XML 33 R20.htm IDEA: XBRL DOCUMENT
v3.20.4

Goodwill and Other Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2020
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) | 2020 |  | 2019
Balance at beginning of year | $ | 371,621 |  |  | $ | 287,446 |
Additions | 1,803 |  |  | 84,175 |
Balance at End of Year | $ | 373,424 |  |  | $ | 371,621 |
Goodwill represents the excess of the purchase price over the fair value of net assets acquired. Additional goodwill of $1.8 million and $84.2 million was recorded during 2020 and 2019 related to our acquisition of DNB. Refer to Note 2 Business Combinations for further details on the DNB merger. Goodwill is reviewed for impairment annually or more frequently if it is determined that a triggering event has occurred. In response to the current economic environment as a result of the COVID-19 pandemic, we completed an interim quantitative goodwill impairment analysis as of August 31, 2020 and updated this analysis as of October 1, 2020, our annual goodwill impairment evaluation date. Additionally, we completed an interim quantitative goodwill impairment analysis as of November 30, 2020 and updated this analysis as of December 31, 2020. Based upon our impairment analysis, we determined that our goodwill of $373.4 million was not impaired at December 31, 2020. The following table presents a summary of intangible assets as of the dates presented:
| December 31,
(dollars in thousands) | 2020 |  | 2019
Gross carrying amount at beginning of year | $ | 31,052 |  |  | $ | 21,898 |
Additions | 288 |  |  | 9,154 |
Accumulated amortization | (22,665) |  |  | (20,133) |
Balance at End of Year | $ | 8,675 |  |  | $ | 10,919 |
Intangible assets of $8.7 million at December 31, 2020 relate to core deposit and wealth management customer relationships resulting from acquisitions. The $0.3 million addition during 2020 related to acquired wealth management customer relationships. 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 2020 requiring an impairment analysis to be completed. Amortization expense on finite-lived intangible assets totaled $2.5 million, $0.8 million and $0.9 million for 2020, 2019 and 2018. 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, 2020 and thereafter:
(dollars in thousands) | Amount
2021 | $ | 1,780 |
2022 | 1,518 |
2023 | 1,319 |
2024 | 1,151 |
2025 | 820 |
Thereafter | 2,087 |
Total | $ | 8,675 |

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