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.