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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Note 11 – Goodwill and Intangible Assets On March 26, 2019, the Salin acquisition resulted in goodwill of $31.2 million. On October 17 , 2017 , the Wolverine acquisition resulted in goodwill of $ 26.8 million. On September 1 , 2017 , the Lafayette acquisition resulted in goodwill of $ 15.4 million. No impairment loss was recorded in 2019 or 2018. The Company tested goodwill for impairment during 2019 and 2018. In both valuations, the fair value exceeded the Company’s carrying value, therefore, it was concluded goodwill is not impaired. For additional details related to impairment testing, see the “Goodwill and Intangible Assets” section of “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included as Item 7 of this Annual Report on Form 10K.
|  | December 31 |  |  | December 31 |
|  | 2019 |  |  | 2018 |
Balance, January 1 |  | $ | 119,880 |  |  | $ | 119,880 |
Goodwill acquired |  |  | 31,358 |  |  |  | — |
Balance, December 31 |  | $ | 151,238 |  |  | $ | 119,880 |
As a result of the acquisition of American Trust & Savings Bank in 2010; Heartland in 2012; Summit in 2014; Peoples in 2015; Kosciusko, LaPorte and CNB in 2016; Lafayette and Wolverine in 2017; and Salin in 2019; the Company has recorded certain amortizable intangible assets related to core deposit intangibles. These core deposit intangibles are being amortized over seven to ten years using an accelerated method. Amortizable intangible assets are summarized as follows:
|  | December 31, 2019 |  |  | December 31, 2018 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |
Amortizable intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Core deposit intangible |  | $ | 40,590 |  |  | $ | (13,911 | ) |  | $ | 20,711 |  |  | $ | (10,321 | )
Amortization expense for inta n gible assets totaled $3.5 million, $2.0 million, and $1.5 million for the years ended December 31, 2019, 2018 and 2017. Estimated amortization for the years ending December 31 is as follows :
2020 |  | $ | 3,723 |
2021 |  |  | 3,591 |
2022 |  |  | 3,516 |
2023 |  |  | 3,430 |
2024 |  |  | 3,225 |
Thereafter |  |  | 9,194 |
|  | $ | 26,679 |

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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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