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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Note 4 - Goodwill and Other Intangible Assets Goodwill allocated to each reporting unit at September 30, 2021 and December 31, 2020 is presented as follows:
(in thousands) | September 30, 2021 |  | December 31, 2020 |
Community Banking Reporting Unit | $ | 256,323 |  |  | $ | 256,323 |  |
Wholesale Banking Reporting Unit | 171,636 |  |  | 171,636 |  |
Consumer Mortgage Reporting Unit | — |  |  | — |  |
Wealth Management Reporting Unit | 24,431 |  |  | 24,431 |  |
Total Goodwill | $ | 452,390 |  |  | $ | 452,390 |  |
The following table presents changes in the carrying amount of goodwill for the three and nine months ended September 30, 2021 and 2020.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Balance at beginning of period | $ | 452,390 |  |  | $ | 497,267 |  |  | $ | 452,390 |  |  | $ | 497,267 |
Changes during the period from: |  |  |  |  |  |  |
Goodwill impairment | — |  |  | (44,877) |  |  | — |  |  | (44,877) |
Balance at end of period | $ | 452,390 |  |  | $ | 452,390 |  |  | $ | 452,390 |  |  | $ | 452,390 |
Goodwill is evaluated for impairment on an annual basis or whenever an event occurs or circumstances change to indicate that it is more likely than not that an impairment loss has been incurred (i.e., a triggering event). Synovus performs its annual evaluation of goodwill impairment during the fourth quarter of each year. During the three months ended September 30, 2020, Synovus recorded a $44.9 million non-cash goodwill impairment charge representing all of the goodwill allocated to the Consumer Mortgage reporting unit resulting from a combination of factors, including the extended duration of lower market valuations, high volumes in refinance activity that have reduced mortgage yields, and the clarity around longer term policy actions designed to keep interest rates low. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 7 - Goodwill and Other Intangible Assets" to the consolidated financial statements of Synovus' 2020 Form 10-K for information on Synovus' quantitative assessments of goodwill impairment during 2020. The following table shows the gross carrying amount and accumulated amortization of other intangible assets as of September 30, 2021 and December 31, 2020, which primarily consist of core deposit intangible assets. The CDI is being amortized over its estimated useful life of approximately ten years utilizing an accelerated method. Aggregate other intangible assets amortization expense for the three and nine months ended September 30, 2021 was $2.4 million and $7.1 million, respectively. Aggregate other intangible assets amortization expense for the three and nine months ended September 30, 2020 was $2.6 million and $7.9 million, respectively.
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value
September 30, 2021 |  |  |  |  |
CDI | $ | 57,400 |  |  | $ | (26,091) |  |  | $ | 31,309 |
Other | 12,500 |  |  | (5,834) |  |  | 6,666 |
Total other intangible assets | $ | 69,900 |  |  | $ | (31,925) |  |  | $ | 37,975 |
December 31, 2020 |  |  |  |  |
CDI | $ | 57,400 |  |  | $ | (19,829) |  |  | $ | 37,571 |
Other | 12,500 |  |  | (4,959) |  |  | 7,541 |
Total other intangible assets | $ | 69,900 |  |  | $ | (24,788) |  |  | $ | 45,112 |

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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 http://asc.fasb.org/topic&trid=2144416 + Details
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