Acquisitions (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table represents, in thousands, the amounts recorded on the consolidated balance sheet as of November 30, 2015:



	As of November 30, 2015
Fair value of consideration paid
Common stock (1,758,543 shares)	$	67,018
Cash	28,522
Total consideration paid	95,540
Fair value of assets acquired
Cash and due from banks	77,127
Securities:
Securities available for sale	181,647
Securities held to maturity	—
Other securities	4,554
Loans held for sale	—
Loans held to maturity	389,787
Premises, furniture and equipment, net	4,221
Other real estate, net	—
Core deposit intangibles and customer relationship intangibles, net	8,596
Other assets	26,790
Total assets	692,722
Fair value of liabilities assumed
Deposits	622,676
Short term borrowings	—
Other borrowings	—
Other liabilities	15,530
Total liabilities assumed	638,206
Fair value of net assets acquired	54,516
Goodwill resulting from acquisition	$	41,024

The following table represents, in thousands, the amounts recorded on the consolidated balance sheet as of January 16, 2015:



	As of January 16, 2015
Fair value of consideration paid
Common stock (1,970,720 shares)	$	53,052
Cash	6
Total consideration paid	53,058
Fair value of assets acquired
Cash and due from banks	7,109
Securities:
Securities available for sale	52,976
Other securities	1,284
Loans held for sale	728
Loans held to maturity	395,007
Premises, furniture and equipment, net	13,954
Other real estate, net	346
Core deposit intangibles and customer relationship intangibles, net	10,295
Other assets	25,066
Total assets	506,765
Fair value of liabilities assumed
Deposits	433,919
Short term borrowings	24,836
Other borrowings	6,097
Other liabilities	7,434
Total liabilities assumed	472,286
Fair value of net assets acquired	34,479
Goodwill resulting from acquisition	$	18,579

The following table represents, in thousands, the amounts recorded on the consolidated balance sheet as of February 5, 2016:



	As of February 5, 2016
Fair value of consideration paid
Common stock (2,003,235 shares)	$	57,433
Preferred stock (3,000 shares)	3,777
Cash	15,672
Total consideration paid	76,882
Fair value of assets acquired:
Cash and due from banks	23,756
Securities:
Securities available for sale	92,831
Other securities	3,486
Loans held to maturity	581,477
Premises, furniture and equipment, net	16,450
Other real estate, net	1,934
Core deposit intangibles and customer relationship intangibles, net	6,576
Other assets	16,276
Total assets	742,786
Fair value of liabilities assumed:
Deposits	648,111
Short term borrowings	35,766
Other borrowings	7,924
Other liabilities	3,951
Total liabilities assumed	695,752
Fair value of net assets acquired	47,034
Goodwill resulting from acquisition	$	29,848

Summary of Pro Forma Information

The following pro forma information presents the results of operations for the years ended December 31, 2016 and December 31, 2015 as if the CIC Bancshares, Inc. acquisition occurred on January 1, 2015:



(Dollars in thousands, except per share data), unaudited	For the Years Ended December 31,
	2016		2015
Net interest income	$	296,888	$	259,531
Net income available to common shareholders	$	80,179	$	59,491
Basic earnings per share	$	3.24	$	2.63
Diluted earnings per share	$	3.20	$	2.58