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GOODWILL AND OTHER INTANGIBLES | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLES | GOODWILL AND OTHER INTANGIBLES At September 30, 2025 and December 31, 2024, the Company had goodwill of $843.3 million, from prior acquisitions. Goodwill represents the excess of the total acquisition price paid over the fair value of the assets acquired, net of fair value of liabilities assumed. As discussed in Note 2, “Business Combination,” a bargain purchase gain was recorded as a result of the Merger, therefore, no goodwill was recognized. Core deposit intangibles assets o f $90.8 million were recognized as a result of the Merger. Core deposit intangible assets values were determined by an analysis of the cost differential between the core deposits inclusive of estimated servicing costs and alternative funding sources for core deposits acquired through business combinations. The core deposit intangible assets recorded are amortized on an accelerated basis over a period of 8 years. No impairment losses separate from the scheduled amortization have been recognized in the periods presented. Other intangibles acquired of $23.5 million related to a DUS license was recognized related to the Merger. The value of the DUS licenses was determined by the average value implied under the Base and Growth scenarios using market data available from comparable public companies. The Company’s core deposit intangibles are amortized over their useful lives ranging from 6 to 10 years using the sum of years digits. The weighted average remaining amortization period for core deposit intangibles was approximately 8 years as of September 30, 2025. Trade name intangibles and DUS license intangibles have an indefinite life and are not amortized. The following table summarizes other intangible assets:
| Other Intangible Assets
(in thousands) | Gross Carrying Value |  | Accumulated Amortization |  | Accumulated Impairment |  | Net Carrying Value
Balance, June 30, 2025 | $183,403 |  | $147,774 |  | $2,321 |  | $33,308
Additions from the Merger | 114,207 |  | — |  | — |  | 114,207
Amortization | — |  | 4,251 |  | — |  | 4,251
Balance, September 30, 2025 | $297,610 |  | $152,025 |  | $2,321 |  | $143,264
Aggregate amortization of intangible assets was $4.3 million, $3.3 million, $9.7 million and $10.7 million for the quarters and nine months ended September 30, 2025 and 2024, respectively. The following table presents estimated future amortization expense as of September 30, 2025:
(in thousands) |  | September 30, 2025
Period ending December 31, |  |
2025 |  | $7,480
2026 |  | 27,950
2027 |  | 22,173
2028 |  | 16,397
2029 |  | 11,558
Thereafter |  | 18,657
Total future amortization expense |  | $104,215

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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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