XML 135 R18.htm IDEA: XBRL DOCUMENT
v3.19.3

Goodwill and Other Intangible Assets | 9 Months Ended
--- | ---
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill Total goodwill was $465.7 million and $465.5 million as of September 30, 2019 and December 31, 2018, respectively. Goodwill represents the excess of the purchase price over the fair value of net assets acquired in an acquisition. The Company assesses goodwill for impairment at the reporting unit level (at the same level as the Company’s business segment) on an annual basis as of December 31 of each year, or more frequently if events or circumstances, such as adverse changes in the economic or business environment, indicate there may be impairment. The Company organizes its operation into three reporting segments: (1) Consumer and Business Banking; (2) Commercial Banking; and (3) Other. For information on how the reporting units are identified and components are aggregated, see Note 18 — Business Segments to the Consolidated Financial Statements in this Form 10-Q. There were no changes in the carrying amount of goodwill during the three months ended September 30, 2019 and 2018. The following table presents changes in the carrying amount of goodwill by reporting unit during the nine months ended September 30, 2019 and 2018:
($ in thousands) |  | Consumer and Business Banking |  | Commercial Banking |  | Total
Balance, January 1, 2018 |  | $ | 357,207 |  |  | $ | 112,226 |  |  | $ | 469,433 |
Disposition of the DCB branches |  | (3,886 | ) |  | — |  |  | (3,886 | )
Balance, September 30, 2018 |  | $ | 353,321 |  |  | $ | 112,226 |  |  | $ | 465,547 |
Balance, January 1, 2019 |  | $ | 353,321 |  |  | $ | 112,226 |  |  | $ | 465,547 |
Acquisition of Enstream Capital Markets, LLC |  | — |  |  | 150 |  |  | 150 |
Balance, September 30, 2019 |  | $ | 353,321 |  |  | $ | 112,376 |  |  | $ | 465,697 |
Impairment Analysis The Company performed its annual impairment analysis as of December 31, 2018, and concluded that there was no goodwill impairment as the fair value of all reporting units exceeded the carrying amount of their respective reporting unit. There were no triggering events during the three and nine months ended September 30, 2019, and therefore, no additional goodwill impairment analysis was performed. No assurance can be given that goodwill will not be written down in future periods. Refer to Note 9 — Goodwill and Other Intangible Assets to the Consolidated Financial Statements of the Company’s 2018 Form 10-K for additional details related to the Company’s annual goodwill impairment analysis. Core Deposit Intangibles Core deposit intangibles represent the intangible value of depositor relationships resulting from deposit liabilities assumed in various acquisitions and are included in Other assets on the Consolidated Balance Sheet. These intangibles are tested for impairment on an annual basis, or more frequently as events occur or current circumstances and conditions warrant. There were no impairment write-downs on the core deposit intangibles for each of the three and nine months ended September 30, 2019 and 2018. Core deposit intangibles associated with the sale of the Bank’s DCB branches, which had a net carrying amount of $1.0 million were written off in the first quarter of 2018. The following table presents the gross carrying amount of core deposit intangible assets and accumulated amortization as of September 30, 2019 and December 31, 2018:
($ in thousands) |  | September 30, 2019 |  | December 31, 2018
Gross balance (1) |  | $ | 86,099 |  |  | $ | 86,099 |
Accumulated amortization (1) |  | (75,044 | ) |  | (71,570 | )
Net carrying balance (1) |  | $ | 11,055 |  |  | $ | 14,529 |
(1) | Excludes fully amortized core deposit intangible assets.
Amortization Expense The Company amortizes the core deposit intangibles based on the projected useful lives of the related deposits. The amortization expense related to the core deposit intangible assets was $1.2 million and $1.3 million for the three months ended September 30, 2019 and 2018, respectively, and $3.5 million and $4.2 million for the nine months ended September 30, 2019 and 2018, respectively. The following table presents the estimated future amortization expense of core deposit intangibles as of September 30, 2019:
($ in thousands) |  | Amount
Remainder of 2019 |  | $ | 1,044 |
2020 |  | 3,634 |
2021 |  | 2,749 |
2022 |  | 1,865 |
2023 |  | 1,199 |
Thereafter |  | 564 |
Total |  | $ | 11,055 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration