Business Combinations and Asset Acquisitions (Tables)

3 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The table below summarizes the preliminary net assets acquired (at fair value) and consideration transferred in connection with the Centric acquisition (dollars in thousands):

Consideration paid
Cash paid to shareholders - fractional shares	$	1
Shares issued to shareholders (9,688,478 shares)	141,355
Total consideration paid			$	141,356
Fair value of assets acquired
Cash and due from banks	14,492
Investment securities	34,302
FHLB stock	7,658
Loans	925,948
Premises and equipment	12,123
Core deposit intangible	16,671
Bank owned life insurance	4,502
Other assets	18,875
Total assets acquired	1,034,571
Fair value of liabilities assumed
Deposits	757,003
Borrowings	186,716
Other liabilities	6,582
Total liabilities assumed	950,301
Total fair value of identifiable net assets			84,270
Goodwill			$	57,086

Schedule of PCD Loans Purchased in Business Acquisition

The following table provides details related to the fair value of acquired PCD loans.

	Unpaid Principal Balance		PCD Allowance for Credit Loss at Acquisition		(Discount) Premium on Acquired Loans		Fair Value of PCD Loans at Acquisition
	(dollars in thousands)
Commercial, financial, agricultural and other	$	82,639	$	(15,949)	$	(84)	$	66,606
Time and demand	82,639		(15,949)		(84)		66,606
Real estate construction	29,947		(287)		(479)		29,181
Construction other	16,978		(227)		(179)		16,572
Construction residential	12,969		(60)		(300)		12,609
Residential real estate	16,564		(527)		(496)		15,541
Residential first lien	13,740		(197)		(264)		13,279
Residential junior lien/home equity	2,824		(330)		(232)		2,262
Commercial real estate	173,143		(5,313)		(6,193)		161,637
Multifamily	13,169		(234)		(1,413)		11,522
Nonowner occupied	97,037		(2,739)		(1,902)		92,396
Owner occupied	62,937		(2,340)		(2,878)		57,719
Loans to individuals	62		(3)		(3)		56
Automobile and recreational vehicles	62		(3)		(3)		56
Total loans and leases	$	302,355	$	(22,079)	$	(7,255)	$	273,021

Schedule of nonPCD Loans Purchased in Business Acquisition

The following table provides details related to the fair value and Day 1 provision related to the acquired non-PCD loans.

	Unpaid Principal Balance		(Discount) premium on acquired loans		Fair Value of Non-PCD Loans at Acquisition		Day 1 Provision for Credit Losses - Non-PCD Loans
	(dollars in thousands)
Commercial, financial, agricultural and other	$	167,509	$	(5,451)	$	162,058	$	3,482
Time and demand	165,781		(5,342)		160,439		3,436
Equipment finance	4		—		4		—
Time and demand other	1,724		(109)		1,615		46
Real estate construction	52,773		(1,126)		51,647		1,638
Construction other	34,801		(971)		33,830		1,146
Construction residential	17,972		(155)		17,817		492
Residential real estate	75,041		(2,593)		72,448		614
Residential first lien	53,612		(1,981)		51,631		437
Residential junior lien/home equity	21,429		(612)		20,817		177
Commercial real estate	378,777		(12,607)		366,170		4,911
Multifamily	45,475		(1,203)		44,272		514
Nonowner occupied	182,793		(5,660)		177,133		2,111
Owner occupied	150,509		(5,744)		144,765		2,286
Loans to individuals	640		(36)		604		8
Automobile and recreational vehicles	449		(25)		424		4
Consumer other	191		(11)		180		4
Total loans and leases	$	674,740	$	(21,813)	$	652,927	$	10,653