v3.26.1
ACQUISITION (Tables) - Centre
3 Months Ended
Mar. 31, 2026
Acquisitions  
Schedule of fair value of the assets acquired and liabilities assumed

The fair value of the assets acquired and liabilities assumed on January 1, 2026 was as follows:

As Recorded by 

  ​ ​ ​

Fair Value 

As Recorded by 

Centre

  ​ ​ ​

Adjustments

  ​ ​ ​

the Company

Cash, cash equivalents and securities

$

508,129

$

(2,493)

$

505,636

Other investments

 

6,660

 

64

6,724

Loans, net

 

987,951

 

(19,247)

968,704

Premises and equipment, net

 

17,672

 

(2,689)

14,983

Core deposit intangible

 

17

 

31,893

31,910

Other assets

 

80,754

 

(27,027)

53,727

Total assets acquired

$

1,601,183

$

(19,499)

$

1,581,684

Deposits

$

1,376,635

$

(393)

$

1,376,242

Other borrowings

 

67,841

 

1,323

 

69,164

Subordinated debentures

4,500

110

4,610

Junior subordinated debentures

8,250

8,250

Other liabilities

 

25,781

 

137

 

25,918

Total liabilities assumed

$

1,483,007

$

1,177

$

1,484,184

Excess of assets acquired over liabilities assumed

$

118,176

$

(20,676)

$

97,500

Less: purchase price

 

  ​

 

  ​

 

168,763

Goodwill

$

71,263

Schedule of loans purchased through acquisition

The Company purchased loans through the acquisition of Centre for which there was, at the date of acquisition, more than insignificant deterioration of credit quality since origination (PCD Loans). The carrying amount of these loans at acquisition was as follows:

January 1, 2026

Purchase price of PCD loans at acquisition

$

55,284

Non-credit discount on PCD loans at acquisition

2,742

Allowance for credit losses on PCD loans at acquisition

4,971

Par value of PCD acquired loans at acquisition

$

62,997

Schedule of unaudited pro forma information

  ​ ​ ​

Year Ended

(in thousands, except per share data)

  ​ ​ ​

December 31, 2025

Total revenue, net of interest expense

$

233,694

Net income

$

72,250

Diluted earnings per common share

$

6.41