| Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the merger date, net of cash consideration paid (in thousands): | | | | | | | | | | | As of May 16, 2024 | | Assets acquired: | | | | Cash and cash equivalents, net | | $ | 194,548 | | | Available for sale debt securities | | 1,585,993 | | | | | | Federal Home Loan Bank stock | | 46,113 | | | Loans held for sale | | 1,494 | | | Loans held for investment | | 7,906,326 | | | Allowance for credit losses on PCD loans | | (17,188) | | | Loans, net | | 7,889,138 | | | Bank-owned life insurance | | 160,646 | | | Banking premises and equipment | | 60,578 | | | Accrued interest receivable | | 27,241 | | | Goodwill | | 180,446 | | | Other intangibles assets | | 209,915 | | | | | | Other assets | | 236,481 | | | Total assets acquired | | $ | 10,592,593 | | | | | | Liabilities assumed: | | | | Deposits | | $ | 8,622,924 | | | Mortgage escrow deposits | | 5,532 | | | Borrowed funds | | 785,927 | | | Subordinated debentures | | 166,366 | | | Other liabilities | | 135,066 | | | Total liabilities assumed | | $ | 9,715,815 | | | | | | Net assets acquired | | $ | 876,779 | |
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