XML 105 R20.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Goodwill and Other Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS The following table presents goodwill as of the dates presented:
| December 31,
(dollars in thousands) | 2019 |  | 2018
Balance at beginning of year | $ | 287,446 |  |  | $ | 291,670 |
Additions(1) | 84,175 |  |  | — |
Other adjustments | — |  |  | (4,224 | )
Balance at End of Year | $ | 371,621 |  |  | $ | 287,446 |
(1)Management is continuing to evaluate the purchase accounting fair value adjustments for the DNB merger. Any changes in preliminary estimates will be adjusted in goodwill in subsequent periods, but not extending beyond one year from the date of acquisition. Goodwill represents the excess of the purchase price over the fair value of net assets acquired. Additional goodwill of $84.2 million was recorded during 2019 for our acquisition of DNB. Refer to Note 2 Business Combinations for further details on the DNB merger. We sold a majority interest in our insurance business which reduced goodwill by $4.2 million in 2018. Goodwill is reviewed for impairment annually or more frequently if it is determined that a triggering event has occurred. Based upon our qualitative assessment performed for our annual impairment analysis, we concluded that it is more likely than not that the fair value of the reporting units exceeds the carrying value. In general, the overall macroeconomic conditions and more specifically the economic conditions of the banking industry have been very good. Additionally, our overall performance has been good and we did not identify any other facts and circumstances causing us to conclude that it is more likely than not that the fair value of the reporting units would be less than the carrying value. The following table presents a summary of intangible assets as of the dates presented:
| December 31,
(dollars in thousands) | 2019 |  | 2018
Gross carrying amount at beginning of year | $ | 21,898 |  |  | $ | 22,114 |
Additions (1) | 9,154 |  |  | 80 |
Other adjustments | — |  |  | (296 | )
Accumulated amortization | (20,133 | ) |  | (19,297 | )
Balance at End of Year | $ | 10,919 |  |  | $ | 2,601 |
(1) Management is still evaluating the intangible asset valuation due to the final independent valuation report not being complete. Any changes in preliminary estimates will be adjusted in goodwill in subsequent periods, but not extending beyond one year from the date of acquisition. Intangible assets as of December 31, 2019 consisted of $10.9 million for core deposits and wealth management customer relationships resulting from acquisitions. The addition of $9.2 million during 2019 was due to $7.3 million for core deposit intangible assets and $1.9 million for wealth management customer relationships related to the DNB merger. We determined the amount of identifiable intangible assets for our core deposits based upon an independent valuation. Other intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. There were no triggering events in 2019 requiring an impairment analysis to be completed. Amortization expense on finite-lived intangible assets totaled $0.8 million, $0.9 million and $1.2 million for 2019, 2018 and 2017. The following is a summary of the expected amortization expense for finite-lived intangible assets, assuming no new additions, for each of the five years following December 31, 2019 and thereafter:
(dollars in thousands) | Amount |
2020 | $ | 2,421 |
2021 | 1,738 |
2022 | 1,474 |
2023 | 1,274 |
2024 | 1,110 |
Thereafter | 2,902 |
Total | $ | 10,919 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
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