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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill represents the excess of the total acquisition price paid over the fair value of the assets acquired, net of fair value of liabilities assumed in connection with mergers and acquisitions. In the third quarter of 2025, the Company recorded $452 million of goodwill associated with the acquisition of Pacific Premier. Additional information on the acquisition and purchase price allocations is provided in Note 2 – Business Combinations. The following table presents the changes in the carrying amount of goodwill:
(in millions) |  |  |  |  | Goodwill
Balance, December 31, 2024 |  |  |  |  | $ | 1,029 |
Acquisitions and adjustments |  |  |  |  | 452 |
Balance, September 30, 2025 |  |  |  |  | $ | 1,481 |
Core deposit intangible assets values were determined based on the present value of the expected cost savings attributable to the core deposit funding relative to an alternative source of funding. In the third quarter of 2025, the Company recorded $355 million of core deposit intangibles associated with the acquisition of Pacific Premier. The intangible assets are being amortized on an accelerated basis over a period of 10 years. No impairment losses have been recognized in the periods presented. The following table summarizes other intangible assets as of the dates presented:
(in millions) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
September 30, 2025 | $ | 1,065 |  |  | $ | (311) |  |  | $ | 754 |
December 31, 2024 | $ | 710 |  |  | $ | (226) |  |  | $ | 484 |
Amortization expense recognized on intangible assets was $31 million and $85 million for the three and nine months ended September 30, 2025, respectively, and $29 million and $90 million for the three and nine months ended September 30, 2024, respectively. The table below presents the forecasted amortization expense for intangible assets as of September 30, 2025:
(in millions) |
Year | Expected Amortization
Remainder of 2025 | $ | 42 |
2026 | 155 |
2027 | 136 |
2028 | 116 |
2029 | 97 |
Thereafter | 208 |
Total intangible assets | $ | 754 |

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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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