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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2012
OTHER INTANGIBLE ASSETS  
Schedule of changes in other intangible assets

 

 

 

 

Core

 

Mortgage

 

 

 

 

 

 

 

 

 

Deposit

 

Servicing

 

Customer

 

Non-compete

 

 

 

 

 

Premium

 

Rights

 

Relationships

 

Agreements

 

Total

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of December 31, 2010

 

$

20,727

 

$

22,712

 

$

1,050

 

$

150

 

$

44,639

 

Additions

 

 

4,380

 

 

 

4,380

 

Amortization

 

(2,674

)

(4,159

)

(140

)

(60

)

(7,033

)

Balance as of December 31, 2011

 

$

18,053

 

$

22,933

 

$

910

 

$

90

 

$

41,986

 

Additions

 

 

5,692

 

 

 

5,692

 

Amortization

 

(2,675

)

(6,504

)

(58

)

(25

)

(9,262

)

Impairment charges

 

 

 

(852

)

(65

)

(917

)

Balance as of December 31, 2012

 

$

15,378

 

$

22,121

 

$

 

$

 

$

37,499

 

Schedule of gross carrying value, accumulated amortization and net carrying value related to intangible assets

 

 

 

 

December 31, 2012

 

December 31, 2011

 

 

 

Gross

 

 

 

Net

 

Gross

 

 

 

Net

 

 

 

Carrying

 

Accumulated

 

Carrying

 

Carrying

 

Accumulated

 

Carrying

 

 

 

Value

 

Amortization

 

Value

 

Value

 

Amortization

 

Value

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Core deposit premium

 

$

44,642

 

$

(29,264

)

$

15,378

 

$

44,642

 

$

(26,589

)

$

18,053

 

Mortgage servicing rights

 

51,739

 

(29,618

)

22,121

 

46,047

 

(23,114

)

22,933

 

Customer relationships

 

1,400

 

(1,400

)

 

1,400

 

(490

)

910

 

Non-compete agreements

 

300

 

(300

)

 

300

 

(210

)

90

 

Total

 

$

98,081

 

$

(60,582

)

$

37,499

 

$

92,389

 

$

(50,403

)

$

41,986

 

Schedule of estimated amortization expense

 

 

 

 

Estimated Amortization Expense

 

 

 

 

 

Mortgage

 

 

 

 

 

Core Deposit

 

Servicing

 

 

 

 

 

Premium

 

Rights

 

Total

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

2013

 

$

2,674

 

$

6,290

 

$

8,964

 

2014

 

2,674

 

5,532

 

8,206

 

2015

 

2,674

 

4,940

 

7,614

 

2016

 

2,674

 

4,426

 

7,100

 

2017

 

2,674

 

933

 

3,607

 

Thereafter

 

2,008

 

 

2,008

 

Total

 

$

15,378

 

$

22,121

 

$

37,499

 

Schedule of fair market value and key assumptions used in determining the fair market value of our mortgage servicing rights

 

 

 

 

Year Ended December 31,

 

 

 

2012

 

2011

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

Fair market value, beginning of period

 

$

23,149

 

$

23,709

 

Fair market value, end of period

 

22,356

 

23,149

 

Weighted average discount rate

 

8.0

%

8.5

%

Weighted average prepayment speed assumption

 

14.0

 

14.7