acquired and Consideration Transferred

The table below summarizes the final purchase price allocation and the net assets acquired (at fair value) and consideration transferred in connection with the Garfield acquisition (dollars in thousands):

Consideration Paid
Cash paid to shareholders	$	17,400
Shares issued to shareholders (2,745,098 shares)	41,561
Total consideration paid			$	58,961
Fair Value of Assets Acquired
Cash and cash equivalents	18,105
FHLB Stock	3,261
Loans	184,506
Premises and other equipment	409
Core deposit intangible	1,248
Other assets	1,747
Total assets acquired	209,276
Fair Value of Liabilities Assumed
Deposits	141,281
Federal Home Loan Bank borrowings	22,988
Other liabilities	5,068
Total liabilities assumed	169,337
Total Fair Value of Identifiable Net Assets			39,939
Goodwill			$	19,022

The table below summarizes the final purchase price allocation and the net assets acquired (at fair value) and consideration received in connection with the Santander acquisition (dollars in thousands):

Consideration Received
Cash received		$	329,533
Fair Value of Assets Acquired
Cash and cash equivalents	2,935
Loans	99,956
Premises and other equipment	3,637
Core deposit intangible	5,615
Other assets	770
Total assets acquired	112,913
Fair Value of Liabilities Assumed
Deposits	471,386
Other liabilities	186
Total liabilities assumed	471,572
Total Fair Value of Identifiable Net Assets		(358,659		)
Goodwill		$	29,126