Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

(In Thousands)

The carrying amounts of goodwill by operating segments for the nine months ended September 30, 2023 are set forth in the table below. The deduction from goodwill resulted from measurement period adjustments following the RBC acquisition and is primarily related to adjustments on the fair value of other liabilities.


	Community Banks		Insurance		Total
Balance at January 1, 2023	$	988,941	$	2,767	$	991,708
Deductions to goodwill and other adjustments	(43)		—		(43)
Balance at September 30, 2023	$	988,898	$	2,767	$	991,665

The following table provides a summary of finite-lived intangible assets as of the dates presented:


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
September 30, 2023
Core deposit intangibles	$	82,492	$	(67,443)	$	15,049
Customer relationship intangible	7,670		(2,649)		5,021
Total finite-lived intangible assets	$	90,162	$	(70,092)	$	20,070
December 31, 2022
Core deposit intangibles	$	82,492	$	(64,339)	$	18,153
Customer relationship intangible	7,670		(1,647)		6,023
Total finite-lived intangible assets	$	90,162	$	(65,986)	$	24,176

Current year amortization expense for finite-lived intangible assets is presented in the table below.


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Amortization expense for:
Core deposit intangibles	$	977	$	1,206	$	3,103	$	3,791
Customer relationship intangible	334		45		1,003		136
Total intangible amortization	$	1,311	$	1,251	$	4,106	$	3,927

The estimated amortization expense of finite-lived intangible assets for the year ending December 31, 2023 and the succeeding four years is summarized as follows:


	Core Deposit Intangibles		Customer Relationship Intangible		Total

2023	$	4,043	$	1,337	$	5,380
2024	3,498		1,192		4,690
2025	3,102		1,048		4,150
2026	2,899		860		3,759
2027	2,774		628		3,402