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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS The change in the carrying value of goodwill for the years ended December 31, 2024 and 2023 is summarized below for both the total Company and by the Company's reporting units.
| December 31,
(dollars in thousands) | 2024 |  | 2023
Consolidated |  |  |
Carrying amount of goodwill at beginning of year | $ | 1,015,646 |  |  | $ | 1,015,646 |
Carrying amount of goodwill at end of year | $ | 1,015,646 |  |  | $ | 1,015,646 |
Banking |  |  |
Carrying amount of goodwill at beginning of year | $ | 951,148 |  |  | $ | 951,148 |
Carrying amount of goodwill at end of year | $ | 951,148 |  |  | $ | 951,148 |
Premium Finance Division |  |  |
Carrying amount of goodwill at beginning of year | $ | 64,498 |  |  | $ | 64,498 |
Carrying amount of goodwill at end of year | $ | 64,498 |  |  | $ | 64,498 |
The Company performs its annual impairment test at December 31 of each year and more frequently if a triggering event occurs. Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. At December 31, 2024, the Company performed its annual qualitative assessment and determined that it was more likely than not that the reporting units fair values exceeded their carrying values. The carrying value of intangible assets as of December 31, 2024 and 2023 was $70.8 million and $87.9 million, respectively. Intangible assets are comprised of core deposit intangibles, referral relationships intangibles, patent intangibles, trade name intangibles and non-compete agreement intangibles. The following is a summary of information related to acquired intangible assets:
| As of December 31, 2024 |  | As of December 31, 2023
(dollars in thousands) | Gross Amount |  | Accumulated Amortization |  | Gross Amount |  | Accumulated Amortization
Amortized intangible assets: |  |  |  |  |  |  |
Core deposit premiums | $ | 86,454 |  |  | $ | 66,093 |  |  | $ | 86,454 |  |  | $ | 59,045 |
Referral relationships | 88,651 |  |  | 39,214 |  |  | 88,651 |  |  | 29,790 |
Trade names | 2,734 |  |  | 2,065 |  |  | 2,734 |  |  | 1,581 |
Patent | 420 |  |  | 126 |  |  | 420 |  |  | 84 |
Non-compete agreements | 570 |  |  | 570 |  |  | 570 |  |  | 380 |
| $ | 178,829 |  |  | $ | 108,068 |  |  | $ | 178,829 |  |  | $ | 90,880 |
The aggregate amortization expense for intangible assets was approximately $17.2 million, $18.2 million and $19.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. The estimated amortization expense for each of the next five years and thereafter is as follows (in thousands):
2025 | $ | 15,937 |
2026 | 12,394 |
2027 | 11,127 |
2028 | 10,005 |
2029 | 7,954 |
Thereafter | 13,344 |
| $ | 70,761 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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