Acquisitions Acquisitions (Tables)

3 Months Ended

Mar. 31, 2019

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table details the total consideration paid on January 1, 2019 in connection with the acquisition of PBI, the fair values of the assets acquired and liabilities assumed and the resulting preliminary goodwill.

(Dollars in thousands)	As Recorded by PBI			Estimated Fair Value Adjustments			Estimated Fair Values as Recorded by Summit
Cash consideration							$	12,740
Stock consideration							8,997
Total consideration							21,737
Identifiable assets acquired:
Cash and cash equivalents	$	33,422		$	(93	)	$	33,329
Securities available for sale, at fair value	55,206			(93		)	55,113
Loans
Purchased performing	42,376			(977		)	41,399
Purchased credit impaired	—			—			—
Allowance for loan losses	(410		)	410			—
Premises and equipment	1,382			(567		)	815
Property held for sale	—			—			—
Core deposit intangibles	—			2,129			2,129
Other assets	1,110			(100		)	1,010
Total identifiable assets acquired	$	133,086		$	709		$	133,795
Identifiable liabilities assumed:
Deposits	112,064			316			112,380
Other liabilities	1,422			111			1,533
Total identifiable liabilities assumed	$	113,486		$	427		$	113,913
Net identifiable assets acquired	$	19,600		$	282		$	19,882
Preliminary goodwill resulting from acquisition							$	1,855

Financial Effects of Purchase Accounting Adjustments [Table Text Block]

The following presents the financial effects of adjustments recognized in the statements of income for the three months ended March 31, 2019 and 2018 related to business combinations that occurred during 2016, 2017 and 2018.

	Income increase (decrease)
Dollars in thousands	Three Months Ended March 31, 2019			Three Months Ended March 31, 2018
Interest and fees on loans	$	(9	)	$	145
Interest expense on deposits	88			61
Amortization of intangibles	(426		)	(386		)
Income before income tax expense	$	(347	)	$	(180	)