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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2018
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) |  | 2018 |  |  | 2017 |
Goodwill |  | $ | 158,743 |  |  | $ | 44,126 |
|  | December 31, 2018 |  |  | December 31, 2017 |
|  | Gross Carrying |  |  | Accumulated |  |  | Net Carrying |  |  | Gross Carrying |  |  | Accumulated |  |  | Net Carrying |
(Dollars in thousands) |  | Amount |  |  | Amortization |  |  | Amount |  |  | Amount |  |  | Amortization |  |  | Amount |
Core deposit intangibles |  | $ | 43,578 |  |  | $ | (16,266 | ) |  | $ | 27,312 |  |  | $ | 29,511 |  |  | $ | (11,335 | ) |  | $ | 18,176 |
Other intangible assets |  |  | 15,700 |  |  |  | (2,338 | ) |  |  | 13,362 |  |  |  | 1,764 |  |  |  | (288 | ) |  |  | 1,476 |
|  | $ | 59,278 |  |  | $ | (18,604 | ) |  | $ | 40,674 |  |  | $ | 31,275 |  |  | $ | (11,623 | ) |  | $ | 19,652 |
The changes in goodwill and intangible assets by operating segment during the year are as follows:
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2018 |  | Banking |  |  | Factoring |  |  | Corporate |  |  | Total |
Beginning balance |  | $ | 54,910 |  |  | $ | 8,868 |  |  | $ | — |  |  | $ | 63,778 |
Acquired goodwill |  |  | 72,075 |  |  |  | 42,975 |  |  |  | — |  |  |  | 115,050 |
Acquired intangibles |  |  | 14,069 |  |  |  | 13,933 |  |  |  | — |  |  |  | 28,002 |
Amortization of intangibles |  |  | (5,144 | ) |  |  | (1,836 | ) |  |  | — |  |  |  | (6,980 | )
Divestiture of intangibles |  |  | (433 | ) |  |  | — |  |  |  | — |  |  |  | (433 | )
Ending balance |  | $ | 135,477 |  |  | $ | 63,940 |  |  | $ | — |  |  | $ | 199,417 |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2017 |  | Banking |  |  | Factoring |  |  | Corporate |  |  | 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) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2016 |  | Banking |  |  | Factoring |  |  | Corporate |  |  | 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 |
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 during the years ended December 31, 2018 and 2016, it was determined that the fair value of the intangible assets exceeded their carrying amount and thus, no intangible asset impairment was recorded. During the year ended December 31, 2017, 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. Generally, material 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) |  |  |  |
2019 |  | $ | 9,131 |
2020 |  |  | 7,941 |
2021 |  |  | 6,670 |
2022 |  |  | 5,422 |
2023 |  |  | 4,236 |
Thereafter |  |  | 7,274 |
|  | $ | 40,674 |

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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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