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Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangibles

Changes in the carrying amount and accumulated amortization of the Company’s core deposit premiums and other intangible assets at September 30, 2020 and December 31, 2019 were as follows: 

			September 30,						December 31,
(In thousands)			2020						2019
Core deposit premiums:
Balance, beginning of year			$	111,808					$	79,807
Acquisitions(1)			—						42,695
Disposition of intangible asset(2)			(2,324)						—
Amortization			(9,114)						(10,694)
Balance, end of period			100,370						111,808
Books of business and other intangibles:
Balance, beginning of year			15,532						11,527
Acquisitions(3)			—						5,116
Disposition of intangible asset			(413)						—
Amortization			(1,029)						(1,111)
Balance, end of period			14,090						15,532
Total other intangible assets, net			$	114,460					$	127,340

_________________________

(1)    Core deposit premiums of $24.3 million and $18.4 million were recorded during 2019 as part of the Landrum and Reliance acquisitions, respectively. See Note 2, Acquisitions, for additional information on acquisitions completed in 2019.

(2)    Adjustments recorded for the premiums on certain deposit liabilities associated with the sale of the Texas Branches and Colorado Branches.

(3)    The Company recorded $5.1 million during 2019 primarily related to the wealth management operations acquired from Landrum. See Note 2, Acquisitions, for additional information on acquisitions completed in 2019.

The carrying basis and accumulated amortization of the Company’s other intangible assets at September 30, 2020 and December 31, 2019 were as follows:  

			September 30,						December 31,
(In thousands)			2020						2019
Core deposit premiums:
Gross carrying amount			$	146,355					$	148,679
Accumulated amortization			(45,985)						(36,871)
Core deposit premiums, net			100,370						111,808
Books of business and other intangibles:
Gross carrying amount			19,938						20,350
Accumulated amortization			(5,848)						(4,818)
Books of business and other intangibles, net			14,090						15,532
Total other intangible assets, net			$	114,460					$	127,340

Estimated Remaining Amortization Expense

The Company’s estimated remaining amortization expense on other intangible assets as of September 30, 2020 is as follows:

(In thousands)			Year						Amortization Expense
			Remainder of 2020						$	3,351
			2021						13,379
			2022						13,327
			2023						13,044
			2024						12,141
			Thereafter						59,218
			Total						$	114,460

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Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class.

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-Name Accounting Standards Codification
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Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 30
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-Paragraph 2
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