Goodwill and Core Deposit Intangibles

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

3. GOODWILL AND CORE DEPOSIT INTANGIBLES

Changes in the carrying amount of the Company’s goodwill and core deposit intangibles for fiscal years 2024 and 2023 were as follows:


	Goodwill		Core Deposit Intangibles
	(Dollars in thousands)
Balance as of December 31, 2022	$	3,231,636	$	51,348
Less:
Amortization		—		(12,676	)
Add:
First Bancshares merger		164,450		25,322
Balance as of December 31, 2023		3,396,086		63,994
Less:
Amortization		—		(15,670	)
Add:
Measurement period adjustment of First Bancshares merger		316		—
Lone Star merger		106,727		17,723
Balance as of December 31, 2024	$	3,503,129	$	66,047

Management performs an evaluation annually, and more frequently if a triggering event occurs, of whether any impairment of the goodwill or core deposit intangibles has occurred. If any such impairment is determined, a write down is recorded. Based on the Company’s annual goodwill impairment test, management does not believe any of its goodwill is impaired as of December 31, 2024.

Core deposit intangibles are being amortized on a non-pro rata basis over their estimated lives, which the Company believes is between 10 and 15 years. The estimated aggregate future amortization expense for core deposit intangibles remaining as of December 31, 2024 is as follows (dollars in thousands):


2025	$	14,441
2026		12,763
2027		11,262
2028		9,958
Thereafter		17,623
Total	$	66,047