Goodwill and Other Intangibles

9 Months Ended

Sep. 30, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

6. Goodwill and Other Intangibles

Changes in the carrying amount of goodwill for the periods ended September 30, 2022 and December 31, 2021 by reportable segment are as follows (in thousands):

	Commercial Banking		Institutional Banking		Personal Banking			Total
Balances as of January 1, 2022	$	59,419	$	51,332	$	63,767		$	174,518
Branch acquisition		3,694		—		4,013			7,707
Balances as of September 30, 2022	$	63,113	$	51,332	$	67,780		$	182,225


Balances as of January 1, 2021	$	59,419	$	51,332	$	70,116		$	180,867
Sale of component of business segment		—		—		(6,349	)		(6,349	)
Balances as of December 31, 2021	$	59,419	$	51,332	$	63,767		$	174,518

The following table lists the finite-lived intangible assets that continue to be subject to amortization as of September 30, 2022 and December 31, 2021 (in thousands):

	As of September 30, 2022
	Core Deposit Intangible Assets		Customer Relationships		Total
Gross carrying amount	$	52,404	$	71,167	$	123,571
Accumulated amortization		50,361		59,837		110,198
Net carrying amount	$	2,043	$	11,330	$	13,373

	As of December 31, 2021
	Core Deposit Intangible Assets		Customer Relationships		Total
Gross carrying amount	$	50,059	$	71,167	$	121,226
Accumulated amortization		49,623		57,187		106,810
Net carrying amount	$	436	$	13,980	$	14,416

On March 28, 2022, the Company acquired a bank branch. Included in the branch acquisition were $43.0 million in loans and $226.8 million of deposits. The purchase resulted in recognition of $7.7 million of goodwill and a $2.3 million core deposit intangible asset.

On March 31, 2021, the Company sold its membership interests in its Prairie Capital Management, LLC and UMB Merchant Banc, LLC subsidiaries, a component of its Personal Banking segment. The sale included disposition of $6.3 million of goodwill and $1.9 million of net unamortized customer relationship intangibles.

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Aggregate amortization expense	$	1,092	$	1,110	$	3,388	$	3,647

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

For the three months ending December 31, 2022	$	1,091
For the year ending December 31, 2023		3,899
For the year ending December 31, 2024		3,169
For the year ending December 31, 2025		2,962
For the year ending December 31, 2026		2,103