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GOODWILL AND CORE DEPOSIT INTANGIBLES | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND CORE DEPOSIT INTANGIBLES | NOTE 7 — GOODWILL AND CORE DEPOSIT INTANGIBLES Goodwill BancShares had goodwill of $346 million at June 30, 2024 and December 31, 2023. There was no goodwill impairment during the six months ended June 30, 2024 or 2023. 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 lives. The following tables summarize the activity for core deposit intangibles during the six months ended June 30, 2024: Core Deposit Intangibles
dollars in millions | Six Months Ended June 30, 2024 |  |  |  |
Balance at beginning of period, net of accumulated amortization | $ | 312 |  |  |  |  |
Less: amortization for the period | 32 |  |  |  |  |
Balance at end of period, net of accumulated amortization | $ | 280 |  |  |  |  |
The following table summarizes the accumulated amortization balance for core deposit intangibles at June 30, 2024 and December 31, 2023: Core Deposit Intangible Accumulated Amortization
dollars in millions | June 30, 2024 |  | December 31, 2023
Gross balance | $ | 501 |  |  | $ | 501 |
Less: accumulated amortization | 221 |  |  | 189 |
Balance, net of accumulated amortization | $ | 280 |  |  | $ | 312 |
The following table summarizes the expected amortization expense as of June 30, 2024 in subsequent periods for core deposit intangibles: Core Deposit Intangible Expected Amortization
dollars in millions |
Remainder 2024 | $ | 31 |
2025 | 54 |
2026 | 46 |
2027 | 39 |
2028 | 34 |
2029 | 30 |
Thereafter | 46 |
Balance, net of accumulated amortization | $ | 280 |

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