XML 27 R15.htm IDEA: XBRL DOCUMENT
v3.19.3

Goodwill and Other Intangible Assets | 9 Months Ended
--- | ---
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill is tested annually, or more often than annually, if circumstances warrant, for impairment. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated, and goodwill is written down to its implied fair value. Subsequent increases in goodwill value are not recognized in the financial statements. Goodwill totaled $926.6 million at September 30, 2019 and $845.7 million at December 31, 2018. The Company recorded $81.0 million of goodwill during the second quarter 2019 as a result of its acquisition of Reliance. Goodwill impairment was neither indicated nor recorded during the nine months ended September 30, 2019 or the year ended December 31, 2018. Core deposit premiums are amortized over periods ranging from 10 years to 15 years and are periodically evaluated, at least annually, as to the recoverability of their carrying value. Core deposit premiums of $18.4 million were recorded during the second quarter 2019 as part of the Reliance acquisition. Additionally, intangible assets are being amortized over various periods ranging from 10 years to 15 years. The Company’s goodwill and other intangibles (carrying basis and accumulated amortization) at September 30, 2019 and December 31, 2018, were as follows:
(In thousands) | September 30, 2019 |  | December 31, 2018
Goodwill | $ | 926,648 |  |  | $ | 845,687 |
Core deposit premiums: |  |  |
Gross carrying amount | 124,334 |  |  | 105,984 |
Accumulated amortization | (33,918 | ) |  | (26,177 | )
Core deposit premiums, net | 90,416 |  |  | 79,807 |
Books of business intangible: |  |  |
Gross carrying amount | 15,234 |  |  | 15,234 |
Accumulated amortization | (4,501 | ) |  | (3,707 | )
Books of business intangible, net | 10,733 |  |  | 11,527 |
Other intangible assets, net | 101,149 |  |  | 91,334 |
Total goodwill and other intangible assets | $ | 1,027,797 |  |  | $ | 937,021 |
The Company’s estimated remaining amortization expense on intangibles as of September 30, 2019 is as follows:
(In thousands) | Year |  | Amortization Expense
| Remainder of 2019 |  | $ | 2,947 |
| 2020 |  | 11,776 |
| 2021 |  | 11,714 |
| 2022 |  | 11,662 |
| 2023 |  | 11,379 |
| Thereafter |  | 51,671 |
| Total |  | $ | 101,149 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration