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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Goodwill and Other Intangible Assets |
Goodwill and Other Intangible Assets | Note 18 — Goodwill and Other Intangible Assets ​ The carrying amount of goodwill was $1.9 billion at September 30, 2024, and December 31, 2023. 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, 2023, and determined there was no impairment of the Company’s goodwill. Management continues to monitor the impact of 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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31, | ​
(Dollars in thousands) |  | 2024 |  | 2023 |
Gross carrying amount | ​ | $ | 274,880 | ​ | $ | 274,753 | ​
Accumulated amortization | ​ |  | (203,045) | ​ |  | (185,977) | ​
​ | ​ | $ | 71,835 | ​ | $ | 88,776 | ​
​ Amortization expense totaled $5.3 million and $17.1 million, for the three and nine months ended September 30, 2024, respectively, compared to $6.6 million and $20.9 million for the three and nine months ended September 30, 2023, respectively. 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. ​ The Company applies 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 fair value accounting treatment, the Company does not amortize the SBA servicing asset and therefore excludes the SBA servicing asset from the future amortization expense table presented below. The fair value of the SBA servicing asset was $6.1 million and $6.0 million, respectively, at September 30, 2024, and December 31, 2023. The fair value of the SBA servicing asset is included in Core Deposit and Other Intangibles on the Consolidated Balance Sheets. ​ Estimated amortization expense for other intangibles for each of the next five quarters is as follows: ​
​ | ​ | ​ | ​ | ​
(Dollars in thousands) | ​ | ​ | ​ | ​
Quarter ending: |  | ​ |  |
December 31, 2024 | ​ | $ | 5,326 | ​
March 31, 2025 | ​ |  | 5,100 | ​
June 30, 2025 | ​ |  | 4,836 | ​
September 30, 2025 | ​ |  | 4,419 | ​
December 31, 2025 | ​ | ​ | 4,411 | ​
Thereafter | ​ |  | 41,664 | ​
​ | ​ | $ | 65,756 | ​
​

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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