v3.26.1
BUSINESS COMBINATIONS (Tables) - BOH Holdings, Inc. [Member]
 6 Months Ended
Jun. 30, 2026
BUSINESS COMBINATIONS [Abstract]  
Fair Value of Assets Acquired and Liabilities Assumed
The following table details the purchase consideration and the preliminary determination of the purchase consideration to the fair value of the assets acquired and liabilities assumed from BOH as of the closing date of the Merger on April 1, 2026 (dollars in thousands):

Purchase consideration:
      
Fair value of common stock issued
  
$
117,468
  
Cash paid to settle outstanding warrants and stock appreciation rights
    
597
  
Cash paid in lieu of fractional shares
    
3
  
Total consideration
  
$
118,068
  
         
Assets acquired:
        
Cash and due from banks
  
$
4,988
  
Interest-bearing deposits in banks
    
26,435
  
Securities available for sale
    
6,847
  
Loans held for investment, net
    
623,926
  
Premises and equipment, net
    
923
  
Bank-owned life insurance
    
11,214
  
Core deposit intangible (10 year life)
    
4,980
  
Deferred tax asset, net
    
840
  
Other assets
    
5,433
  
Total assets acquired
    
685,586
  
         
Liabilities assumed:
        
Noninterest-bearing deposits
    
92,315
  
Interest-bearing deposits
    
503,530
  
Short-term borrowings
    
15,000
  
Accrued expenses and other liabilities
    
3,950
  
Total liabilities assumed
    
614,795
  
Preliminary fair value of net assets acquired
    
70,791
  
Preliminary goodwill recorded in acquisition
  
$
47,277
  
Fair Value and Unpaid Principal Balance of Acquired Loans
The following table includes the fair value and unpaid principal balance of the acquired loans on the April 1, 2026 acquisition date (dollars in thousands):

   
Unpaid Principal Balance
    
Premium (Discount)
    
ACL on Acquired Loans
    
Fair Value
of Acquired Loans
  
PCD loans
  
$
89,004
    
$
(1,579
)
  
$
(3,173
)
  
$
84,252
  
PSLs
    
543,503
      
1,471
      
(5,300
)
    
539,674
  
   
$
632,507
    
$
(108
)
  
$
(8,473
)
  
$
623,926
  
Pro Forma Information
Information for the three and six months ended June 30, 2026 reflects the actual results of the Company, excluding merger costs, and the actual results of BOH for the three months ended March 31, 2026, excluding merger costs and including amortization of intangible assets. Information for the three and six months ended June 30, 2025, includes BOH’s actual results for those periods and reflects adjustments related to the amortization of intangible assets.

   
Three Months Ended
June 30,
    
Six Months Ended
June 30,
  
(dollars in thousands)
  
2026
    
2025
    
2026
    
2025
  
Total revenue(1)
  
$
47,588
    
$
46,068
    
$
132,997
    
$
131,951
  
Net income
    
18,074
      
14,925
      
38,784
      
38,545
  

(1) Total revenue is defined as the sum of net interest income plus non-interest income.