BUSINESS COMBINATIONS Mainland Bank On March 1, 2019, the Company completed the acquisition of Mainland Bank (Mainland) located in Texas City, Texas. The Company acquired 100% of Mainlands outstanding common shares for an aggregate merger consideration of 763,849 shares of the Companys common stock, for a total of approximately $18.6 million . The acquisition of Mainland expanded the Companys branch footprint into the greater Houston, Texas market, and added $128.4 million in total assets, $82.4 million in loans, and $107.6 million in deposits. As consideration paid was in excess of the net fair value of acquired assets, the Company recorded $4.5 million of goodwill. There were certain adjustments to the initial calculation of goodwill during the open measurement period in 2019 which were not material. Goodwill resulted from a combination of synergies and cost savings, expansion into Texas with the addition of three branch locations, and enhanced products and services. The table below shows the allocation of the consideration paid for Mainlands common equity to the acquired identifiable assets and liabilities assumed and the goodwill generated from the transaction (dollars in thousands). The fair values listed below, primarily related to loans and deferred tax assets and liabilities, are subject to refinement for up to one year after the closing date of the acquisition as additional information becomes available. Purchase price: Stock issued $ 18,637 Fair value of assets acquired: Cash and cash equivalents 38,365 Loans 82,431 Other real estate owned 1,507 Bank premises and equipment 2,550 Core deposit intangible asset 2,439 Other assets 1,081 Total assets acquired 128,373 Fair value of liabilities acquired: Deposits 107,646 Repurchase agreements 4,684 Other liabilities 1,883 Total liabilities assumed 114,213 Fair value of net assets acquired 14,160 Goodwill $ 4,477 Fair value adjustments to assets acquired and liabilities assumed are generally amortized using the effective yield method over periods consistent with the average life, useful life and/or contractual term of the related assets and liabilities. The fair value of net assets acquired includes a fair value adjustment to loans as of the acquisition date. The adjustment for the acquired loan portfolio is based on current market interest rates, and the Companys initial evaluation of credit losses identified. No loans acquired from Mainland were considered to be purchased credit impaired loans. The contractually required principal and interest payments of the loans acquired from Mainland are $91.9 million , of which $1.3 million is not expected to be collected. Bank of York On November 1, 2019, the Company completed the acquisition of Bank of York located in York, Alabama. The Company acquired 100% of Bank of Yorks outstanding common shares for an aggregate merger consideration of $15.0 million . The acquisition of Bank of York expanded the Companys branch footprint into the west Alabama market. The acquisition added $102.0 million in total assets, $46.1 million in loans, and $85.0 million in deposits. As consideration paid was in excess of the net fair value of acquired assets, the Company recorded $4.2 million of goodwill. Goodwill resulted from a combination of synergies and cost savings, and expansion into Alabama with the addition of two branch locations. The table below shows the allocation of the consideration paid for Bank of Yorks common equity to the acquired identifiable assets and liabilities assumed and the goodwill generated from the transaction (dollars in thousands). The fair values listed below, primarily related to loans and deferred tax assets and liabilities, are subject to refinement for up to one year after the closing date of the acquisition as additional information becomes available. Purchase price: Cash paid $ 15,000 Fair value of assets acquired: Cash and cash equivalents 50,771 Investments 451 Loans 46,127 Bank premises and equipment 917 Core deposit intangible asset 931 Bank owned life insurance 2,429 Other assets 351 Total assets acquired 101,977 Fair value of liabilities acquired: Deposits 85,004 Repurchase agreements 5,641 Other liabilities 562 Total liabilities assumed 91,207 Fair value of net assets acquired 10,770 Goodwill $ 4,230 The fair value of net assets acquired includes a fair value adjustment to loans as of the acquisition date. The adjustment for the acquired loan portfolio is based on current market interest rates, and the Companys initial evaluation of credit losses identified. The total contractually required principal and interest payments of the loans acquired from Bank of York are $51.5 million , of which $0.9 million is not expected to be collected. Loans acquired from Bank of York that are considered to be purchased credit impaired loans had a balance of $0.3 million . The total contractually required principal and interest payments of these loans are $0.3 million , of which $0.1 million is not expected to be collected. The change in goodwill and other intangibles at December 31, 2019 compared to December 31, 2018 is primarily attributable to the goodwill and core deposit intangibles recorded as a result of the Mainland and Bank of York acquisitions. Acquisition Expense Acquisition related costs of $2.1 million and $1.4 million are included in acquisition expenses in the accompanying consolidated statements of income for the years ended December 31, 2019 and 2018 , respectively. These costs include system conversion and integrating operations charges for Mainland and legal and consulting expenses related to the acquisitions of Mainland and Bank of York, as well as the system conversion and integrating operations charges for the acquisition of BOJ Bancshares, Inc. which closed on December 1, 2017.