XML 34 R14.htm IDEA: XBRL DOCUMENT
v3.25.1

Goodwill and Other Intangible Assets | 3 Months Ended
--- | ---
Mar. 31, 2025
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 $1.32 billion at March 31, 2025 and December 31, 2024. Goodwill impairment was neither indicated nor recorded during the three months ended March 31, 2025 or the year ended December 31, 2024. Core deposit premiums represent the value of the relationships that acquired banks had with their deposit customers and 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. Other intangible assets represent the value of other acquired relationships, including relationships with trust and wealth management customers, and are being amortized over various periods ranging from 8 years to 15 years. Changes in the carrying amount and accumulated amortization of the Company’s core deposit premiums and other intangible assets at March 31, 2025 and December 31, 2024 were as follows:
| March 31, |  | December 31,
(In thousands) | 2025 |  | 2024
Core deposit premiums: |  |  |
Balance, beginning of year | $ | 87,575 |  |  | $ | 101,344 |
Amortization | (3,120) |  |  | (13,769) |
Balance, end of period | 84,455 |  |  | 87,575 |
Books of business and other intangibles: |  |  |
Balance, beginning of year | 9,667 |  |  | 11,301 |
Amortization | (408) |  |  | (1,634) |
Balance, end of period | 9,259 |  |  | 9,667 |
Total other intangible assets, net | $ | 93,714 |  |  | $ | 97,242 |
The carrying basis and accumulated amortization of the Company’s other intangible assets at March 31, 2025 and December 31, 2024 were as follows:
| March 31, |  | December 31,
(In thousands) | 2025 |  | 2024
Core deposit premiums: |  |  |
Gross carrying amount | $ | 173,305 |  |  | $ | 177,624 |
Accumulated amortization | (88,850) |  |  | (90,049) |
Core deposit premiums, net | 84,455 |  |  | 87,575 |
Books of business and other intangibles: |  |  |
Gross carrying amount | 22,068 |  |  | 22,068 |
Accumulated amortization | (12,809) |  |  | (12,401) |
Books of business and other intangibles, net | 9,259 |  |  | 9,667 |
Total other intangible assets, net | $ | 93,714 |  |  | $ | 97,242 |
The Company’s estimated remaining amortization expense on other intangible assets as of March 31, 2025 is as follows:
(In thousands) | Year |  | Amortization Expense
| Remainder of 2025 |  | $ | 9,292 |
| 2026 |  | 12,346 |
| 2027 |  | 12,218 |
| 2028 |  | 11,312 |
| 2029 |  | 8,563 |
| Thereafter |  | 39,983 |
| Total |  | $ | 93,714 |

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://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
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration