v3.26.1
BUSINESS COMBINATIONS (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Expenses Related to the Acquisition Acquisition-related expenses recognized during the three and six months ended June 30, 2026 and 2025 are summarized below.
Three Months EndedSix Months Ended
(dollars in thousands)June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Salaries$(44)$—$3,959$—
Occupancy of bank premises13—118—
Furniture and equipment9—72—
Data processing91—8,759—
Marketing and customer relations5—74—
Loan collection and servicing28—348—
Professional fees and other noninterest expense155—2,593—
Total acquisition-related expenses$257$—$15,923$—
Schedule of Assets Acquired and Liabilities Assumed
The fair value of the assets acquired and liabilities assumed from CNB on the acquisition date of March 1, 2026 were as follows (dollars in thousands):
Fair Value
Assets acquired:
Cash and cash equivalents$48,873
Interest-bearing time deposits with banks245
Debt securities364,930
Equity securities3,868
Restricted stock5,251
Loans held for sale287
Loans, before allowance for credit losses1,296,340
Allowance for credit losses(19,957)
Loans, net of allowance for credit losses1,276,383
Bank owned life insurance12,829
Bank premises and equipment16,126
Intangible assets30,083
Intangible assets held for sale649
Mortgage servicing rights2,949
Accrued interest receivable13,795
Other assets15,550
Total assets acquired1,791,818
Liabilities assumed:
Deposits1,516,838
Repurchase Agreements18,354
FHLB advances71,839
Other liabilities24,849
Total liabilities assumed1,631,880
Net assets acquired$159,938
Consideration paid:
Cash$33,837
Common stock148,230
Total consideration paid$182,067
Goodwill$22,129
Schedule of PCD Loans at Acquisition The following table provides a summary of these PCD loans at acquisition (dollars in thousands):
Unpaid principal balance$163,879
Allowance for credit losses at acquisition(2,509)
Non-credit discount(10,121)
Purchase price$151,249
Schedule of Acquisition Related Expenses The acquisition-related expenses that have been recognized are included in net income in the following table.
Pro Forma
Three Months EndedSix Months Ended
(dollars in thousands, except per share data)June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Total revenues (net interest income and noninterest income)$79,722$80,468$160,767$158,410
Net income26,91525,70449,14337,273
Earnings per share - basic0.740.691.341.01
Earnings per share - diluted0.740.691.341.00