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Basis of Presentation (Tables) | 6 Months Ended
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Jun. 30, 2019
Accounting Policies [Abstract] |
Schedule of Assets Acquired and Liabilities Assumed | We accounted for the acquisition of 5 Arches under the acquisition method of accounting pursuant to ASC 805. We performed the preliminary purchase price allocation and recorded underlying assets acquired and liabilities assumed based on their estimated fair values using the information available as of the acquisition date, with the excess of the purchase price allocated to goodwill. Through June 30, 2019, there have been no changes to our preliminary purchase price allocation, which is summarized in the following table. Table 2.1 – 5 Arches Purchase Price Allocation
(In Thousands) |  | March 1, 2019
Purchase price: |  |
Cash |  | $ | 12,575 |
Contingent consideration, at fair value |  | 24,621 |
Purchase option, at fair value |  | 5,082 |
Equity method investment, at fair value |  | 8,052 |
Total consideration |  | $ | 50,330 |
Allocated to: |  |
Tangible net assets acquired (1) |  | $ | 1,004 |
Goodwill |  | 28,728 |
Intangible assets |  | 24,800 |
Deferred tax liability |  | (4,202 | )
Total net assets acquired |  | $ | 50,330 |
(1) 5 Arches net assets acquired consisted of assets of $19 million and liabilities of $18 million as of March 1, 2019.
Schedule of Finite-Lived Intangible Assets | The amortization period for each of these assets and the activity for the period from March 1, 2019 to June 30, 2019 is summarized in the table below. Table 2.2 – Intangible Assets – Activity
(Dollars in Thousands) |  | Carrying Value at December 31, 2018 |  | Additions |  | Amortization Expense |  | Carrying Value at June 30, 2019 |  | Weighted Average Amortization Period (in years)
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |
Broker network |  | $ | — |  |  | $ | 18,100 |  |  | $ | (1,207 | ) |  | $ | 16,893 |  |  | 5
Non-compete agreements |  | — |  |  | 2,900 |  |  | (322 | ) |  | 2,578 |  |  | 3
Management fee on existing assets under management |  | — |  |  | 2,600 |  |  | (867 | ) |  | 1,733 |  |  | 1
Tradename |  | — |  |  | 1,200 |  |  | (133 | ) |  | 1,067 |  |  | 3
Total |  | $ | — |  |  | $ | 24,800 |  |  | $ | (2,529 | ) |  | $ | 22,271 |  |  | 4
Finite-lived Intangible Assets Amortization Expense | All of our intangible assets are amortized on a straight-line basis. Estimated amortization expense for the remainder of 2019 and the following years is summarized in the table below. Table 2.3 – Intangible Asset Amortization Expense by Year
(In Thousands) |  | June 30, 2019
2019 (6 months) |  | $ | 3,794 |
2020 |  | 5,420 |
2021 |  | 4,987 |
2022 |  | 3,848 |
2023 and thereafter |  | 4,222 |
Total Future Intangible Asset Amortization |  | $ | 22,271 |
Schedule of Goodwill | Goodwill – Activity
(In Thousands) |  | Six Months Ended June 30, 2019
Beginning balance |  | $ | — |
Goodwill recognized from 5 Arches acquisition |  | 28,728 |
Impairment |  | — |
Ending Balance |  | $ | 28,728 |
Pro Forma Information | Unaudited Pro Forma Financial Information
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(In Thousands) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Supplementary pro forma information: |  |  |  |  |  |  |  |
Net interest income |  | $ | 32,322 |  |  | $ | 35,099 |  |  | $ | 64,588 |  |  | $ | 70,430 |
Non-interest income |  | 27,532 |  |  | 21,321 |  |  | 71,282 |  |  | 62,404 |
Net income |  | 31,266 |  |  | 32,310 |  |  | 81,499 |  |  | 78,436 |

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