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Goodwill, Core Deposit Intangible and Other Intangible Assets
12 Months Ended
Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill, Core Deposit Intangible and Other Intangible Assets

Note 10—Goodwill, Core Deposit Intangible and Other Intangible Assets

The Company’s annual goodwill test was performed as of November 30, 2019. The Company determined that no impairment existed as of that date. Refer to Note 1—Business and Summary of Significant Accounting Policies for discussion of goodwill.

The following table summarizes the changes in the Company’s goodwill and core deposit intangible assets for the years ended December 31, 2019, 2018, and 2017:

 

 

 

2019

 

 

2018

 

 

2017

 

 

 

Goodwill

 

 

Core Deposit

Intangible

 

 

Customer

Relationship

Intangible

 

 

Goodwill

 

 

Core Deposit

Intangible

 

 

Customer

Relationship

Intangible

 

 

Goodwill

 

 

Core Deposit

Intangible

 

 

Customer

Relationship

Intangible

 

Beginning balance

 

$

128,177

 

 

$

30,360

 

 

$

3,059

 

 

$

54,562

 

 

$

16,720

 

 

$

 

 

$

51,975

 

 

$

19,776

 

 

$

 

Additions

 

 

20,176

 

 

 

6,220

 

 

 

 

 

 

73,615

 

 

 

19,060

 

 

 

3,216

 

 

 

2,587

 

 

 

 

 

 

 

Amortization or accretion

 

 

 

 

 

(7,469

)

 

 

(268

)

 

 

 

 

 

(5,420

)

 

 

(157

)

 

 

 

 

 

(3,056

)

 

 

 

Ending balance

 

$

148,353

 

 

$

29,111

 

 

$

2,791

 

 

$

128,177

 

 

$

30,360

 

 

$

3,059

 

 

$

54,562

 

 

$

16,720

 

 

$

 

Accumulated amortization or accretion

 

N/A

 

 

$

26,355

 

 

$

425

 

 

N/A

 

 

$

18,886

 

 

$

157

 

 

N/A

 

 

$

13,466

 

 

N/A

 

Weighted average remaining amortization

   or accretion period

 

N/A

 

 

6.5 Years

 

 

10.4 Years

 

 

N/A

 

 

6.8 Years

 

 

11.4 Years

 

 

N/A

 

 

5.6 Years

 

 

N/A

 

Note 10—Goodwill, Core Deposit Intangible and Other Intangible Assets (continued)

During 2019, the Company added additional goodwill and core deposit intangible assets in conjunction with the Oak Park River Forest acquisition. During 2018, the Company added additional goodwill, core deposit intangible assets, and customer relationship intangible assets in conjunction with the First Evanston acquisition. Please refer to Note 3—Acquisition of a Business for further details. The increase in goodwill for the year ended December 31, 2017 resulted from the Company’s acquisition of Ridgestone Financial Services, Inc. (“Ridgestone”) during 2016.

Additionally, the Company had other intangible assets of $36,000 as of December 31, 2017, associated with trademark‑related transactions. The other intangible assets were fully amortized in 2018 resulting in no remaining balance as of December 31, 2019 and 2018.

The following table presents the estimated amortization expense for core deposit intangible and other intangible assets recognized at December 31, 2019:

 

 

 

Estimated

Amortization

 

2020

 

$

7,577

 

2021

 

 

7,012

 

2022

 

 

6,440

 

2023

 

 

4,336

 

2024

 

 

2,286

 

Thereafter

 

 

4,251

 

Total

 

$

31,902