XML 29 R18.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Goodwill and Other Intangible Assets | 9 Months Ended
--- | ---
Sep. 30, 2018
Goodwill And Other Intangible Assets [Abstract] |
Goodwill and Other Intangible Assets | Note 10 – Goodwill and Other Intangible Assets The following is a summary of the gross carrying amount and accumulated amortization of amortizable intangible assets as of September 30, 2018, December 31, 2017, and September 30, 2017 and the carrying amount of unamortized intangible assets as of those same dates.
|  | September 30, 2018 |  |  | December 31, 2017 |  |  | September 30, 2017 |
($ in thousands) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer lists |  | $ | 6,013 |  |  |  | 1,459 |  |  |  | 6,013 |  |  |  | 1,090 |  |  |  | 6,013 |  |  |  | 953 |
Core deposit intangibles |  |  | 28,440 |  |  |  | 15,300 |  |  |  | 28,280 |  |  |  | 11,475 |  |  |  | 18,520 |  |  |  | 10,084 |
SBA servicing asset |  |  | 4,949 |  |  |  | 761 |  |  |  | 2,194 |  |  |  | 207 |  |  |  | 1,418 |  |  |  | 112 |
Other |  |  | 1,303 |  |  |  | 906 |  |  |  | 1,303 |  |  |  | 581 |  |  |  | 1,303 |  |  |  | 471 |
Total |  | $ | 40,705 |  |  |  | 18,426 |  |  |  | 37,790 |  |  |  | 13,353 |  |  |  | 27,254 |  |  |  | 11,620 |
Unamortizable intangible |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 232,458 |  |  |  |  |  |  |  | 233,070 |  |  |  |  |  |  |  | 144,667 |  |  |  |  |
Activity related to transactions during the periods includes the following:
| (1) | In connection with the Carolina Bank acquisition on March 3, 2017, the Company recorded a net increase of $65,072,000 in goodwill and $8,790,000 in a core deposit intangible.
| (2) | In connection with the September 1, 2017 acquisition of Bear Insurance Service, the Company recorded $5,330,000 in goodwill, $3,644,000 in a customer list intangible, and $271,000 in other amortizable intangible assets.
| (3) | In connection with the Asheville Savings Bank acquisition on October 1, 2017, the Company recorded a net increase of $88,235,000 in goodwill and $9,880,000 in a core deposit intangible.
In addition to the above acquisition related activity, the Company recorded $2,755,000 and $1,003,000 in servicing assets associated with the guaranteed portion of SBA loans originated and sold during the first nine months of 2018 and 2017, respectively. During the first nine months of 2018 and 2017, the Company recorded $555,000 and $112,000, respectively, in related amortization expense. Servicing assets are recorded at fair value and amortized over the expected life of the related loans. Amortization expense of all intangible assets totaled $1,656,000 and $902,000 for the three months ended September 30, 2018 and 2017, respectively, and $5,073,000 and $2,509,000 for the nine months ended September 30, 2018 and 2017, respectively. The following table presents the estimated amortization expense related to amortizable intangible assets for the last quarter of calendar year 2018 and for each of the four calendar years ending December 31, 2022 and the estimated amount amortizable thereafter. These estimates are subject to change in future periods to the extent management determines it is necessary to make adjustments to the carrying value or estimated useful lives of amortized intangible assets.
($ in thousands) |  | Estimated Amortization Expense |
October 1 to December 31, 2018 |  | $ | 1,589 |
2019 |  |  | 5,570 |
2020 |  |  | 4,481 |
2021 |  |  | 3,492 |
2022 |  |  | 2,411 |
Thereafter |  |  | 4,736 |
Total |  | $ | 22,279 |

X
- References No definition available. + Details
Name: | fbp_GoodwillAndOtherIntangibleAssetsAbstract
Namespace Prefix: | fbp_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration