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BUSINESS COMBINATION AND BRANCH DIVESTITURE (Tables)
12 Months Ended
Dec. 31, 2019
AltaPacific Bank [Member]  
Schedule of Acquisition Components [Line Items]  
Business Combination Components [Table Text Block]
The following table presents a summary of the consideration paid and the estimated fair values as of the acquisition date for each major class of assets acquired and liabilities assumed (in thousands):
 
AltaPacific
 
November 1, 2019
Consideration to AltaPacific equity holders:
 
 
Cash paid
 
$
2,360

Fair value of common shares issued
 
85,200

Total consideration
 
87,560

 
 
 
Fair value of assets acquired:
 
 
Cash and cash equivalents
39,686

 
Securities
20,348

 
Federal Home Loan Bank stock
2,005

 
Loans receivable (contractual amount of $338.2 million)
332,355

 
Real estate owned held for sale
650

 
Property and equipment
3,809

 
Core deposit intangible
4,610

 
Bank-owned life insurance
11,890

 
Deferred tax asset
166

 
Other assets
10,150

 
Total assets acquired
425,669

 
 
 
 
Fair value of liabilities assumed:
 
 
Deposits
313,374

 
Advances from FHLB
40,226

 
Junior subordinated debentures
5,814

 
Deferred compensation
4,508

 
Other liabilities
8,154

 
Total liabilities assumed
372,076

 
 
 
 
Net assets acquired
 
53,593

Goodwill
 
$
33,967


Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Purchased-Credit-Impaired Loans
The following table presents the acquired AltaPacific PCI loans as of the acquisition date (in thousands):
 
AltaPacific
 
November 1, 2019
Acquired PCI loans:
 
Contractually required principal and interest payments
$
5,881

Nonaccretable difference
(1,046
)
Cash flows expected to be collected
4,835

Accretable yield
(683
)
Fair value of PCI loans
$
4,152


Skagit Bank [Member]  
Schedule of Acquisition Components [Line Items]  
Business Combination Components [Table Text Block]
The following table presents a summary of the consideration paid and the estimated fair values as of the acquisition date for each major class of assets acquired and liabilities assumed (in thousands):
 
Skagit
 
November 1, 2018
Consideration to Skagit equity holders:
 
 
Cash paid
 
$
329

Fair value of common shares issued
 
179,709

Total consideration
 
180,038

 
 
 
Fair value of assets acquired:
 
 
Cash and cash equivalents
$
19,167

 
Securities
210,326

 
Loans receivable (contractual amount of $645.6 million)
632,374

 
Real estate owned held for sale
2,593

 
Property and equipment
15,788

 
Core deposit intangible
16,368

 
Deferred tax asset
95

 
Other assets
19,110

 
Total assets acquired
915,821

 
 
 
 
Fair value of liabilities assumed:
 
 
Deposits
810,209

 
Other liabilities
22,069

 
Total liabilities assumed
832,278

 
 
 
 
Net assets acquired
 
83,543

Goodwill
 
$
96,495


Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Purchased-Credit-Impaired Loans
The following table presents the acquired Skagit PCI loans as of the acquisition date (in thousands):
 
Skagit
 
November 1, 2018
Acquired PCI loans:
 
Contractually required principal and interest payments
$
9,897

Nonaccretable difference
(1,915
)
Cash flows expected to be collected
7,982

Accretable yield
(995
)
Fair value of PCI loans
$
6,987