XML 51 R36.htm IDEA: XBRL DOCUMENT v3.10.0.1
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2018
Goodwill and Other Intangible Assets [Abstract]  
Summary of the gross carrying amount and accumulated amortization of amortizable intangible assets and the carrying amount of unamortized intangible assets

The following is a summary of the gross carrying amount and accumulated amortization of amortizable intangible assets as of December 31, 2018 and December 31, 2017 and the carrying amount of unamortizable intangible assets as of those same dates.

 

   December 31, 2018   December 31, 2017 
($ in thousands)  Gross Carrying
Amount		   Accumulated
Amortization		   Gross Carrying
Amount		   Accumulated
Amortization		 
Amortizable intangible assets:                    
   Customer lists  $6,013    1,637    6,013    1,090 
   Core deposit intangibles   28,440    16,469    28,280    11,475 
   SBA servicing asset   5,472    1,053    2,194    207 
   Other   1,303    957    1,303    581 
        Total  $41,228    20,116    37,790    13,353 
                     
Unamortizable intangible assets:                    
   Goodwill  $234,368         233,070      

 

Activity related to transactions since January 1, 2017 includes the following:

 

(1)In connection with the Carolina Bank acquisition on March 3, 2017, the Company recorded a net increase of $66,540,000 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 $88,677,000 in goodwill and $9,880,000 in a core deposit intangible.

 
Schedule of the estimated amortization expense for the five succeeding fiscal years

The following table presents the estimated amortization expense related to amortizable intangible assets for each of the five calendar years ending December 31, 2023 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 amortizable intangible assets.

 

($ in thousands)  Estimated
Amortization Expense		 
2019  $5,649 
2020   4,549 
2021   3,549 
2022   2,459 
2023   1,398 
Thereafter   3,508 
         Total  $21,112