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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | 5. GOODWILL AND INTANGIBLE ASSETS The Company’s intangible assets consist of core deposits, goodwill, and other intangibles arising from acquisitions. Refer to Note 1 “Summary of Significant Accounting Polices” in this Form 10-K for more information on the Company’s goodwill and intangible asset policies. ​ The Company analyzed its intangible assets on a quarterly basis throughout 2023, and concluded no impairment existed as of the balance sheet date. Information concerning intangible assets with a finite life is presented in the following table as of December 31, (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Gross |  | ​ | ​ |  | Net
​ | ​ | Carrying | ​ | Accumulated | ​ | Carrying
​ | ​ | Value | ​ | Amortization | ​ | Value
2023 |  | ​ |  |  | ​ |  |  | ​ |
Core deposit intangibles | ​ | $ | 85,491 | ​ | $ | 68,599 | ​ | $ | 16,892
Other amortizable intangibles | ​ |  | 3,977 | ​ |  | 1,686 | ​ |  | 2,291
2022 | ​ |  |  | ​ |  |  | ​ |  |
Core deposit intangibles | ​ | $ | 85,491 | ​ | $ | 60,363 | ​ | $ | 25,128
Other amortizable intangibles | ​ |  | 2,774 | ​ |  | 1,141 | ​ |  | 1,633
​ Effective June 30, 2022, the Company and the Bank, completed the sale of DHFB, which was formerly a subsidiary of the Bank, to Cary Street Partners Financial LLC, resulting in a reduction in both the Company’s goodwill of $10.3 million and intangible assets of $5.7 million. The Company moved from one reportable operating segment, the Bank, to two reportable operating segments, Wholesale Banking and Consumer Banking, in the third quarter of 2022, which resulted in goodwill being allocated between the two reportable operating segments based on their relative fair values. The Company determined that there was no impairment to the Bank’s goodwill prior to and after reallocating goodwill. The following table presents the Company’s goodwill and intangible assets by operating segment as of December 31, (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale Banking | ​ | Consumer Banking | ​ | Corporate Other | ​ | Total
2023 |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |
Goodwill | ​ | $ | 639,180 | ​ | $ | 286,031 | ​ | $ | — | ​ | $ | 925,211
Intangible Assets | ​ |  | 1,302 | ​ |  | 989 | ​ |  | 16,892 | ​ |  | 19,183
2022 | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Goodwill | ​ | $ | 639,180 | ​ | $ | 286,031 | ​ | $ | — | ​ | $ | 925,211
Intangible Assets | ​ |  | 1,558 | ​ |  | 75 | ​ |  | 25,128 | ​ |  | 26,761
​ Effective January 1, 2023, the Company made an organizational change to move certain lines of business in the wealth management division that primarily serve Wholesale Banking customers from the Consumer Banking segment to the Wholesale Banking segment. As a result, the Company re-allocated $9.6 million and $1.6 million of goodwill and intangible assets, respectively, from the Consumer Banking segment to the Wholesale Banking segment. The Company determined that there was no impairment to the Bank’s goodwill prior to or after re-allocating goodwill. The Company restated its goodwill and intangible assets segment information for the year ended December 31, 2022 based on this organizational change. ​ Amortization expense of intangibles for the years ended December 31, 2023, 2022, and 2021 totaled $8.8 million, $10.8 million, and $13.9 million, respectively. ​ As of December 31, 2023, the estimated remaining amortization expense of intangibles is as follows for the years ended (dollars in thousands): ​
​ | ​ | ​ | ​
2024 |  | $ | 6,936
2025 | ​ | ​ | 5,289
2026 | ​ | ​ | 3,654
2027 | ​ | ​ | 2,068
2028 | ​ | ​ | 843
Thereafter | ​ | ​ | 393
Total estimated amortization expense | ​ | $ | 19,183
​

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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