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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS Goodwill and intangible assets consist of the following:
(Dollars in thousands) | December 31, 2021 |  | December 31, 2020
Goodwill | $ | 233,727 |  |  | $ | 163,209 |
| December 31, 2021 |  | December 31, 2020
(Dollars in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Core deposit intangibles | $ | 43,578 |  |  | $ | (31,800) |  |  | $ | 11,778 |  |  | $ | 43,578 |  |  | $ | (27,436) |  |  | $ | 16,142 |
Software intangible asset | 16,932 |  |  | (2,469) |  |  | 14,463 |  |  | — |  |  | — |  |  | — |
Other intangible assets | 29,560 |  |  | (12,672) |  |  | 16,888 |  |  | 19,200 |  |  | (8,629) |  |  | 10,571 |
| $ | 90,070 |  |  | $ | (46,941) |  |  | $ | 43,129 |  |  | $ | 62,778 |  |  | $ | (36,065) |  |  | $ | 26,713 |
The changes in goodwill and intangible assets by operating segment during the year are as follows:
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |
December 31, 2021 |  | Banking |  | Factoring |  | Payments |  | Corporate |  | Total
Beginning balance |  | $ | 123,882 |  |  | $ | 66,040 |  |  | $ | — |  |  | $ | — |  |  | $ | 189,922 |
Acquired goodwill |  | — |  |  | — |  |  | 73,697 |  |  | — |  |  | 73,697 |
Acquired goodwill - measurement period adjustment |  | — |  |  | 59 |  |  | (3,238) |  |  | — |  |  | (3,179) |
Acquired intangibles |  | — |  |  | — |  |  | 27,292 |  |  | — |  |  | 27,292 |
Amortization of intangibles |  | (4,576) |  |  | (2,824) |  |  | (3,476) |  |  | — |  |  | (10,876) |
Ending balance |  | $ | 119,306 |  |  | $ | 63,275 |  |  | $ | 94,275 |  |  | $ | — |  |  | $ | 276,856 |
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |
December 31, 2020 |  | Banking |  | Factoring |  | Payments |  | Corporate |  | Total
Beginning balance |  | $ | 129,272 |  |  | $ | 61,014 |  |  | $ | — |  |  | $ | — |  |  | $ | 190,286 |
Acquired goodwill |  | — |  |  | 4,466 |  |  | — |  |  | — |  |  | 4,466 |
Acquired intangibles |  | — |  |  | 3,500 |  |  | — |  |  | — |  |  | 3,500 |
Amortization of intangibles |  | (5,390) |  |  | (2,940) |  |  | — |  |  | — |  |  | (8,330) |
Ending balance |  | $ | 123,882 |  |  | $ | 66,040 |  |  | $ | — |  |  | $ | — |  |  | $ | 189,922 |
(Dollars in thousands) |  |  |  |  |  |  |  |
December 31, 2019 |  | Banking |  | Factoring |  | Corporate |  | Total
Beginning balance |  | $ | 135,477 |  |  | $ | 63,940 |  |  | $ | — |  |  | $ | 199,417 |
Amortization of intangibles |  | (6,205) |  |  | (2,926) |  |  | — |  |  | (9,131) |
Ending balance |  | $ | 129,272 |  |  | $ | 61,014 |  |  | $ | — |  |  | $ | 190,286 |
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, Factoring, and Payments. A goodwill impairment test was performed on the Company's reporting units as of October 1, 2021. 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, 2021, 2020 and 2019, it was determined that the fair value of the intangible assets exceeded their carrying amount and thus no intangible asset impairment was recorded. Generally, material acquired intangible assets are being amortized utilizing an accelerated method over their estimated useful lives, which range from 4 to 11 years. The future amortization schedule for the Company’s intangible assets is as follows:
(Dollars in thousands) |
2022 | $ | 11,922 |
2023 | 10,482 |
2024 | 9,159 |
2025 | 5,400 |
2026 | 2,480 |
Thereafter | 3,686 |
| $ | 43,129 |

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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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