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Goodwill and Other Intangible Assets | 3 Months Ended
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Mar. 31, 2023
Goodwill and Other Intangible Assets |
Goodwill and Other Intangible Assets | ​ ​ Note 19 — Goodwill and Other Intangible Assets ​ The carrying amount of goodwill was $1.9 billion at March 31, 2023 and December 31, 2022. 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 Company last completed its annual valuation of the carrying value of its goodwill as of October 31, 2022. We determined that no impairment charge was necessary for each period end. We will continue to monitor the impact of the market conditions on the Company’s business, operating results, cash flows and/or financial condition. ​ The following is a summary of gross carrying amounts and accumulated amortization of other intangible assets: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31, | ​
(Dollars in thousands) |  | 2023 |  | 2022 |
Gross carrying amount | ​ | $ | 275,321 | ​ | $ | 274,869 | ​
Accumulated amortization | ​ |  | (165,718) | ​ |  | (158,419) | ​
​ | ​ | $ | 109,603 | ​ | $ | 116,450 | ​
​ Amortization expense totaled $7.3 million for the quarter ended March 31, 2023, compared to $8.5 million for the quarter ended March 31, 2022. Other intangibles are amortized using either the straight-line method or an accelerated basis over their estimated useful lives, with lives generally between two and 15 years. In early 2022 and in connection with the SBA servicing asset acquired through the Atlantic Capital acquisition, which was recorded at fair value on acquisition date, the Company elected to prospectively apply fair value accounting to the Company’s SBA servicing asset. The change in fair value of the SBA servicing asset is recorded in SBA Income, a component of Noninterest Income on the Consolidated Statements of Income, during each applicable reporting period. As a result of the change in accounting treatment, the Company will no longer amortize the SBA servicing asset and therefore excluded the SBA servicing asset from the future amortization expense table presented below. The fair value of the SBA servicing asset was $6.5 million and $6.1 million, respectively, at March 31, 2023 and December 31, 2022. Estimated amortization expense for other intangibles for each of the next five quarters is as follows: ​
​ | ​ | ​ | ​ | ​
(Dollars in thousands) | ​ | ​ | ​ | ​
Quarter ending: |  | ​ |  |
June 30, 2023 | ​ | $ | 7,028 | ​
September 30, 2023 | ​ |  | 6,616 | ​
December 31, 2023 | ​ |  | 6,615 | ​
March 31, 2024 | ​ |  | 6,003 | ​
June 30, 2024 | ​ | ​ | 5,739 | ​
Thereafter | ​ |  | 71,082 | ​
​ | ​ | $ | 103,083 | ​
​

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- 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 https://asc.fasb.org/topic&trid=2144416 + Details
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