XML 33 R15.htm IDEA: XBRL DOCUMENT v3.25.0.1
Goodwill and Core Deposit Intangible
 12 Months Ended
Dec. 31, 2024
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, 2024 and 2023, were as follows:
December 31, 2024December 31, 2023
Goodwill(In thousands)
Balance, beginning of period$1,398,253 $1,398,253 
Balance, end of period$1,398,253 $1,398,253 
December 31, 2024December 31, 2023
Core Deposit Intangible(In thousands)
Balance, beginning of period$48,770 $58,455 
Amortization expense(8,443)(9,685)
Balance, end of year$40,327 $48,770 
The carrying basis and accumulated amortization of core deposits intangibles at December 31, 2024 and 2023 were:
December 31, 2024December 31, 2023
(In thousands)
Gross carrying amount$128,888 $128,888 
Accumulated amortization(88,561)(80,118)
Net carrying amount$40,327 $48,770 
Core deposit intangible amortization expense for the years ended December 31, 2024, 2023 and 2022 was approximately $8.4 million, $9.7 million and $8.9 million, respectively. The core deposit intangible is tested annually for impairment during the fourth quarter. During the 2024 review, no impairment was found. Including all of the mergers completed as of December 31, 2024, HBI’s estimated amortization expense of the core deposit intangible for each of the years 2025 through 2029 is approximately: 2025 – $8.0 million; 2026 – $7.8 million; 2027 – $6.6 million; 2028 – $4.2 million and 2029 – $4.2 million.
The carrying amount of the Company’s goodwill was $1.40 billion at both December 31, 2024 and 2023. Goodwill is tested annually for impairment during the fourth quarter or more frequently if changes or circumstances occur. During the 2024 and 2023 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.