Acquisitions and Preliminary Purchase Price Allocation (Tables)

9 Months Ended

Sep. 30, 2019

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The Company accounted for both acquisitions using the acquisition method pursuant to "Topic 805 Business Combinations" of the FASB Accounting Standards Codification. The acquisition method requires the acquirer to recognize the assets acquired and the liabilities assumed at their fair values as of the acquisition date. The following table summarizes the estimated fair value of the assets acquired and liabilities assumed as of the date of acquisition (in thousands):



	Farmers
	Deposit		Poage		Total
Consideration	$	24,900	$	83,936	$	108,836

Identifiable assets:
Cash and cash equivalents	4,173		34,325		38,498
Investment securities	46,235		72,321		118,556
Loans	58,485		304,359		362,844
Bank owned life insurance	—		7,439		7,439
Premises and equipment	568		4,547		5,115
Deferred tax assets, net	137		2,222		2,359
Other assets	2,302		8,770		11,072
Total identifiable assets	111,900		433,983		545,883

Identifiable liabilities:
Deposits	92,241		379,285		471,526
Short-term borrowings	2,025		—		2,025
Long-term debt	—		4,053		4,053
Other liabilities	651		3,032		3,683
Total identifiable liabilities	94,917		386,370		481,287

Net identifiable assets	16,983		47,613		64,596
Goodwill	4,583		28,269		32,852
Core deposit intangible	3,334		8,054		11,388
	$	24,900	$	83,936	$	108,836

Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period

Acquired Loans

The following table presents information regarding the purchased credit-impaired and noncredit-impaired loans acquired in conjunction with both acquisitions as of the date of acquisition (in thousands):



Acquired Credit-Impaired
Contractually required principal and interest	$	25,315
Contractual cash flows not expected to be collected (non-accretable difference)	(13,593		)
Expected cash flows	11,722
Interest component of expected cash flows (accretable difference)	(2,375		)
Carrying value of purchased credit-impaired loans acquired	$	9,347

Acquired Noncredit-Impaired
Outstanding balance	$	354,343
Less: fair value adjustment	(846		)
Carrying value of acquired noncredit-impaired loans	$	353,497

Schedule of Goodwill

The following table summarizes adjustments to goodwill subsequent to December 31, 2018 (in thousands):



	Goodwill

Balance at December 31, 2018	$	109,567
Adjustment to goodwill acquired in conjunction with the acquisition of Poage	(365		)
Adjustment to goodwill acquired in conjunction with the acquisition of Farmers Deposit	(154		)
Balance at September 30, 2019	$	109,048