XML 41 R19.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Goodwill and Acquired Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Acquired Intangible Assets | Note 8 - Goodwill and Acquired Intangible Assets The following table presents changes in the carrying amount of goodwill:
|  | For the Year Ended December 31,
(In thousands) |  | 2024 |  | 2023 |  | 2022
Beginning of year |  | $ | 732,417 |  |  | $ | 480,319 |  |  | $ | 252,154 |
Changes from business combinations |  | — |  |  | 252,098 |  |  | 228,165 |
Total |  | $ | 732,417 |  |  | $ | 732,417 |  |  | $ | 480,319 |
The Company performs an analysis for goodwill impairment annually in the fourth quarter or more frequently as considered necessary. The Company performed a qualitative goodwill assessment in the fourth quarter of 2024, and concluded that a quantitative goodwill impairment test was not necessary as it was not more likely-than-not that the fair value of the Company’s reporting unit was below the carrying amount. Based on the analyses performed, the Company concluded that goodwill was not impaired during the periods presented. Acquired intangible assets primarily consist of CDI, which are intangible assets arising from the purchase of deposits separately or from bank acquisitions. The change in balance for CDI is as follows:
|  | For the Year Ended December 31,
(In thousands) |  | 2024 |  | 2023 |  | 2022
Beginning of year |  | $ | 91,702 |  |  | $ | 71,285 |  |  | $ | 12,998 |
Acquired CDI, including measurement period adjustments |  | — |  |  | 49,143 |  |  | 67,388 |
Amortization expense |  | (23,628) |  |  | (28,726) |  |  | (9,101) |
End of year |  | $ | 68,074 |  |  | $ | 91,702 |  |  | $ | 71,285 |
The gross carrying amount and accumulated amortization of the Company's CDI subject to amortization as of:
|  | December 31, 2024 |  | December 31, 2023
(In thousands) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Core deposit intangible |  | $ | 125,720 |  |  | $ | (57,646) |  |  | $ | 135,212 |  |  | $ | (43,511) |
The annual amortization expense for the Company's CDI for each of the five years subsequent to December 31, 2024 is $19.9 million, $16.4 million, $13.0 million, $9.3 million and $6.1 million, respectively. Certain customer relationships were acquired in 2022 through the acquisition of Drummond and its insurance agency subsidiary. The gross carrying amount assigned to these relationships as of December 31, 2024 is $2.6 million and the accumulated amortization is $0.6 million. The intangible asset is being amortized on a straight line basis over 10 years. The carrying value of servicing rights retained from the sale of the guaranteed portion of SBA loans totaled $1.7 million at December 31, 2024 and 2023.

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