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Goodwill And Other Intangible Assets | 12 Months Ended
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Dec. 31, 2016
Goodwill And Other Intangible Assets [Abstract] |
Goodwill And Other Intangible Assets | (7.) GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill Goodwill is not amortized but, instead, is subject to impairment tests on at least an annual basis, and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company performs its annual impairment test of goodwill as of September 30 of each year. See Note 1 for the Company's accounting policy for goodwill and other intangible assets. The results of the Company's 2016 annual impairment test indicated no impairment, consequently no goodwill impairment charge was recorded in 2016. Based on its 2015 qualitative assessment, the Company concluded it was more likely than not that the fair value of its SDN reporting unit was less than its carrying value. Accordingly, the Company performed a Step 1 review for possible goodwill impairment. Under Step 1 of the goodwill impairment review, the fair value of the SDN reporting unit was calculated using income and market-based approaches. Under Step 1, it was determined that the carrying value of our SDN reporting unit exceeded its fair value. For Step 2, the implied fair value of the SDN reporting unit's goodwill was compared with the carrying amount of the goodwill for the SDN reporting unit. Based on this assessment, the Company recorded a goodwill impairment charge related to the SDN reporting unit of $751 thousand during the quarter ended December 31, 2015. Declines in the market value of the Company's publicly traded stock price or declines in the Company's ability to generate future cash flows may increase the potential that goodwill recorded on the Company's consolidated statement of financial condition be designated as impaired and that the Company may incur a goodwill write-down in the future. The change in the balance for goodwill during the years ended December 31 was as follows (in thousands):
|  | Banking |  | Non-Banking |  |  | Total |
Balance, January 1, 2015 | $ | 48,536 | $ | 12,617 |  | $ | 61,153 |
Impairment |  | - |  | (751 | ) |  | (751 | )
Balance, December 31, 2015 |  | 48,536 |  | 11,866 |  |  | 60,402 |
Acquisition |  | - |  | 6,015 |  |  | 6,015 |
Balance, December 31, 2016 | $ | 48,536 | $ | 17,881 |  | $ | 66,417 |
Other Intangible Assets The Company has other intangible assets that are amortized, consisting of core deposit intangibles and other intangibles. Changes in the gross carrying amount, accumulated amortization and net book value for the years ended December 31 were as follows (in thousands):
|  | 2016 |  |  | 2015 |
Core deposit intangibles: |  |  |  |  |  |
Gross carrying amount | $ | 2,042 |  | $ | 2,042 |
Accumulated amortization |  | (1,464 | ) |  | (1,213 | )
Net book value | $ | 578 |  | $ | 829 |
Amortization during the year | $ | 251 |  | $ | 296 |
Other intangibles: |  |  |  |  |  |
Gross carrying amount | $ | 10,568 |  | $ | 6,640 |
Accumulated amortization |  | (1,923 | ) |  | (925 | )
Net book value | $ | 8,645 |  | $ | 5,715 |
Amortization during the year | $ | 998 |  | $ | 646 |
Core deposit intangible and other intangibles amortization expense was $341 thousand and $279 thousand, respectively, for the year ended December 31, 2014. Estimated amortization expense of other intangible assets for each of the next five years is as follows:
2017 | $ | 1,144
2018 |  | 1,035
2019 |  | 937
2020 |  | 840
2021 |  | 738

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + 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=26713463&loc=d3e16373-109275 Reference 2: 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=26713463&loc=d3e16265-109275 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=26713463&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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