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Goodwill and Other Intangible Assets | 3 Months Ended
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Mar. 31, 2025
Goodwill and Other Intangible Assets |
Goodwill and Other Intangible Assets | Note 18 — Goodwill and Other Intangible Assets The carrying amount of goodwill was $3.1 billion and $1.9 billion, respectively, at March 31, 2025 and December 31, 2024. The Company added $1.2 billion in goodwill related to the Independent acquisition in the first quarter of 2025. The Company also added $412.1 million in core deposit intangibles related to the Independent acquisition and $558,000 related to the purchase of a wealth business client list during the first quarter of 2025. The goodwill was calculated based on the preliminary fair values of the assets acquired and liabilities assumed as of the acquisition date, and subject to change as additional information becomes available during the measurement period. 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, 2024 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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31, | ​
(Dollars in thousands) |  | 2025 |  | 2024 |
Gross carrying amount | ​ | $ | 687,645 | ​ | $ | 274,829 | ​
Accumulated amortization | ​ |  | (232,202) | ​ |  | (208,371) | ​
​ | ​ | $ | 455,443 | ​ | $ | 66,458 | ​
​ Amortization expense totaled $23.8 million for the quarter ended March 31, 2025, compared to $6.0 million for the quarter ended March 31, 2024. Other intangibles, except for SBA servicing assets which are carried at fair value, 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. Estimated amortization expense for other intangibles for each of the next five quarters is as follows: ​
​ | ​ | ​ | ​ | ​
(Dollars in thousands) | ​ | ​ | ​ | ​
Quarter ending: |  | ​ |  |
June 30, 2025 | ​ | $ | 23,637 | ​
September 30, 2025 | ​ |  | 23,220 | ​
December 31, 2025 | ​ |  | 23,211 | ​
March 31, 2026 | ​ |  | 21,139 | ​
June 30, 2026 | ​ | ​ | 20,876 | ​
Thereafter | ​ |  | 337,152 | ​
​ | ​ | $ | 449,235 | ​
​

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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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