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Goodwill and Other Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Changes in Carrying Amount of Goodwill
Changes in the carrying amount of the Corporation's goodwill by business segment for the six months ended June 30, 2015 were as follows:
(Dollars in thousands)
Banking
 
Wealth Management
 
Insurance
 
Consolidated
Balance at December 31, 2014
$
35,058

 
$
15,434

 
$
17,225

 
$
67,717

Addition to goodwill from acquisitions
43,377

 

 
1,424

 
44,801

Balance at June 30, 2015
$
78,435

 
$
15,434

 
$
18,649

 
$
112,518

Components of Intangible Assets
The following table reflects the components of intangible assets at the dates indicated:
 
At June 30, 2015
 
At December 31, 2014
(Dollars in thousands)
Gross Carrying Amount
 
Accumulated Amortization and Fair Value Adjustments
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization and Fair Value Adjustments
 
Net Carrying Amount
Amortized intangible assets:
 
 
 
 
 
 
 
 
 
 
 
Core deposit intangibles
$
1,520

 
$
138

 
$
1,382

 
$

 
$

 
$

Customer related intangibles
14,227

 
7,758

 
6,469

 
13,397

 
6,726

 
6,671

Mortgage servicing rights
11,440

 
5,744

 
5,696

 
10,559

 
5,050

 
5,509

Total amortized intangible assets
$
27,187

 
$
13,640

 
$
13,547

 
$
23,956

 
$
11,776

 
$
12,180

Estimated Aggregate Amortization Expense
The estimated aggregate amortization expense for core deposit and customer related intangibles for the remainder of 2015 and the succeeding fiscal years is as follows:
Year
(Dollars in thousands)
Amount
Remainder of 2015
 
$
1,108

2016
 
1,872

2017
 
1,544

2018
 
1,170

2019
 
846

Thereafter
 
1,311

The estimated amortization expense of mortgage servicing rights for the remainder of 2015 and the succeeding fiscal years is as follows:
Year
(Dollars in thousands)
Amount
Remainder of 2015
 
$
430

2016
 
804

2017
 
695

2018
 
597

2019
 
511

Thereafter
 
2,659

Changes in Mortgage Servicing Rights
Changes in the mortgage servicing rights balance are summarized as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(Dollars in thousands)
2015
 
2014
 
2015
 
2014
Beginning of period
$
5,523

 
$
5,406

 
$
5,509

 
$
5,519

Servicing rights capitalized
499

 
236

 
881

 
359

Amortization of servicing rights
(326
)
 
(264
)
 
(694
)
 
(507
)
Changes in valuation allowance

 

 

 
7

End of period
$
5,696

 
$
5,378

 
$
5,696

 
$
5,378

Mortgage loans serviced for others
$
832,318

 
$
761,413

 
$
832,318

 
$
761,413

Activity in Valuation Allowance for Mortgage Servicing Rights
Activity in the valuation allowance for mortgage servicing rights was as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(Dollars in thousands)
2015
 
2014
 
2015
 
2014
Valuation allowance, beginning of period
$

 
$
(243
)
 
$

 
$
(250
)
Additions

 

 

 

Reductions

 

 

 
7

Direct write-downs

 

 

 

Valuation allowance, end of period
$

 
$
(243
)
 
$

 
$
(243
)