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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2019
Goodwill [Line Items] |
Changes in Goodwill | The following table presents the changes in the carrying amount of goodwill as of December 31, 2019 and 2018:
| Year ended December 31
(Dollars in thousands) | 2019 |  | 2018
Beginning Balance | $ | 236,347 |  |  | $ | 150,601 |
Recognized in the Biscayne Bancshares acquisition | 46,521 |  |  | — |
Recognized in the First South Bancorp acquisition | 13,896 |  |  | — |
Recognized in the Entegra acquisition | 52,634 |  |  | — |
Recognized in HomeBancorp acquisition | — |  |  | 57,616 |
Recognized in Capital Commerce acquisition | — |  |  | 10,680 |
Recognized in Palmetto Heritage acquisition | — |  |  | 17,450 |
Balance at December 31 | $ | 349,398 |  |  | $ | 236,347 |
Mortgage Servicing Rights Key Economic Assumptions Used to Value | Key economic assumptions used to value mortgage servicing rights as of December 31, 2019 and 2018, were as follows:
| 2019 |  | 2018
Discount rate - conventional fixed loans | 8.92 | % |  | 9.69 | %
Discount rate - all loans excluding conventional fixed loans | 9.92 | % |  | 10.69 | %
Weighted average constant prepayment rate | 13.72 | % |  | 9.26 | %
Weighted average cost to service a loan | $ | 87.09 |  |  | $ | 87.52 |
Schedule of Mortgage Servicing Rights at Amortized Cost | The activity of the mortgage servicing asset for the years ended December 31, 2019, 2018 and 2017 is presented in the following table:
(Dollars in thousands) | 2019 |  | 2018 |  | 2017
Balance at January 1 | $ | 21,396 |  |  | $ | 21,945 |  |  | $ | 20,415 |
Servicing rights originated | 6,149 |  |  | 5,258 |  |  | 7,174 |
Servicing rights acquired in Entegra transaction | 1,873 |  |  | — |  |  | — |
Amortization | (6,233 | ) |  | (5,807 | ) |  | (5,648 | )
Valuation allowance (increase) decrease | (222 | ) |  | — |  |  | 4 |
Balance at December 31 | $ | 22,963 |  |  | $ | 21,396 |  |  | $ | 21,945 |
Schedule of Other Intangible Assets | The following information relates to core deposit intangible assets, which are being amortized over their estimated useful lives:
(Dollars in thousands) | 2019 |  | 2018
Balance at January 1 | $ | 48,232 |  |  | $ | 51,151 |
Acquired in Biscayne Bancshares transaction | 4,745 |  |  | — |
Acquired in First South Bancorp transaction | 2,268 |  |  | — |
Acquired in Entegra transaction | 4,487 |  |  | — |
Acquired in the HomeBancorp transaction | — |  |  | 9,860 |
Acquired in the Capital Commerce transaction | — |  |  | 2,680 |
Acquired in the Palmetto Heritage transaction | — |  |  | 1,706 |
Amortization | (16,346 | ) |  | (17,165 | )
Balance at December 31 | $ | 43,386 |  |  | $ | 48,232 |
The gross amount of core deposit intangible assets and accumulated amortization as of December 31, 2019 and 2018, are:
(Dollars in thousands) | 2019 |  | 2018
Gross balance | $ | 154,507 |  |  | $ | 143,007 |
Accumulated amortization | (111,121 | ) |  | (94,775 | )
Carrying value | $ | 43,386 |  |  | $ | 48,232 |
Future Amortization Expense Schedule | Based on current estimated useful lives and carrying values, BancShares anticipates amortization expense for core deposit intangibles in subsequent periods will be:
(Dollars in thousands) |
2020 | $ | 14,165 |
2021 | 10,850 |
2022 | 7,658 |
2023 | 5,056 |
2024 and subsequent | 5,657 |
| $ | 43,386 |

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