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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
NOTE 7 - GOODWILL AND INTANGIBLE ASSETS
Goodwill totaled $553.3 million as of December 31, 2024 and 2023, respectively. There were no goodwill impairment charges in 2024 based on the annual assessment.
The estimated fair values of the Corporation's reporting units are subject to uncertainty, including future changes in fair values of banks in general and future operating results of reporting units, which could differ significantly from the assumptions used in the current valuation of reporting units.
The following table summarizes intangible assets, which are included in goodwill and net intangible assets on the consolidated balance sheets:
December 31,
20242023
(dollars in thousands)
Amortizing intangible assets$106,196 $13,596 
Accumulated amortization(24,085)(6,255)
Net intangibles$82,111 $7,341 
Net intangibles included CDI of $80.2 million and $4.9 million as of December 31, 2024 and 2023, respectively. The CDI was recorded as part of the Republic First Transaction and the Merger and is being amortized over seven years using the sum-of-the-years' digits method.
The following table summarizes CDI amortization expense for each of the next five years and thereafter (dollars in thousands):
Year
2025$22,010 
202618,667 
202715,066 
202811,213 
20297,717 
Thereafter5,512 
Total$80,185