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GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Tables) | 9 Months Ended
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Sep. 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 nine months ended September 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 | — |  |  | (2,037) |  |  | (2,037) |
Balance, September 30, 2024 | $ | 373,121 |  |  | $ | 3,647 |  |  | $ | 376,768 |
Schedule of Estimated Annual Amortization Expense | The following table presents the estimated amortization expense with respect to CDI as of September 30, 2024, for the periods indicated (in thousands):
|  | Estimated Amortization
Remainder of 2024 |  | $ | 589 |
2025 |  | 1,567 |
2026 |  | 904 |
2027 |  | 426 |
2028 |  | 126 |
Thereafter |  | 35 |
|  | $ | 3,647 |
Schedule of Servicing Assets at Amortized Value | An analysis of the mortgage and SBA servicing rights for the three and nine months ended September 30, 2024 and 2023 is presented below (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Balance, beginning of the period | $ | 14,010 |  |  | $ | 15,111 |  |  | $ | 14,649 |  |  | $ | 16,166 |
Additions—amounts capitalized | 391 |  |  | 638 |  |  | 1,175 |  |  | 1,123 |
Additions—through purchase | 56 |  |  | 98 |  |  | 165 |  |  | 222 |
Amortization (1) | (827) |  |  | (851) |  |  | (2,430) |  |  | (2,525) |
Fair value adjustments (2) | (21) |  |  | (128) |  |  | 50 |  |  | (118) |
Impairment valuation adjustments (3) | (6) |  |  | — |  |  | (6) |  |  | — |
Balance, end of the period | $ | 13,603 |  |  | $ | 14,868 |  |  | $ | 13,603 |  |  | $ | 14,868 |
(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) Impairment valuation adjustments are recorded on mortgage servicing rights when the carrying value exceeded the fair value for a specific tranche within the mortgage servicing rights portfolio.

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