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GOODWILL AND OTHER INTANGIBLES (Tables)
12 Months Ended
Dec. 31, 2017
Gross Amount and Accumulated Amortization of Other Intangible Assets [Table Text Block]
The following table shows the gross amount and accumulated amortization of the Corporation’s intangible assets recognized as part of Other Assets in the consolidated statements of financial condition:
As of
December 31,
2017 2016
(Dollars in thousands)
Core deposit intangible:
Gross amount, beginning of period$51,664$51,664
Accumulated amortization (1)(46,186)(44,466)
Net carrying amount$5,478$7,198
Remaining amortization period7.0 years8.1 years
Purchased credit card relationship intangible:
Gross amount$24,465$24,465
Accumulated amortization (2)(16,465)(13,934)
Net carrying amount$8,000$10,531
Remaining amortization period3.9 years5 years
Insurance customer relationship intangible:
Gross amount$1,067$1,067
Accumulated amortization (3)(292)(140)
Net carrying amount$775$927
Remaining amortization period5.0 years6.1 years
(1) For the years ended December 31, 2017 and 2016, the amortization expense of core deposit intangibles amounted to $1.7 million and $2.0 million, respectively.
(2) For the years ended December 31, 2017 and 2016, the amortization expense of the purchased credit card relationship intangible amounted to $2.5 million and $2.8 million, respectively.
(3) For the years ended December 31, 2017 and 2016, the amortization expense of the insurance customer relationship intangible amounted to $0.2 million and $0.1 million, respectively.
Schedule of Expected Amortization Expense [Table Text Block]
The estimated aggregate annual amortization expense related to the intangible assets for future periods is as follows:
Amount
(In thousands)
2018$3,591
20193,088
20202,851
20212,658
2022915
2023 and after1,150