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Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2019

Goodwill And Other Intangible Assets [Abstract]

Note 8 – Goodwill and Other Intangible Assets

The following is a summary of the gross carrying amount and accumulated amortization of amortizable intangible assets as of March 31, 2019, December 31, 2018, and March 31, 2018 and the carrying amount of unamortized intangible assets as of those same dates.

	March 31, 2019				December 31, 2018				March 31, 2018
($ in thousands)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizable intangible assets:
Customer lists	$	6,013		1,774		6,013		1,637		6,013		1,185
Core deposit intangibles		28,440		17,585		28,440		16,469		28,440		12,803
SBA servicing asset		6,072		1,352		5,472		1,053		3,348		319
Other		1,303		1,036		1,303		957		1,303		718
Total	$	41,828		21,747		41,228		20,116		39,104		15,025

Unamortizable intangible
assets:
Goodwill	$	234,368				234,368				231,681

The Company recorded $600,000 and $1,154,000 in servicing assets associated with the guaranteed portion of SBA loans originated and sold during the first quarters of 2019 and 2018, respectively. During the first quarters of 2019 and 2018, the Company recorded $299,000 and $112,000, respectively, in related amortization expense. Servicing assets are recorded for loans, or portions thereof, that the Company has sold but continue to service for a fee. Servicing assets are recorded at fair value and amortized over the expected lives of the related loans and are tested for impairment on a quarterly basis. SBA servicing asset amortization expense is recorded within noninterest income to offset SBA servicing fees.

Amortization expense of all other intangible assets totaled $1,332,000 and $1,560,000 for the three months ended March 31, 2019 and 2018, respectively.

The following table presents the estimated amortization expense related to amortizable intangible assets for the last three quarters of calendar year 2019 and for each of the four 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 amortized intangible assets.

($ in thousands)	Estimated Amortization Expense
April 1 to December 31, 2019	$	4,191
2020		4,641
2021		3,628
2022		2,525
2023		1,453
Thereafter		3,643
Total	$	20,081