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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill

The Company has goodwill from business combinations, intangible assets from branch acquisitions, identifiable intangible assets assigned to core deposit relationships and customer lists of business lines acquired. The following table presents gross carrying amount and accumulated amortization by major intangible asset class as of December 31, 2020 and 2019 (in thousands):

 

 

 

2020

 

 

2019

 

 

 

Gross

Carrying

 

 

Accumulated

 

 

Gross

Carrying

 

 

Accumulated

 

 

 

Value

 

 

Amortization

 

 

Value

 

 

Amortization

 

Goodwill not subject to amortization

 

$

108,752

 

 

$

3,760

 

 

$

108,752

 

 

$

3,760

 

Intangibles from branch acquisition

 

 

3,015

 

 

 

3,015

 

 

 

3,015

 

 

 

3,015

 

Core deposit intangibles

 

 

32,355

 

 

 

20,910

 

 

 

32,355

 

 

 

17,746

 

Customer list intangibles

 

 

16,389

 

 

 

5,222

 

 

 

16,129

 

 

 

3,917

 

 

 

$

160,511

 

 

$

32,907

 

 

$

160,251

 

 

$

28,438

 
Intangible Assets Mortgage Servicing Rights

The unpaid principal balance of mortgage loans serviced for others was $126.8 million and $186.2 million at December 31, 2020 and 2019, respectively. The following table summarizes the activity pertaining to the mortgage servicing rights included in intangible assets as of December 31, 2020 and 2019 (in thousands):

 

 

 

December 31,

2020

 

 

December 31,

2019

 

Beginning Balance

 

$

1,444

 

 

$

2,101

 

Acquired Balance

 

 

—

 

 

 

—

 

Mortgage Servicing rights capitalized

 

 

—

 

 

 

—

 

Valuation reserve

 

 

(273

)

 

 

(380

)

Mortgage Servicing rights amortized

 

 

(593

)

 

 

(411

)

I/O strip

 

 

(62

)

 

 

134

 

Ending Balance

 

$

516

 

 

$

1,444

 

 

 

 

 

 

 

 

 

 
Schedule of Intangible Assets Amortization Expense

Total amortization expense for the years ended December 31, 2020, 2019 and 2018 was as follows (in thousands):

 

 

 

2020

 

 

2019

 

 

2018

 

Core deposit intangibles

 

$

3,164

 

 

$

3,729

 

 

$

2,544

 

Customer list intangibles

 

 

1,305

 

 

 

1,269

 

 

 

363

 

Mortgage Servicing Rights

 

 

593

 

 

 

850

 

 

 

308

 

 

 

$

5,062

 

 

$

5,848

 

 

$

3,215

 
Schedule of Expected Amortization Expense

Estimated amortization expense for each of the five succeeding years is shown in the table below (in thousands):

 

For year ended 12/31/21

 

$

4,408

 

For year ended 12/31/22

 

 

3,526

 

For year ended 12/31/23

 

 

3,214

 

For year ended 12/31/24

 

 

2,946

 

For year ended 12/31/25

 

 

2,633