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Goodwill and Core Deposit Intangible
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Core Deposit Intangible Goodwill and Core Deposit Intangible
Changes in the carrying amount and accumulated amortization of the Company’s goodwill and core deposit intangible at December 31, 2023 and 2022, were as follows:
December 31, 2023December 31, 2022
Goodwill(In thousands)
Balance, beginning of period$1,398,253 $973,025 
Acquisitions— 425,228 
Balance, end of period$1,398,253 $1,398,253 
December 31, 2023December 31, 2022
Core Deposit Intangible(In thousands)
Balance, beginning of period$58,455 $25,045 
Acquisitions— 42,263 
Amortization expense(9,685)(8,853)
Balance, end of year$48,770 $58,455 
The carrying basis and accumulated amortization of core deposits intangibles at December 31, 2023 and 2022 were:
December 31, 2023December 31, 2022
(In thousands)
Gross carrying amount$128,888 $128,888 
Accumulated amortization(80,118)(70,433)
Net carrying amount$48,770 $58,455 
Core deposit intangible amortization expense for the years ended December 31, 2023, 2022 and 2021 was approximately $9.7 million, $8.9 million and $5.7 million, respectively. The core deposit intangible is tested annually for impairment during the fourth quarter. During the 2023 review, no impairment was found. Including all of the mergers completed as of December 31, 2023, HBI’s estimated amortization expense of the core deposit intangible for each of the years 2024 through 2028 is approximately: 2024 – $8.4 million; 2025 – $8.0 million; 2026 – $7.8 million; 2027 – $6.6 million and 2028 – $4.2 million.
The carrying amount of the Company’s goodwill was $1.40 billion at both December 31, 2023 and 2022. Goodwill is tested annually for impairment during the fourth quarter or more frequently if changes or circumstances occur. During the 2023 and 2022 reviews, no impairment was found. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated, and goodwill is written down to its implied fair value. Subsequent increases in goodwill value are not recognized in the consolidated financial statements.