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Goodwill and Other Intangibles (Tables)
3 Months Ended
Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill for the periods ended March 31, 2020 and December 31, 2019 by reportable segment are as follows (in thousands):

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Balances as of January 1, 2020

 

$

59,419

 

 

$

51,332

 

 

$

70,116

 

 

$

180,867

 

Balances as of March 31, 2020

 

$

59,419

 

 

$

51,332

 

 

$

70,116

 

 

$

180,867

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances as of January 1, 2019

 

$

59,419

 

 

$

51,332

 

 

$

70,116

 

 

$

180,867

 

Balances as of December 31, 2019

 

$

59,419

 

 

$

51,332

 

 

$

70,116

 

 

$

180,867

 

 

Changes in Intangible Assets

The following table lists the finite-lived intangible assets that continue to be subject to amortization as of March 31, 2020 and December 31, 2019 (in thousands):

 

 

 

As of March 31, 2020

 

 

 

Core Deposit

Intangible

Assets

 

 

Customer Relationships

 

 

Total

 

Gross carrying amount

 

$

50,059

 

 

$

89,928

 

 

$

139,987

 

Accumulated amortization

 

 

47,607

 

 

 

66,541

 

 

 

114,148

 

Net carrying amount

 

$

2,452

 

 

$

23,387

 

 

$

25,839

 

 

 

 

As of December 31, 2019

 

 

 

Core Deposit

Intangible

Assets

 

 

Customer Relationships

 

 

Total

 

Gross carrying amount

 

$

50,059

 

 

$

89,952

 

 

$

140,011

 

Accumulated amortization

 

 

47,140

 

 

 

65,274

 

 

 

112,414

 

Net carrying amount

 

$

2,919

 

 

$

24,678

 

 

$

27,597

 

Aggregate Amortization Expense Recognized

The following table has the aggregate amortization expense recognized in each period (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2020

 

 

2019

 

Aggregate amortization expense

 

$

1,734

 

 

$

1,327

 

Estimated Amortization Expense of Intangible Assets

 

The following table lists estimated amortization expense of intangible assets in future periods (in thousands):

 

For the nine months ending December 31, 2020

 

$

4,678

 

For the year ending December 31, 2021

 

 

5,408

 

For the year ending December 31, 2022

 

 

4,468

 

For the year ending December 31, 2023

 

 

3,750

 

For the year ending December 31, 2024

 

 

2,965