Acquisition Activity (Tables)

9 Months Ended

Sep. 30, 2017

Acquisition of Sabadell United



(Dollars in thousands)	Number of Shares	Amount
Equity consideration
Common stock issued	2,610,304	$	211,043
Total equity consideration		211,043
Non-equity consideration
Cash		809,159
Total consideration paid		1,020,202
Fair value of net assets assumed including identifiable intangible assets		588,375
Goodwill		$	431,827



(Dollars in thousands)	Sabadell United Fair Value (Preliminary)
Assets
Cash and cash equivalents	$	318,650
Investment securities	964,123
Loans	4,026,240
Core deposit intangible	96,607
Deferred tax asset, net	38,922
Other assets	89,935
Total assets acquired	$	5,534,477
Liabilities
Deposit liabilities	$	4,383,049
Short-term borrowings	520,539
Other liabilities	42,514
Total liabilities assumed	$	4,946,102

Schedule of Pro Forma Information

The following table presents financial information regarding the former Sabadell United operations included in our unaudited consolidated statements of comprehensive income from the acquisition date (July 31, 2017) through September 30, 2017 under the column "Actual from acquisition date." The following table also presents unaudited pro forma information as if the acquisition occurred on January 1, 2016 under the "Unaudited Pro Forma" columns. The pro forma information does not necessarily reflect the results of operations that would have occurred had the Company acquired Sabadell United on January 1, 2016. Furthermore, cost savings and other business synergies related to the acquisition are not reflected in the pro forma amounts.



			Unaudited Pro Forma for
			Three months ended September 30,				Nine months ended September 30,
(Dollars in thousands)	Actual from acquisition date through September 30, 2017		2017		2016		2017		2016
Net interest income	$	20,611	$	232,828	$	210,736	$	688,846	$	632,209
Non-interest income	1,018		54,511		63,756		164,360		191,267
Net income	13,207		30,663		61,144		162,850		183,433