v3.26.1
Business Combinations (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination [Abstract]  
Schedule of the Final Estimated Fair Value of the Assets Acquired and Liabilities and Equity Assumed
The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of the acquisition date:
(In thousands)
Assets acquired:
Cash and cash equivalents$89,568 
Federal funds sold17 
Investment securities114,405 
Loans held for sale4,031 
Loans581,823 
Core deposit intangible17,322 
Premises and equipment860 
Operating lease right-of-use asset1,513 
Cash surrender value of life insurance22,440 
Deferred income taxes2,647 
Accrued interest receivable4,058 
Other assets3,816 
Total assets acquired$842,500 
Liabilities assumed:
Deposits:
Noninterest-bearing demand84,208 
Interest-bearing demand451,441 
Money market9,202 
Savings109,200 
Time92,860 
Operating lease liability1,513 
Accrued interest payable128 
Other liabilities3,114 
Total liabilities assumed$751,666 
Consideration transferred$106,120 
Cash paid in lieu of fractional shares$2 
Cash consideration for common stock37,489 
Purchase price assigned to stock options settled for cash716 
Fair value of common stock issued67,913 
Total$106,120 
Reconciliation to consideration transferred:
Total assets acquired$842,500 
Total liabilities assumed751,666 
Net assets acquired90,834 
Goodwill15,286 
Consideration transferred$106,120 
Schedule of Supplemental Pro Forma Information
The following supplemental pro forma information presents certain financial results for the three and six months ended June 30, 2026 and 2025 as if the merger of 1st Colonial was effective as of January 1, 2025. The supplemental unaudited pro forma financial information included in the table below is based on various estimates and is presented for informational purposes only and does not indicate the results of operations of the combined company that would have been achieved for the periods presented had the transaction been completed as of the date indicated or that may be achieved in the future.

(In thousands)Three Months Ended June 30, Six Months Ended June 30,
2026202520262025
Net interest income after provision for credit losses - loans$64,752 $52,203 $122,817 $100,827 
Noninterest income10,586 7,941 20,607 14,058 
Noninterest expense47,767 53,115 105,863 88,980 
Net income$21,691 $7,015 $29,666 $22,415