MERGER (Tables)

6 Months Ended

Jun. 30, 2015

Merger

Schedule of fair value of consideration transferred, based on market price of PMC Commercial shares on Acquisition Date

	(in thousands, except per share data)
PMC Commercial common stock outstanding		2,119
Equity consideration price per share of common stock	$	21.05
Fair value of the equity consideration		44,610
Payment in cash—special dividend		58,279
Total purchase price	$	102,889

PMC Commercial

Merger

Schedule of allocation of purchase price

	(in thousands)
Assets
Cash and cash equivalents	$	3,185
Loans receivable		207,140
Accounts receivable and interest receivable		755
Other assets		5,396
Intangible assets		2,957
Total assets acquired		219,433
Liabilities
Debt		99,849
Accounts payable and accrued expenses		7,396
Special dividend liability and dividend payable		59,286
Other liabilities		3,374
Total liabilities assumed		169,905
Net identifiable assets acquired		49,528
Bargain purchase gain		(4,918	)
Net purchase price	$	44,610