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Goodwill and Core Deposit Intangibles | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND CORE DEPOSIT INTANGIBLES | NOTE 7 — GOODWILL AND CORE DEPOSIT INTANGIBLES Goodwill BancShares applied the acquisition method of accounting for the SVBB Acquisition and the CIT Merger. The fair value of the net assets acquired exceeded the purchase prices for both acquisitions. Consequently, there was a gain on acquisition (and no goodwill) as discussed further in Note 2—Business Combinations. BancShares had goodwill of $346 million at September 30, 2023 and December 31, 2022 that relates to business combinations completed prior to the SVBB Acquisition and the CIT Merger. All of the goodwill relates to the General Banking reporting segment. There was no goodwill impairment during the nine months ended September 30, 2023 or 2022. Core Deposit Intangibles Core deposit intangibles represent the estimated fair value of core deposits and other customer relationships acquired. Core deposit intangibles are being amortized over their estimated useful life. The following tables summarize the activity for core deposit intangibles during the nine months ended September 30, 2023. Core Deposit Intangibles
dollars in millions | 2023
Balance, net of accumulated amortization at January 1 | $ | 140 |
Core deposit intangibles related to the SVBB Acquisition | 230 |
Amortization for the period | (41) |
Balance at September 30, net of accumulated amortization | $ | 329 |
Core Deposit Intangible Accumulated Amortization
dollars in millions | September 30, 2023 |  | December 31, 2022
Gross balance | $ | 501 |  |  | $ | 271 |
Accumulated amortization | (172) |  |  | (131) |
Balance, net of accumulated amortization | $ | 329 |  |  | $ | 140 |
The following table summarizes the expected amortization expense as of September 30, 2023 in subsequent periods for core deposit intangibles. Core Deposit Intangible Expected Amortization
dollars in millions |
Remainder 2023 | $ | 17 |
2024 | 63 |
2025 | 54 |
2026 | 46 |
2027 | 39 |
2028 | 34 |
Thereafter | 76 |
Balance, net of accumulated amortization | $ | 329 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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