ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The assets and liabilities of AimBank were recorded on the consolidated balance sheet at the estimated fair value on the acquisition date. Loans classified as non-PCD were recorded on acquisition date at fair value based on a discounted cash flow valuation methodology that considers, among other things, projected default rates, loss given defaults and recovery rates.

The following table represents, in thousands, the amounts recorded on the consolidated balance sheet as of December 4, 2020:

	As of December 4, 2020
Fair value of consideration paid:
Common stock (5,185,045 shares)	$	217,202
Cash	47,275
Total consideration paid	264,477
Fair value of assets acquired
Cash and cash equivalents	470,085
Securities:
Carried at fair value	267,936
Other securities	3,210
Loans held to maturity	1,087,041
Allowance for credit losses for loans	(12,055)
Net loans held to maturity	1,074,986
Premises, furniture and equipment, net	27,867
Other real estate, net	1,119
Core deposit intangibles and customer relationships, net	3,102
Cash surrender value on life insurance	13,418
Other assets	20,159
Total assets	1,881,882
Fair value of liabilities assumed
Deposits	1,670,715
Short term borrowings	26,306
Other liabilities	11,807
Total liabilities assumed	1,708,828
Fair value of net assets acquired	173,054
Goodwill resulting from acquisition	$	91,423

Schedule of Pro Forma Information

The following pro forma information represents the results of operations for the years ended December 31, 2020, and 2019, as if the AimBank acquisition occurred on January 1, 2020, and January 1, 2019, respectively:

Dollars in thousands, except per share data (unaudited)	For the Years Ended December 31,
	2020		2019
Net interest income	$	557,166	$	491,462
Net income available to common stockholders	167,168		170,010
Basic earnings per share	3.94		4.13
Diluted earnings per share	3.93		4.12