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GOODWILL AND CORE DEPOSIT INTANGIBLES | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND CORE DEPOSIT INTANGIBLES | NOTE 8 — GOODWILL AND CORE DEPOSIT INTANGIBLES Goodwill BancShares had goodwill of $346 million at December 31, 2024 and 2023. There was no goodwill impairment during the years ended December 31, 2024, 2023, or 2022. Goodwill relates to the General Bank reporting unit. Refer to Note 1—Significant Accounting Policies and Basis of Presentation for accounting policies and impairment testing related to goodwill and intangible assets. 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: Core Deposit Intangibles
| Year Ended December 31,
dollars in millions | 2024 |  | 2023 |  |
Balance at beginning of period, net of accumulated amortization | $ | 312 |  |  | $ | 140 |  |  |
Core deposit intangibles related to the SVBB Acquisition | — |  |  | 230 |  |  |
Less: amortization for the period | 63 |  |  | 58 |  |  |
Balance at end of period, net of accumulated amortization | $ | 249 |  |  | $ | 312 |  |  |
The following table summarizes the accumulated amortization balance for core deposit intangibles: Core Deposit Intangible Accumulated Amortization
dollars in millions | December 31, 2024 |  | December 31, 2023
Gross balance | $ | 501 |  |  | $ | 501 |
Less: accumulated amortization | 252 |  |  | 189 |
Balance, net of accumulated amortization | $ | 249 |  |  | $ | 312 |
The following table summarizes the expected amortization expense as of December 31, 2024 in subsequent periods for core deposit intangibles: Core Deposit Intangible Expected Amortization
dollars in millions |
2025 | $ | 54 |
2026 | 46 |
2027 | 39 |
2028 | 34 |
2029 | 30 |
Thereafter | 46 |
Balance, net of accumulated amortization | $ | 249 |
Intangible Liability An intangible liability was recorded in other liabilities for net below market lessor lease contract rental rates related to the rail portfolio. This lease intangible is being amortized on a straight-line basis over the lease term, thereby increasing rental income (a component of noninterest income) over the remaining term of the lease agreements. The following tables summarize the activity for the intangible liability: Intangible Liability
| Year Ended December 31,
dollars in millions | 2024 |  | 2023 |  |
Balance at January 1 | $ | 24 |  |  | $ | 36 |  |  |
Amortization | (6) |  |  | (12) |  |  |
Balance at December 31, net of accumulated amortization | $ | 18 |  |  | $ | 24 |  |  |
The following tables summarize the accumulated amortization balance for the intangible liability: Intangible Liability Accumulated Amortization
dollars in millions | December 31, 2024 |  | December 31, 2023
Gross balance | $ | 52 |  |  | $ | 52 |
Accumulated amortization | (34) |  |  | (28) |
Balance, net of accumulated amortization | $ | 18 |  |  | $ | 24 |
The following table summarizes the expected amortization as of December 31, 2024 in subsequent annual periods for the intangible liability: Intangible Liability Amortization
dollars in millions |
2025 | $ | 4 |
2026 | 3 |
2027 | 3 |
2028 | 2 |
2029 | 2 |
Thereafter | 4 |
| $ | 18 |

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