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Acquisition Activity (Tables)
 9 Months Ended
Sep. 30, 2016
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition
Acquisition of Georgia Commerce Bancshares, Inc
(Dollars in thousands)
Number of Shares
 
Amount
Equity consideration
 
 
 
Common stock issued
2,882,357

 
$
185,249

Total equity consideration
 
 
185,249

Non-Equity consideration
 
 
 
Cash
 
 
5,015

Total consideration paid
 
 
190,264

Fair value of net assets assumed including identifiable intangible assets
 
 
103,569

Goodwill
 
 
$
86,695

Acquisition of Old Florida Bancshares, Inc.

(Dollars in thousands)
Number of Shares
 
Amount
Equity consideration
 
 
 
Common stock issued
3,839,554

 
$
242,007

Total equity consideration
 
 
242,007

Non-Equity consideration
 
 
 
Cash
 
 
11,145

Total consideration paid
 
 
253,152

Fair value of net assets assumed including identifiable intangible assets
 
 
152,375

Goodwill
 
 
$
100,777

Acquisition of Florida Bank Group, Inc.
(Dollars in thousands)
Number of Shares
 
Amount
Equity consideration
 
 
 
Common stock issued
752,493

 
$
47,497

Total equity consideration
 
 
47,497

Non-Equity consideration
 
 
 
Cash
 
 
42,988

Total consideration paid
 
 
90,485

Fair value of net assets assumed including identifiable intangible assets
 
 
73,043

Goodwill
 
 
$
17,442
Schedule of Assets Acquired and Liabilities Assumed
(Dollars in thousands)
As Acquired
 

Fair Value
Adjustments
 
As recorded by
the Company
Assets
 
 
 
 
 
Cash and cash equivalents
$
72,982

 
$
—

  
$
72,982

Investment securities
107,236

 
136

(1) 
107,372

Loans
312,902

 
(5,371
)
(2)  
307,531

Other real estate owned
498

 
(75
)
(3) 
423

Core deposit intangible
—

 
4,489

(4)  
4,489

Deferred tax asset, net
18,151

 
8,569

(5)  
26,720

Other assets
29,817

 
(8,949
)
(6)  
20,868

Total Assets
$
541,586

 
$
(1,201
)
 
$
540,385

Liabilities
 
 
 
 
 
Interest-bearing deposits
$
282,417

 
$
263

(7) 
$
282,680

Non-interest-bearing deposits
109,548

 
—

 
109,548

Borrowings
60,000

 
8,598

(8) 
68,598

Other liabilities
1,898

 
4,618

(9) 
6,516

Total Liabilities
$
453,863

 
$
13,479

  
$
467,342

Explanation of certain fair value adjustments:
 
(1)
The amount represents the adjustment of the book value of Florida Bank Group’s investments to their estimated fair value on the date of acquisition.
(2)
The amount represents the adjustment of the book value of Florida Bank Group's loans to their estimated fair values based on acquisition date interest rates and expected cash flows, which includes estimates of expected credit losses inherent in the portfolio.
(3)
The adjustment represents the adjustment of Florida Bank Group's OREO to its estimated fair value less costs to sell on the date of acquisition.
(4)
The amount represents the fair value of the core deposit intangible asset created in the acquisition.
(5)
The amount represents the deferred tax asset recognized on the fair value adjustments of Florida Bank Group acquired assets and assumed liabilities.
(6)
The amount represents the adjustment of the book value of Florida Bank Group’s property, equipment, and other assets to their estimated fair value at the acquisition date based on their appraised value.
(7)
The amount represents the adjustment of the book value of Florida Bank Group's time deposits to their estimated fair values at the date of acquisition.
(8)
The amount represents the adjustment of the book value of Florida Bank Group’s borrowings to their estimated fair value based on acquisition date interest rates and the credit characteristics inherent in the liability.
(9)
The amount is necessary to record Florida Bank Group's rent liability at fair value.
(Dollars in thousands)
As Acquired
 
Fair Value
Adjustments
 
As recorded by
the Company
Assets
 
 
 
 
 
Cash and cash equivalents
$
51,059

 
$
—

 
$
51,059

Investment securities
135,710

 
(807
)
(1) 
134,903

Loans held for sale
1,249

 
—

 
1,249

Loans
807,726

 
(15,607
)
(2) 
792,119

Other real estate owned
9,795

 
(4,207
)
(3) 
5,588

Core deposit intangible
—

 
6,720

(4) 
6,720

Deferred tax asset, net
3,603

 
5,452

(5) 
9,055

Other assets
28,956

 
(657
)
(6) 
28,299

Total Assets
$
1,038,098

 
$
(9,106
)
 
$
1,028,992

Liabilities
 
 
 
 
 
Interest-bearing deposits
658,133

 
176

(7) 
658,309

Non-interest-bearing deposits
249,739

 
—

 
249,739

Borrowings
13,204

 
—

 
13,204

Other liabilities
4,171

 
—

 
4,171

Total Liabilities
$
925,247

 
$
176

 
$
925,423


Explanation of certain fair value adjustments:
 
(1)
The amount represents the adjustment of the book value of Georgia Commerce’s investments to their estimated fair value on the date of acquisition.
(2)
The amount represents the adjustment of the book value of Georgia Commerce's loans to their estimated fair value based on acquisition date interest rates and expected cash flows, which includes estimates of expected credit losses inherent in the portfolio.
(3)
The adjustment represents the adjustment of Georgia Commerce's OREO to its estimated fair value less costs to sell on the date of acquisition.
(4)
The amount represents the fair value of the core deposit intangible asset created in the acquisition.
(5)
The amount represents the net deferred tax asset recognized on the fair value adjustment of Georgia Commerce acquired assets and assumed liabilities.
(6)
The amount represents the adjustment of the book value of Georgia Commerce’s property, equipment, and other assets to their estimated fair value at the acquisition date based on their appraised value.
(7)
The amount represents the adjustment of the book value of Georgia Commerce's time deposits to their estimated fair values at the date of acquisition.
 
(Dollars in thousands)
As Acquired
 

Fair Value
Adjustments
 
As recorded by
the Company
 
 
 
Assets
 
 
 
 
 
 
Cash and cash equivalents
$
360,688

 
$
—

  
$
360,688

 
Investment securities
67,209

 
—

 
67,209

 
Loans held for sale
5,952

 
—

 
5,952

 
Loans
1,073,773

 
(10,822
)
(1) 
1,062,951

 
Other real estate owned
4,515

 
1,449

(2) 
5,964

 
Core deposit intangible
—

 
6,821

(3) 
6,821

 
Deferred tax asset, net
9,490

 
4,388

(4) 
13,878

 
Other assets
30,549

 
(7,238
)
(5) 
23,311

 
Total Assets
$
1,552,176

 
$
(5,402
)
  
$
1,546,774

 
Liabilities
 
 
 
 
 
 
Interest-bearing deposits
$
1,048,765

 
$
123

(6) 
$
1,048,888

 
Non-interest-bearing deposits
340,869

 
—

  
340,869

 
Borrowings
1,528

 
—

  
1,528

 
Other liabilities
3,038

 
76

(7) 
3,114

 
Total Liabilities
$
1,394,200

 
$
199

  
$
1,394,399

Explanation of certain fair value adjustments:
 
(1)
The amount represents the adjustment of the book value of Old Florida's loans to their estimated fair values based on acquisition date interest rates and expected cash flows, which includes estimates of expected credit losses inherent in the portfolio.
(2)
The adjustment represents the adjustment of Old Florida's OREO to its estimated fair value less costs to sell on the date of acquisition.
(3)
The amount represents the fair value of the core deposit intangible asset created in the acquisition.
(4)
The amount represents the net deferred tax asset recognized on the fair value adjustment of Old Florida acquired assets and assumed liabilities.
(5)
The amount represents the adjustment of the book value of Old Florida’s property, equipment, and other assets to their estimated fair value at the acquisition date based on their appraised value.
(6)
The amount represents the adjustment of the book value of Old Florida's time deposits to their estimated fair values on the date of acquisition.
(7)
The adjustment is necessary to record Old Florida's rent liability at fair value.