XML 48 R31.htm IDEA: XBRL DOCUMENT v3.19.3
BUSINESS COMBINATIONS Business Combinations (Tables)
9 Months Ended
Sep. 30, 2019
Business Combinations [Abstract]  
Schedule of Business Acquisitions
The following table summarizes the consideration transferred and the fair values of identifiable assets acquired and liabilities assumed:
(Dollars in thousands)
Consideration Transferred:Fair Value
Common shares issued (21,816,355)
$949,968  
Cash paid to Beneficial stock and option holders228,239  
Value of consideration1,178,207  
Assets acquired:
Cash and due from banks304,311  
Investment securities619,853  
Loans and leases, net3,711,246  
Premises and equipment69,873  
Deferred income taxes18,485  
Bank owned life insurance82,510  
Core deposit intangible85,053  
Servicing rights intangible2,466  
Other assets135,862  
Total assets5,029,659  
Liabilities assumed:
Deposits4,056,506  
Other liabilities101,897  
Total liabilities4,158,403  
Net assets acquired:871,256  
Goodwill resulting from acquisition of Beneficial$306,951  
Schedule of Changes to Goodwill Subsequent to Acquisition
The following table details the change to goodwill recorded subsequent to acquisition:
(Dollars in thousands)Fair Value
Goodwill resulting from the acquisition of Beneficial reported as of March 31, 2019$309,486  
Effects of adjustments to:
Cash and due from banks246  
Investment securities(3,150) 
Loans911  
Premises and equipment(741) 
Deferred income taxes985  
Other assets(418) 
Deposits790  
Other liabilities(1,158) 
Adjusted goodwill resulting from the acquisition of Beneficial as of September 30, 2019$306,951