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Goodwill And Other Intangible Assets | 3 Months Ended
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Mar. 31, 2026
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.
| March 31, 2026 |  | December 31, 2025
(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 | $ | 72,581 |  | $ | (8,031) |  | $ | — |  | $ | 64,550 |  |  | $ | 5,550 |  | $ | (5,427) |  | $ | — |  | $ | 123 |
Trade name | 5,550 |  | (277) |  | — |  | 5,273 |  |  | — |  | — |  | — |  | — |
Customer relationships | 65,500 |  | (2,519) |  | — |  | 62,981 |  |  | — |  | — |  | — |  | — |
Mortgage servicing rights | 13,929 |  | (4,348) |  | — |  | 9,581 |  |  | 13,805 |  | (4,217) |  | — |  | 9,588 |
Total | $ | 157,560 |  | $ | (15,175) |  | $ | — |  | $ | 142,385 |  |  | $ | 19,355 |  | $ | (9,644) |  | $ | — |  | $ | 9,711 |
Aggregate amortization expense on intangible assets was $5.7 million and $338 thousand for the three month periods ended March 31, 2026 and 2025, 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 March 31, 2026. 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) |
2026 | $ | 22,722 |
2027 | 20,875 |
2028 | 19,037 |
2029 | 17,243 |
2030 | 15,456 |
Changes in the carrying amount of goodwill and other intangible assets for the three month period ended March 31, 2026 are as follows:
(In thousands) | Goodwill | Easement | Core Deposit Premium | Trade Name | Customer Relationships | Mortgage Servicing Rights
Balance January 1, 2026 | $ | 146,539 |  | $ | 3,600 |  | $ | 123 |  | $ | — |  | $ | — |  | $ | 9,588 |
Acquisition | 107,266 |  | — |  | 67,032 |  | 5,550 |  | 65,500 |  | — |
Originations, net of disposals | — |  | — |  | — |  | — |  | — |  | 284 |
Amortization | — |  | — |  | (2,605) |  | (277) |  | (2,519) |  | (291) |
Balance March 31, 2026 | $ | 253,805 |  | $ | 3,600 |  | $ | 64,550 |  | $ | 5,273 |  | $ | 62,981 |  | $ | 9,581 |
The Company added $107.3 million of goodwill related to the FineMark acquisition in the first quarter of 2026. The goodwill was calculated based on the preliminary fair values of the assets acquired and liabilities assumed as of the acquisition date and is subject to change as additional information becomes available during the measurement period. Goodwill related to the FineMark acquisition was allocated entirely to the Company's Wealth segment. Goodwill allocated to the Company’s operating segments at March 31, 2026 and December 31, 2025 is shown below.
(In thousands) | March 31, 2026 | December 31, 2025
Retail banking segment | $ | 70,721 |  | $ | 70,721 |
Commercial segment | 75,072 |  | 75,072 |
Wealth segment | 108,012 |  | 746 |
Total goodwill | $ | 253,805 |  | $ | 146,539 |

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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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