Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets [Text Block]

Goodwill and Intangible Assets

The following table presents the original cost and accumulated amortization of intangible assets (in thousands):


	Dec. 31,
	2020		2019
Core deposit premiums	$	103,200	$	103,200
Less accumulated amortization	32,256		19,364
Net core deposit premiums	70,944		83,836

Other identifiable intangible assets	82,731		74,372
Less accumulated amortization	40,239		32,937
Net other identifiable intangible assets	42,492		41,435

Total intangible assets, net	$	113,436	$	125,271

Expected amortization expense for intangible assets that will continue to be amortized (in thousands):


	Core Deposit Premiums		Other Identifiable Intangible Assets		Total
2021	$	11,893	$	6,599	$	18,492
2022	10,981		5,232		16,213
2023	10,145		4,191		14,336
2024	9,379		3,178		12,557
2025	8,675		2,767		11,442
Thereafter	19,871		20,525		40,396
	$	70,944	$	42,492	$	113,436

The changes in the carrying value of goodwill by operating segment are as follows (in thousands):


	Commercial Banking		Consumer Banking		Wealth Management		Funds Management and Other		Total



Balance, December 31, 2018	$	313,270	$	43,458	$	90,702	$	601,833	$	1,049,263



Adjustment1	600,661		—		—		(601,833)		(1,172)




Balance, December 31, 2019	913,931		43,458		90,702		—		1,048,091









Balance, December 31, 2020	$	913,931	$	43,458	$	90,702	$	—	$	1,048,091

1 Goodwill related to the CoBiz acquisition was not yet allocated to the operating segments as of December 31, 2018 and was included in Funds Management and Other in 2018 then allocated during 2019.

At October 1, 2020, the Company performed a qualitative impairment assessment of goodwill based on factors including, but not limited to, general economic conditions, financial services industry considerations, regional economic conditions, global health concerns and related medical developments, general BOKF Financial performance and reporting unit performance. During 2020, the U.S. and global economies were negatively impacted by the spread of COVID-19. This resulted in the need for quarterly qualitative impairment analyses and quantitative corroboration of the annual qualitative impairment assessment. No impairment was indicated for any reporting unit.