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GOODWILL AND OTHER INTANGIBLE ASSETS, NET
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS, NET
GOODWILL AND OTHER INTANGIBLE ASSETS, NET
At December 31, 2018 and 2017, the Company had goodwill of $37.1 million. The following table presents changes in the carrying amount of goodwill for the periods indicated:
 
 
Year Ended December 31,
($ in thousands)
 
2018
 
2017
 
2016
Goodwill balance at beginning of the year
 
$
37,144

 
$
39,244

 
$
39,244

Goodwill adjustments for discontinued operations
 

 
(2,100
)
 

Goodwill balance at end of year
 
$
37,144

 
$
37,144

 
$
39,244

Accumulated impairment losses at end of year
 
$
2,100

 
$
2,100

 
$


Goodwill was allocated between the Commercial Banking and Mortgage Banking segments using a relative fair value approach in connection with the Company's realignment of segment reporting at December 31, 2014. The carrying values of goodwill allocated to the reportable segments were $37.1 million and $2.1 million to the Commercial Banking segment and Mortgage Banking segment, respectively, at December 31, 2016. During the year ended December 31, 2017, the Company discontinued its mortgage banking operations following the sale of its Banc Home Loans division and wrote off goodwill of $2.1 million, which was previously allocated to its Mortgage Banking segment, against the gain on disposal of discontinued operations. The Company determined that its Mortgage Banking segment is no longer applicable, and Commercial Banking is now the Company's only reportable segment. See Note 2 for additional information.
The Company evaluates goodwill impairment as of August 31 each year, and more frequently if events or circumstances indicate that there may be impairment. The Company completed its annual goodwill impairment test (Step 0) as of August 31, 2018 and determined that no goodwill impairment existed.
Core deposit intangibles are amortized over their useful lives ranging from four to ten years. As of December 31, 2018, the weighted-average remaining amortization period for core deposit intangibles was approximately 5.3 years. The following table presents a summary of other intangible assets as of the dates indicated:
($ in thousands)
 
Gross Carrying Value
 
Accumulated Amortization
 
Net Carrying Value
December 31, 2018
 
 
 
 
 
 
Core deposit intangibles
 
$
30,904

 
$
24,558

 
$
6,346

December 31, 2017
 
 
 
 
 
 
Core deposit intangibles
 
$
30,904

 
$
21,551

 
$
9,353

The Company recorded impairment on intangible assets of $0, $336 thousand, and $690 thousand for the years ended December 31, 2018, 2017, and 2016, respectively. During the year ended December 31, 2017, the Company also wrote off a customer relationship intangible of $246 thousand and a trade name intangible of $90 thousand related to RenovationReady. RenovationReady was acquired by the Company in 2014 and provided specialized loan services to financial institutions and mortgage bankers that originate agency eligible residential renovation and construction loan products. During the year ended December 31, 2016, the Company ceased to use the CS Financial trade name and wrote off the related trade name intangible of $690 thousand. CS Financial is a mortgage banking firm, which is the Bank's wholly owned subsidiary and which the Bank acquired in 2013. The impairment losses recognized related to intangible assets are recorded in Impairment on Intangible Assets on the Consolidated Statements of Operations.
Aggregate amortization of intangible assets was $3.0 million, $3.9 million and $4.9 million for the years ended December 31, 2018, 2017, and 2016, respectively. The following table presents estimated future amortization expenses as of December 31, 2018:
($ in thousands)
 
2019
 
2020
 
2021
 
2022
 
2023
 
2024 and After
 
Total
Estimated future amortization expense
 
$
2,195

 
$
1,518

 
$
1,082

 
$
799

 
517

 
$
235

 
$
6,346