Fair Value of Assets Acquired and Liabilities Assumed |
A summary, at fair value, of the assets acquired and liabilities assumed in the Hardeman transaction, as of the acquisition date, is as follows: | | | | | | | | | | | | | (In thousands) | Acquired from Hardeman | | Fair Value Adjustments | | Fair Value | | | | | | | Assets Acquired | |
| | |
| | |
| Cash and due from banks | $ | 8,001 |
| | $ | — |
| | $ | 8,001 |
| Interest bearing balances due from banks - time | 1,984 |
| | — |
| | 1,984 |
| Investment securities | 170,654 |
| | (285 | ) | | 170,369 |
| Loans acquired | 257,641 |
| | (5,992 | ) | | 251,649 |
| Allowance for loan losses | (2,382 | ) | | 2,382 |
| | — |
| Foreclosed assets | 1,083 |
| | (452 | ) | | 631 |
| Premises and equipment | 9,905 |
| | 1,258 |
| | 11,163 |
| Bank owned life insurance | 7,819 |
| | — |
| | 7,819 |
| Goodwill | 11,485 |
| | (11,485 | ) | | — |
| Core deposit intangible | — |
| | 7,840 |
| | 7,840 |
| Other intangibles | — |
| | 830 |
| | 830 |
| Other assets | 2,639 |
| | (1 | ) | | 2,638 |
| Total assets acquired | $ | 468,829 |
|
| $ | (5,905 | ) |
| $ | 462,924 |
|
| | | | | | | | | | | | | Liabilities Assumed | |
| | |
| | |
| Deposits: | |
| | |
| | |
| Non-interest bearing transaction accounts | $ | 76,555 |
| | $ | — |
| | $ | 76,555 |
| Interest bearing transaction accounts and savings deposits | 214,872 |
| | — |
| | 214,872 |
| Time deposits | 97,917 |
| | (368 | ) | | 97,549 |
| Total deposits | 389,344 |
|
| (368 | ) |
| 388,976 |
| Securities sold under agreement to repurchase | 17,163 |
| | — |
| | 17,163 |
| Other borrowings | 3,000 |
| | — |
| | 3,000 |
| Subordinated debentures | 6,702 |
| | — |
| | 6,702 |
| Accrued interest and other liabilities | 1,891 |
| | 1,924 |
| | 3,815 |
| Total liabilities assumed | 418,100 |
|
| 1,556 |
|
| 419,656 |
| Equity | 50,729 |
| | (50,729 | ) | | — |
| Total equity assumed | 50,729 |
| | (50,729 | ) | | — |
| Total liabilities and equity assumed | $ | 468,829 |
|
| $ | (49,173 | ) |
| $ | 419,656 |
| Net assets acquired | | | | | 43,268 |
| Purchase price | | | | | 72,639 |
| Goodwill | | | | | $ | 29,371 |
|
A summary, at fair value, of the assets acquired and liabilities assumed in the First Texas transaction, as of the acquisition date, is as follows: | | | | | | | | | | | | | (In thousands) | Acquired from First Texas | | Fair Value Adjustments | | Fair Value | | | | | | | Assets Acquired | |
| | |
| | |
| Cash and due from banks | $ | 59,277 |
| | $ | — |
| | $ | 59,277 |
| Investment securities | 81,114 |
| | (596 | ) | | 80,518 |
| Loans acquired | 2,246,212 |
| | (37,834 | ) | | 2,208,378 |
| Allowance for loan losses | (20,864 | ) | | 20,664 |
| | (200 | ) | Premises and equipment | 24,864 |
| | 10,123 |
| | 34,987 |
| Bank owned life insurance | 7,190 |
| | — |
| | 7,190 |
| Goodwill | 37,227 |
| | (37,227 | ) | | — |
| Core deposit intangible | — |
| | 7,328 |
| | 7,328 |
| Other assets | 18,263 |
| | 11,485 |
| | 29,748 |
| Total assets acquired | $ | 2,453,283 |
|
| $ | (26,057 | ) |
| $ | 2,427,226 |
| | | | | | | Liabilities Assumed | | | | | | Deposits: | | | | | | Non-interest bearing transaction accounts | $ | 74,410 |
| | $ | — |
| | $ | 74,410 |
| Interest bearing transaction accounts and savings deposits | 1,683,298 |
| | — |
| | 1,683,298 |
| Time deposits | 124,233 |
| | (283 | ) | | 123,950 |
| Total deposits | 1,881,941 |
|
| (283 | ) |
| 1,881,658 |
| Securities sold under agreement to repurchase | 50,000 |
| | — |
| | 50,000 |
| Other borrowings | 235,000 |
| | — |
| | 235,000 |
| Subordinated debentures | 30,323 |
| | 589 |
| | 30,912 |
| Accrued interest and other liabilities | 11,727 |
| | 1,669 |
| | 13,396 |
| Total liabilities assumed | 2,208,991 |
|
| 1,975 |
|
| 2,210,966 |
| Equity | 244,292 |
| | (244,292 | ) | | — |
| Total equity assumed | 244,292 |
| | (244,292 | ) | | — |
| Total liabilities and equity assumed | $ | 2,453,283 |
|
| $ | (242,317 | ) |
| $ | 2,210,966 |
| Net assets acquired | | | | | 216,260 |
| Purchase price | | | | | 457,103 |
| Goodwill | | | | | $ | 240,843 |
|
A summary, at fair value, of the assets acquired and liabilities assumed in the OKSB transaction, as of the acquisition date, is as follows: | | | | | | | | | | | | | (In thousands) | Acquired from OKSB | | Fair Value Adjustments | | Fair Value | | | | | | | Assets Acquired | |
| | |
| | |
| Cash and due from banks | $ | 79,517 |
| | $ | — |
| | $ | 79,517 |
| Investment securities | 485,468 |
| | (1,295 | ) | | 484,173 |
| Loans acquired | 2,039,524 |
| | (43,071 | ) | | 1,996,453 |
| Allowance for loan losses | (26,957 | ) | | 26,957 |
| | — |
| Foreclosed assets | 6,284 |
| | (1,127 | ) | | 5,157 |
| Premises and equipment | 21,210 |
| | 5,457 |
| | 26,667 |
| Bank owned life insurance | 28,704 |
| | — |
| | 28,704 |
| Goodwill | 13,545 |
| | (13,545 | ) | | — |
| Core deposit intangible | 1,933 |
| | 40,191 |
| | 42,124 |
| Other intangibles | 3,806 |
| | — |
| | 3,806 |
| Other assets | 33,455 |
| | (9,141 | ) | | 24,314 |
| Total assets acquired | $ | 2,686,489 |
|
| $ | 4,426 |
|
| $ | 2,690,915 |
|
| | | | | | | | | | | | | Liabilities Assumed | |
| | |
| | |
| Deposits: | |
| | |
| | |
| Non-interest bearing transaction accounts | $ | 485,971 |
| | $ | — |
| | $ | 485,971 |
| Interest bearing transaction accounts and savings deposits | 869,252 |
| | — |
| | 869,252 |
| Time deposits | 613,345 |
| | (2,213 | ) | | 611,132 |
| Total deposits | 1,968,568 |
|
| (2,213 | ) |
| 1,966,355 |
| Securities sold under agreement to repurchase | 11,256 |
| | — |
| | 11,256 |
| Other borrowings | 347,000 |
| | — |
| | 347,000 |
| Subordinated debentures | 46,393 |
| | — |
| | 46,393 |
| Accrued interest and other liabilities | 17,440 |
| | 5,364 |
| | 22,804 |
| Total liabilities assumed | 2,390,657 |
|
| 3,151 |
|
| 2,393,808 |
| Equity | 295,832 |
| | (295,832 | ) | | — |
| Total equity assumed | 295,832 |
| | (295,832 | ) | | — |
| Total liabilities and equity assumed | $ | 2,686,489 |
|
| $ | (292,681 | ) |
| $ | 2,393,808 |
| Net assets acquired | | | | | 297,107 |
| Purchase price | | | | | 526,251 |
| Goodwill | | | | | $ | 229,144 |
|
|