Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS (Tables)

v3.6.0.2
ACQUISITIONS (Tables)
 12 Months Ended
Dec. 31, 2016
Business Combinations [Abstract]  
Summary of Acquisition-Related Expenses
A summary of acquisition-related expenses associated with the StellarOne acquisition included on the Consolidated Statements of Income is as follows (dollars in thousands): 

 
For the year ended
December 31,
 
2014
Salaries and employee benefits
$
7,875

Professional services
3,736

Other costs of operations
8,734

Total
$
20,345

Schedule of Effect of Amortization and Accretion Related to Acquisition
The net effect of the amortization and accretion of premiums and discounts associated with the Company’s acquisition accounting adjustments had the following impact on the Consolidated Statements of Income during the years ended December 31, 2016, 2015, and 2014 (dollars in thousands):
 
For the years ended
December 31,
 
2016
 
2015
 
2014
Loans (1)
$
5,218

 
$
4,355

 
$
586

Core deposit intangible (2)
(6,930
)
 
(8,445
)
 
(9,795
)
Borrowings (3)
458

 
424

 
550

Time deposits (4)
—

 
1,843

 
8,914

Other amortizable intangibles (2)
(280
)
 
—

 
—

Net impact to income before taxes
$
(1,534
)
 
$
(1,823
)
 
$
255

(1) Loan discount accretion is included in "Interest and fees on loans" in the "Interest and dividend income" section of the Company's Consolidated Statements of Income.
(2) Core deposit and other intangible premium amortization is included in "Amortization of intangible assets" in the "Noninterest expense" section of the Company's Consolidated Statements of Income.
(3) Borrowings premium accretion is included in "Interest on long-term borrowings" in the "Interest Expense" section of the Company's Consolidated Statements of Income.
(4) Certificate of deposit discount accretion is included in "Interest on deposits" in the "Interest expense" section of the Company's Consolidated Statements of Income.