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Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Other Intangible Assets

Note 8—Goodwill and Other Intangible Assets

The Company evaluated the carrying value of goodwill as of October 31, 2021, its annual test date, and concluded that no impairment charge was necessary. The Company will continue to monitor the impact of COVID-19 on the Company’ business, operating results, cash flows and/or financial condition. The following is a summary of changes in the carrying amounts of goodwill:


	Year Ended
	December 31,
(Dollars in thousands)	2021		2020
Balance at beginning of period	$	1,563,942	$	1,002,900
Additions:
Goodwill from CenterState acquisition		—		561,042
Goodwill from Duncan Williams acquisition		15,816		—
Goodwill subsequent fair value adjustment from CenterState acquisition		1,327		—
Balance at end of period	$	1,581,085	$	1,563,942

The Company’s other intangible assets, consisting of core deposit intangibles, noncompete intangibles, and client list intangibles are included on the face of the balance sheet. The following is a summary of gross carrying amounts and accumulated amortization of other intangible assets:


	December 31,
(Dollars in thousands)	2021		2020
Gross carrying amount	$	257,874	$	258,554
Accumulated amortization		(129,807)		(95,962)
	$	128,067	$	162,592

Amortization expense totaled $35.2 million and $27.0 million and $13.1 million for the years ended December 31, 2021, 2020, and 2019, respectively. Other intangibles are amortized using either the straight-line method or an accelerated basis over their estimated useful lives, with lives generally between 2 and 15 years.

Estimated amortization expense for other intangibles for each of the next five years is as follows:


(Dollars in thousands)
Year ended December 31:
2022	$	30,056
2023		24,634
2024		19,790
2025		16,480
2026		13,264
Thereafter		23,843
	$	128,067