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Goodwill and Other Intangibles (Tables)
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill for the periods ended September 30, 2025 and December 31, 2024 by reportable segment are as follows (in thousands):

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Balances as of January 1, 2025

 

$

63,113

 

 

$

76,492

 

 

$

67,780

 

 

$

207,385

 

Acquisition of HTLF

 

 

976,748

 

 

 

—

 

 

 

651,165

 

 

 

1,627,913

 

Balances as of September 30, 2025

 

$

1,039,861

 

 

$

76,492

 

 

$

718,945

 

 

$

1,835,298

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances as of January 1, 2024

 

$

63,113

 

 

$

76,492

 

 

$

67,780

 

 

$

207,385

 

Balances as of December 31, 2024

 

$

63,113

 

 

$

76,492

 

 

$

67,780

 

 

$

207,385

 
Changes in Intangible Assets

The following table lists the finite-lived intangible assets that continue to be subject to amortization as of September 30, 2025 and December 31, 2024 (in thousands):

 

 

 

As of September 30, 2025

 

 

 

Core Deposit Intangible Assets

 

 

Customer Relationships

 

 

Total

 

Gross carrying amount

 

$

481,294

 

 

$

123,212

 

 

$

604,506

 

Accumulated amortization

 

 

59,391

 

 

 

33,665

 

 

 

93,056

 

Net carrying amount

 

$

421,903

 

 

$

89,547

 

 

$

511,450

 

 

 

As of December 31, 2024

 

 

 

Core Deposit Intangible Assets

 

 

Customer Relationships

 

 

Total

 

Gross carrying amount

 

$

2,345

 

 

$

86,800

 

 

$

89,145

 

Accumulated amortization

 

 

1,600

 

 

 

23,898

 

 

 

25,498

 

Net carrying amount

 

$

745

 

 

$

62,902

 

 

$

63,647

 
Aggregate Amortization Expense Recognized

The following table has the aggregate amortization expense recognized in each period (in thousands):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Aggregate amortization expense

 

$

25,317

 

 

$

1,917

 

 

$

68,067

 

 

$

5,788

 
Estimated Amortization Expense of Intangible Assets

The following table discloses the estimated amortization expense of intangible assets in future periods (in thousands):

For the three months ending December 31, 2025

 

$

25,433

 

For the year ending December 31, 2026

 

 

92,995

 

For the year ending December 31, 2027

 

 

82,404

 

For the year ending December 31, 2028

 

 

70,336

 

For the year ending December 31, 2029

 

 

61,390