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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill, Other Intangible Assets and Servicing Assets The following is a summary of the gross carrying amount and accumulated amortization of amortizable intangible assets and the carrying amount of unamortized intangible assets as of the periods presented.
|  | September 30, 2024 |  | December 31, 2023
($ in thousands) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Amount
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Customer lists |  | $ | 1,600 |  |  | $ | 1,307 |  |  | $ | 293 |  |  | $ | 2,700 |  |  | $ | 2,167 |  |  | $ | 533 |
Core deposit intangibles |  | 57,890 |  |  | 33,717 |  |  | 24,173 |  |  | 57,890 |  |  | 28,933 |  |  | 28,957 |
Other intangibles |  | 100 |  |  | 100 |  |  | — |  |  | 100 |  |  | 83 |  |  | 17 |
Total amortizable intangible assets |  | $ | 59,590 |  |  | $ | 35,124 |  |  | $ | 24,466 |  |  | $ | 60,690 |  |  | $ | 31,183 |  |  | $ | 29,507 |
Unamortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 478,750 |  |  |  |  |  |  | $ | 478,750 |  |  |  |  |
Customer lists are generally amortized over five years and core deposit intangibles are generally amortized over 10 years, both at an accelerated rate. Amortization expense of all amortizable intangible assets totaled $1.6 million and $2.0 million for the three months ended September 30, 2024 and 2023, respectively, and $5.0 million and $6.1 million for the nine months ended September 30, 2024 and 2023, respectively. Goodwill is evaluated for impairment on at least an annual basis, with the annual evaluation occurring as of October 31 of each year. Goodwill is also evaluated for impairment any time there is a triggering event indicating that impairment may have occurred. No triggering events were identified during 2024 to date and, therefore, the Company did not perform interim impairment evaluations. The Company's most recent evaluation of goodwill, which occurred in the fourth quarter of 2023, indicated that there was no goodwill impairment. There was no change to carrying amounts of goodwill during 2024. The following table presents the estimated amortization expense schedule related to acquisition-related amortizable intangible assets. These amounts will be recorded as "Intangibles amortization expense" within the noninterest expense section of the consolidated statements of income. These estimates are subject to change in future periods to the extent management determines it is necessary to make adjustments to the carrying value or estimated useful lives of amortizable intangible assets.
($ in thousands) |  | Estimated Amortization Expense
October 1, 2024 to December 31, 2024 |  | $ | 1,562 |
2025 |  | 5,672 |
2026 |  | 4,704 |
2027 |  | 3,951 |
2028 |  | 3,197 |
Thereafter |  | 5,380 |
Total |  | $ | 24,466 |
The Company recorded SBA guaranteed servicing fee income of $0.8 million for the three months ended September 30, 2024 and 2023, and $2.3 million and $2.7 million for the nine months ended September 30, 2024 and 2023, respectively. There was no impairment of SBA servicing assets at September 30, 2024 and December 31, 2023 and no significant methodology changes have been made since year end. The following table presents the changes in the SBA servicing assets (included in "Other assets" in the Company's consolidated balance sheet) for the three and nine months ended September 30, 2024 and 2023:
|  | Three months ended September 30, |  | Nine months ended September 30,
($ in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Beginning balance, net |  | $ | 3,003 |  |  | $ | 3,781 |  |  | $ | 3,350 |  |  | $ | 4,004 |
Add: New servicing assets |  | 315 |  |  | 191 |  |  | 858 |  |  | 464 |
Less: Amortization expense and impairment charges |  | 358 |  |  | 457 |  |  | 1,248 |  |  | 953 |
Ending balance, net |  | $ | 2,960 |  |  | $ | 3,515 |  |  | $ | 2,960 |  |  | $ | 3,515 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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