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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | NOTE 7 - GOODWILL AND INTANGIBLE ASSETS Goodwill and intangible assets consist of the following:
|  | December 31 |  |  | December 31, |
(Dollars in thousands) |  | 2017 |  |  | 2016 |
Goodwill |  | $ | 44,126 |  |  | $ | 28,810 |
|  | December 31, 2017 |  |  | December 31, 2016 |
|  | Gross Carrying |  |  | Accumulated |  |  | Net Carrying |  |  | Gross Carrying |  |  | Accumulated |  |  | Net Carrying |
(Dollars in thousands) |  | Amount |  |  | Amortization |  |  | Amount |  |  | Amount |  |  | Amortization |  |  | Amount |
Core deposit intangibles |  | $ | 29,511 |  |  | $ | (11,335 | ) |  | $ | 18,176 |  |  | $ | 21,825 |  |  | $ | (8,423 | ) |  | $ | 13,402 |
Other intangible assets |  |  | 1,764 |  |  |  | (288 | ) |  |  | 1,476 |  |  |  | 6,006 |  |  |  | (1,687 | ) |  |  | 4,319 |
|  | $ | 31,275 |  |  | $ | (11,623 | ) |  | $ | 19,652 |  |  | $ | 27,831 |  |  | $ | (10,110 | ) |  | $ | 17,721 |
The changes in goodwill and intangible assets by operating segment during the year are as follows:
(Dollars in thousands) |  |  |  |  |  |  |  |  |  | Asset |  |  |  |  |
December 31, 2017 |  | Banking |  |  | Factoring |  |  | Management |  |  | Total |
Beginning balance |  | $ | 36,139 |  |  | $ | 8,871 |  |  | $ | 1,521 |  |  | $ | 46,531 |
Acquired goodwill |  |  | 16,340 |  |  |  | — |  |  |  | — |  |  |  | 16,340 |
Acquired intangibles |  |  | 9,478 |  |  |  | — |  |  |  | — |  |  |  | 9,478 |
Amortization of intangibles |  |  | (5,016 | ) |  |  | (3 | ) |  |  | (182 | ) |  |  | (5,201 | )
Divestiture of intangibles |  |  | — |  |  |  | — |  |  |  | (1,339 | ) |  |  | (1,339 | )
Reclass of goodwill to assets held for sale |  |  | (1,024 | ) |  |  | — |  |  |  | — |  |  |  | (1,024 | )
Reclass of intangibles to assets held for sale |  |  | (1,007 | ) |  |  | — |  |  |  | — |  |  |  | (1,007 | )
Ending balance |  | $ | 54,910 |  |  | $ | 8,868 |  |  | $ | — |  |  | $ | 63,778 |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  | Asset |  |  |  |  |
December 31, 2016 |  | Banking |  |  | Factoring |  |  | Management |  |  | Total |
Beginning balance |  | $ | 17,482 |  |  | $ | 8,875 |  |  | $ | 1,497 |  |  | $ | 27,854 |
Acquired goodwill |  |  | 12,842 |  |  |  | — |  |  |  | — |  |  |  | 12,842 |
Acquired intangibles |  |  | 8,818 |  |  |  | — |  |  |  | 799 |  |  |  | 9,617 |
Amortization of intangibles |  |  | (3,003 | ) |  |  | (4 | ) |  |  | (775 | ) |  |  | (3,782 | )
Ending balance |  | $ | 36,139 |  |  | $ | 8,871 |  |  | $ | 1,521 |  |  | $ | 46,531 |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  | Asset |  |  |  |  |
December 31, 2015 |  | Banking |  |  | Factoring |  |  | Management |  |  | Total |
Beginning balance |  | $ | 20,187 |  |  | $ | 8,870 |  |  | $ | — |  |  | $ | 29,057 |
Acquired goodwill |  |  | — |  |  |  | 8 |  |  |  | 2,768 |  |  |  | 2,776 |
Amortization of intangibles |  |  | (2,705 | ) |  |  | (3 | ) |  |  | (1,271 | ) |  |  | (3,979 | )
Ending balance |  | $ | 17,482 |  |  | $ | 8,875 |  |  | $ | 1,497 |  |  | $ | 27,854 |
No goodwill or intangibles have been assigned to the Corporate operating segment. Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. The Company assesses goodwill for impairment at its reporting units that contain goodwill, Banking and Factoring. At the measurement date, these reporting units had positive equity and the Company elected to perform qualitative assessments to determine if it was more likely than not that the fair value of the reporting units exceeded their carrying values, including goodwill. The qualitative assessment indicated that it was more likely than not that the fair value of the reporting unit exceeded its carrying value, resulting in no impairment. After performing an impairment test comparing the carrying value of intangible assets to the fair value of intangible assets, it was determined that the carrying amount of core deposit intangibles related to public funds assigned to the Banking segment exceeded the fair value of these core deposit intangibles, resulting in an impairment charge of $1,276,000 for the year ended December 31, 2017. The impairment charge was recorded as amortization expense in the consolidated statements of income. The impairment of the core deposit intangibles was a result of the decline in public funds deposit balances caused by the Company’s intentional decision to reduce its reliance on the use of public funds. There were no impairment charges for the years ended December 31, 2016 and 2015. Generally, acquired intangible assets are being amortized utilizing an accelerated method over their estimated useful lives, which range from 8 to 10 years. The future amortization schedule for the Company’s intangible assets is as follows:
(Dollars in thousands) |  |  |  |
2018 |  | $ | 4,296 |
2019 |  |  | 3,735 |
2020 |  |  | 3,178 |
2021 |  |  | 2,617 |
2022 |  |  | 2,059 |
Thereafter |  |  | 3,767 |
|  | $ | 19,652 |

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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