GOODWILL AND OTHER INTANGIBLES

12 Months Ended

Dec. 31, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

7. GOODWILL AND OTHER INTANGIBLES

Changes in the carrying amount of goodwill for the years ended December 31, 2022 and December 31, 2021 by operating 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
Healthcare savings account business acquisition		—		25,160		—			25,160
Branch acquisition		3,694		—		4,013			7,707
Balances as of December 31, 2022	$	63,113	$	76,492	$	67,780		$	207,385

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

Following are the intangible assets that continue to be subject to amortization as of December 31, 2022 and 2021 (in thousands):

	As of December 31, 2022
	Core Deposit Intangible Assets		Customer Relationships		Total
Gross carrying amount	$	16,661	$	114,978	$	131,639
Accumulated amortization		14,827		38,088		52,915
Net carrying amount	$	1,834	$	76,890	$	78,724

	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 November 18, 2022, the Company acquired a healthcare savings account business, which included $383.0 million of deposits. The purchase resulted in recognition of $25.2 million of goodwill and a $67.0 million customer relationship intangible asset.

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 PCM and UMB Merchant Banc, LLC subsidiaries, components 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.

Amortization expense for the years ended December 31, 2022, 2021, and 2020 was $5.0 million, $4.8 million, and $6.5 million, respectively.

The following table discloses the estimated amortization expense of intangible assets in future years (in thousands):

For the year ending December 31, 2023	$	8,366
For the year ending December 31, 2024		7,636
For the year ending December 31, 2025		7,429
For the year ending December 31, 2026		6,569
For the year ending December 31, 2027		4,597