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Goodwill And Other Intangible Assets | 9 Months Ended
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Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill And Other Intangible Assets | Goodwill and Other Intangible Assets The following table presents information about the Company's intangible assets which have estimable useful lives.
| September 30, 2022 |  | December 31, 2021
(In thousands) | Gross Carrying Amount | Accumulated Amortization | Valuation Allowance | Net Amount |  | Gross Carrying Amount | Accumulated Amortization | Valuation Allowance | Net Amount
Amortizable intangible assets: |  |  |  |  |  |  |  |  |
Core deposit premium | $ | 31,270 |  | $ | (30,499) |  | $ | — |  | $ | 771 |  |  | $ | 31,270 |  | $ | (30,266) |  | $ | — |  | $ | 1,004 |
Mortgage servicing rights | 22,161 |  | (10,933) |  | — |  | 11,228 |  |  | 20,870 |  | (9,600) |  | (304) |  | 10,966 |
Total | $ | 53,431 |  | $ | (41,432) |  | $ | — |  | $ | 11,999 |  |  | $ | 52,140 |  | $ | (39,866) |  | $ | (304) |  | $ | 11,970 |
Aggregate amortization expense on intangible assets was $456 thousand and $682 thousand for the three month periods ended September 30, 2022 and 2021, respectively, and $1.6 million and $2.4 million for the nine month periods ended September 30, 2022 and 2021, respectively. The following table shows the estimated annual amortization expense for the next five fiscal years. This expense is based on existing asset balances and the interest rate environment as of September 30, 2022. The Company’s actual amortization expense in any given period may be different from the estimated amounts depending upon the acquisition of intangible assets, changes in mortgage interest rates, prepayment rates and other market conditions.
(In thousands) |
2022 | $ | 1,945 |
2023 | 1,389 |
2024 | 1,242 |
2025 | 1,098 |
2026 | 960 |
Changes in the carrying amount of goodwill and other intangible assets for the nine month period ended September 30, 2022 are as follows:
(In thousands) | Goodwill | Easement | Core Deposit Premium | Mortgage Servicing Rights
Balance January 1, 2022 | $ | 138,921 |  | $ | 3,600 |  | $ | 1,004 |  | $ | 10,966 |
Originations, net of disposals | — |  | — |  | — |  | 1,291 |
Amortization | — |  | — |  | (233) |  | (1,333) |
Impairment recovery | — |  | — |  | — |  | 304 |
Balance September 30, 2022 | $ | 138,921 |  | $ | 3,600 |  | $ | 771 |  | $ | 11,228 |
Goodwill allocated to the Company’s operating segments at September 30, 2022 and December 31, 2021 is shown below.
(In thousands) |  |
Consumer segment |  | $ | 70,721 |
Commercial segment |  | 67,454 |
Wealth segment |  | 746 |
Total goodwill |  | $ | 138,921 |

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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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