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Goodwill and Other Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2017
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, 2017 were as follows:
(Dollars in thousands)
Banking
 
Wealth Management
 
Insurance
 
Consolidated
Balance at December 31, 2016
$
138,476

 
$
15,434

 
$
18,649

 
$
172,559

Addition to goodwill from acquisitions

 

 

 

Balance at June 30, 2017
$
138,476

 
$
15,434

 
$
18,649

 
$
172,559

Components of Intangible Assets
The following table reflects the components of intangible assets at the dates indicated:
 
At June 30, 2017
 
At December 31, 2016
(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:
 
 
 
 
 
 
 
 
 
 
 
Covenants not to compete
$
710

 
$
409

 
$
301

 
$
710

 
$
205

 
$
505

Core deposit intangibles
6,788

 
1,593

 
5,195

 
6,788

 
1,004

 
5,784

Customer related intangibles
12,381

 
9,190

 
3,191

 
12,381

 
8,504

 
3,877

Servicing rights
15,099

 
8,551

 
6,548

 
14,369

 
7,884

 
6,485

Total amortized intangible assets
$
34,978

 
$
19,743

 
$
15,235

 
$
34,248

 
$
17,597

 
$
16,651

Estimated Aggregate Amortization Expense
The estimated aggregate amortization expense for covenants not to compete and core deposit and customer related intangibles for the remainder of 2017 and the succeeding fiscal years is as follows:
Year
(Dollars in thousands)
Amount
Remainder of 2017
 
$
1,350

2018
 
2,114

2019
 
1,565

2020
 
1,200

2021
 
924

Thereafter
 
1,534

The estimated amortization expense of servicing rights for the remainder of 2017 and the succeeding fiscal years is as follows:
Year
(Dollars in thousands)
Amount
Remainder of 2017
 
$
955

2018
 
833

2019
 
722

2020
 
624

2021
 
538

Thereafter
 
2,876

Changes in Mortgage Servicing Rights
Changes in the servicing rights balance are summarized as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(Dollars in thousands)
2017
 
2016
 
2017
 
2016
Beginning of period
$
6,502

 
$
5,839

 
$
6,485

 
$
5,877

Servicing rights capitalized
387

 
466

 
730

 
777

Amortization of servicing rights
(341
)
 
(409
)
 
(667
)
 
(758
)
Changes in valuation allowance

 

 

 

End of period
$
6,548

 
$
5,896

 
$
6,548

 
$
5,896

Residential mortgage and SBA loans serviced for others
$
984,846

 
$
889,639

 
$
984,846

 
$
889,639