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OTHER INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2012
Other Intangible Assets [Abstract] |
Other Intangible Assets [Text Block] | 8. OTHER INTANGIBLE ASSETS Other intangible assets include a core deposit premium, mortgage servicing rights, customer relationships and non-compete agreements. The following table presents changes in other intangible assets for the three months ended March 31, 2012:
| Core |  |  | Mortgage |  |  |  |  |  |  |  |  |  |
| Deposit |  |  | Servicing |  |  | Customer |  |  | Non-Compete |  |  |  |
| Premium |  |  | Rights |  |  | Relationships |  |  | Agreements |  |  | Total |
| (Dollars in thousands) |
Balance, beginning of period | $ | 18,053 |  |  | $ | 22,933 |  |  | $ | 910 |  |  | $ | 90 |  |  | $ | 41,986 |
Additions |  | - |  |  |  | 1,219 |  |  |  | - |  |  |  | - |  |  |  | 1,219 |
Amortization |  | (669 | ) |  |  | (1,042 | ) |  |  | (35 | ) |  |  | (15 | ) |  |  | (1,761 | )
Balance, end of period | $ | 17,384 |  |  | $ | 23,110 |  |  | $ | 875 |  |  | $ | 75 |  |  | $ | 41,444 |
Income generated as the result of new mortgage servicing rights is reported as gains on sales of loans and totaled $1.2 million and $1.4 million for the three months ended March 31, 2012 and 2011, respectively. Amortization of mortgage servicing rights was $1.0 million and $0.8 million for the three months ended March 31, 2012 and 2011, respectively. The following table presents the fair market value and key assumptions used in determining the fair market value of our mortgage servicing rights:
| Three Months Ended March 31,
| 2012 |  | 2011
| (Dollars in thousands)
Fair market value, beginning of period | $ | 23,149 |  |  | $ | 23,709 |
Fair market value, end of period |  | 23,275 |  |  |  | 24,316 |
Weighted average discount rate |  | 8.5 | % |  |  | 8.5 | %
Weighted average prepayment speed assumption |  | 14.0 |  |  |  | 14.2 |
The gross carrying value and accumulated amortization related to our intangible assets are presented below:
| March 31, 2012 |  |  | December 31, 2011
| Gross |  |  |  |  |  |  |  |  | Gross |  |  |  |  |  |
| Carrying |  |  | Accumulated |  |  |  |  |  | Carrying |  |  | Accumulated |  |  |
| Value |  |  | Amortization |  |  | Net |  |  | Value |  |  | Amortization |  |  | Net
| (Dollars in thousands)
Core deposit premium | $ | 44,642 |  |  | $ | (27,258 | ) |  | $ | 17,384 |  |  | $ | 44,642 |  |  | $ | (26,589 | ) |  | $ | 18,053
Mortgage servicing rights |  | 47,266 |  |  |  | (24,156 | ) |  |  | 23,110 |  |  |  | 46,047 |  |  |  | (23,114 | ) |  |  | 22,933
Customer relationships |  | 1,400 |  |  |  | (525 | ) |  |  | 875 |  |  |  | 1,400 |  |  |  | (490 | ) |  |  | 910
Non-compete agreements |  | 300 |  |  |  | (225 | ) |  |  | 75 |  |  |  | 300 |  |  |  | (210 | ) |  |  | 90
| $ | 93,608 |  |  | $ | (52,164 | ) |  | $ | 41,444 |  |  | $ | 92,389 |  |  | $ | (50,403 | ) |  | $ | 41,986
Based on the core deposit premium, mortgage servicing rights, customer relationships and non-compete agreements held as of March 31, 2012, estimated amortization expense for the remainder of fiscal 2012, the next five succeeding fiscal years and all years thereafter are as follows:
| Estimated Amortization Expense
|  |  |  | Mortgage |  |  |  |  |  |  |  |  |
| Core Deposit |  |  | Servicing |  |  | Customer |  |  | Non-Compete |  |  |
| Premium |  |  | Rights |  |  | Relationships |  |  | Agreements |  |  | Total
| (Dollars in thousands)
2012 (remainder) | $ | 2,006 |  |  | $ | 3,558 |  |  | $ | 105 |  |  | $ | 45 |  |  | $ | 5,714
2013 |  | 2,674 |  |  |  | 4,140 |  |  |  | 140 |  |  |  | 30 |  |  |  | 6,984
2014 |  | 2,674 |  |  |  | 3,560 |  |  |  | 140 |  |  |  | - |  |  |  | 6,374
2015 |  | 2,674 |  |  |  | 2,990 |  |  |  | 140 |  |  |  | - |  |  |  | 5,804
2016 |  | 2,674 |  |  |  | 2,448 |  |  |  | 140 |  |  |  | - |  |  |  | 5,262
2017 |  | 2,674 |  |  |  | 1,983 |  |  |  | 140 |  |  |  | - |  |  |  | 4,797
Thereafter |  | 2,008 |  |  |  | 4,431 |  |  |  | 70 |  |  |  | - |  |  |  | 6,509
| $ | 17,384 |  |  | $ | 23,110 |  |  | $ | 875 |  |  | $ | 75 |  |  | $ | 41,444
We perform an impairment assessment of our other intangible assets whenever events or changes in circumstance indicate that the carrying value of those assets may not be recoverable. Our impairment assessments involve, among other valuation methods, the estimation of future cash flows and other methods of determining fair value. Estimating future cash flows and determining fair values is subject to judgment and often involves the use of significant estimates and assumptions. The variability of the factors we use to perform our impairment tests depend on a number of conditions, including the uncertainty about future events and cash flows. All such factors are interdependent and, therefore, do not change in isolation. Accordingly, our accounting estimates may materially change from period to period due to changing market factors.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 44, 45, 46 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16265-109275 + Details
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