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Goodwill and Other Intangible Assets | 6 Months Ended
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Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The following is a summary of the gross carrying amount and accumulated amortization of amortizable intangible assets as of June 30, 2020 and December 31, 2019, and the carrying amount of unamortized intangible assets as of those same dates.
|  | June 30, 2020 |  | December 31, 2019
($ in thousands) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Amortizable intangible assets: |  |  |  |  |  |  |  |
Customer lists |  | $ | 6,013 |  |  | 2,445 |  |  | 6,013 |  |  | 2,185 |
Core deposit intangibles |  | 28,440 |  |  | 22,337 |  |  | 28,440 |  |  | 20,610 |
SBA servicing asset |  | 8,480 |  |  | 3,809 |  |  | 7,776 |  |  | 2,393 |
Other |  | 1,303 |  |  | 1,173 |  |  | 1,303 |  |  | 1,127 |
Total |  | $ | 44,236 |  |  | 29,764 |  |  | 43,532 |  |  | 26,315 |
Unamortizable intangible assets: |  |  |  |  |  |  |  |
Goodwill |  | $ | 234,368 |  |  |  |  | 234,368 |  |  |
SBA servicing assets are recorded for SBA loans, or portions thereof, that the Company has sold but continue to service for a fee. Servicing assets are initially 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 as an offset to SBA servicing fees within the line item "Other service charges, commissions, and fees." As noted in the table above, the Company has a SBA servicing asset at June 30, 2020 with a remaining book value of $4,671,000. The Company recorded $704,000 and $1,484,000 in servicing assets associated with the guaranteed portion of SBA loans sold during the first six months of 2020 and 2019, respectively. During the first six months of 2020 and 2019, the Company recorded $1,416,000 and $621,000, respectively, in related amortization expense. Included in the amortization expense for the first six months of 2020 is a first quarter of 2020 impairment charge of approximately $500,000 due to a decrease in the fair value of the asset resulting from deteriorations in market conditions at the end of the first quarter of 2020. Amortization expense of all other intangible assets totaled $978,000 and $1,242,000 for the three months ended June 30, 2020 and 2019, respectively. Amortization expense of all other intangible assets totaled $2,033,000 and $2,574,000 for the six months ended June 30, 2020 and 2019, respectively. During the period ended March 31, 2020, the economic turmoil and market volatility resulting from the COVID-19 crisis resulted in a substantial decrease in the Company's stock price and market capitalization. Management believed such decrease was a triggering indicator requiring an interim step-one goodwill impairment quantitative analysis. The results of the March 31, 2020 analysis determined that none of the Company's goodwill was impaired as of March 31, 2020. As a result of the continued economic turmoil and market volatility during the period ended June 30, 2020, the Company qualitatively reviewed the factors and assumptions used in the March 31, 2020 analysis, including financial projections, discount rates, and market premiums, in light of the triggering event existing as of June 30, 2020 and based on that analysis, the Company concluded there was no impairment of its goodwill at June 30, 2020. Management will continue to evaluate the economic conditions at future reporting periods for applicable changes. The following table presents the estimated amortization expense schedule related to acquisition-related amortizable intangible assets. These amounts will be recorded as "Intangibles amortization expense" within the noninterest expense section of the Consolidated Statements of Income. These estimates are subject to change in future periods to the extent management determines it is necessary to make adjustments to the carrying value or estimated useful lives of amortized intangible assets. income within the line item "Other service charges, commissions and fees" of the Consolidated Statements of Income.
($ in thousands) |  | Estimated Amortization Expense
July 1 to December 31, 2020 |  | $ | 1,808 |
2021 |  | 2,927 |
2022 |  | 2,022 |
2023 |  | 1,041 |
2024 |  | 404 |
Thereafter |  | 1,599 |
Total |  | $ | 9,801 |

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- 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
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