XML 34 R24.htm IDEA: XBRL DOCUMENT v3.24.2.u1

GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Goodwill and Intangible Assets

The following table summarizes the changes in the Company’s goodwill and other intangibles for the year ended December 31, 2023 and the six months ended June 30, 2024 (in thousands):

			Goodwill						CDI						Total
Balance, December 31, 2022			$	373,121					$	9,440					$	382,561
Amortization			—						(3,756)						(3,756)
Balance, December 31, 2023			373,121						5,684						378,805
Amortization			—						(1,447)						(1,447)
Balance, June 30, 2024			$	373,121					$	4,237					$	377,358

Schedule of Estimated Annual Amortization Expense

The following table presents the estimated amortization expense with respect to CDI as of June 30, 2024, for the periods indicated (in thousands):

						Estimated Amortization
Remainder of 2024						$	1,179
2025						1,567
2026						904
2027						426
2028						126
Thereafter						35
						$	4,237

Schedule of Servicing Assets at Amortized Value

An analysis of the mortgage and SBA servicing rights for the three and six months ended June 30, 2024 and 2023 is presented below (in thousands):

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Balance, beginning of the period			$	14,293					$	15,613					$	14,649					$	16,166
Additions—amounts capitalized			478						349						784						485
Additions—through purchase			74						85						109						124
Amortization (1)			(797)						(827)						(1,603)						(1,674)
Fair value adjustments (2)			(38)						(109)						71						10
Balance, end of the period (3)			$	14,010					$	15,111					$	14,010					$	15,111

(1)    Amortization of mortgage servicing rights is recorded as a reduction of loan servicing income within mortgage banking operations and any unamortized balance is fully amortized if the loan repays in full.

(2)    Fair value adjustments relate to SBA servicing rights. These adjustments are estimated based on an independent dealer analysis by discounting estimated net future cash flows from servicing SBA loans.

(3)    There was no valuation allowance on mortgage servicing rights as of both June 30, 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

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

+ 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_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of activity in the balance of servicing assets subsequently measured at amortized cost. Includes, but is not limited to, beginning and ending balances, additions, disposals, and amortization.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481229/860-50-50-4

+ Details

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

X

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482640/350-30-55-40

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2

+ Details

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