Goodwill and Other Intangible Assets

The Corporation has core deposit and customer-related intangibles and servicing rights, which are not deemed to have an indefinite life and therefore will continue to be amortized over their useful life using the present value of projected cash flows. The Corporation also has goodwill which is deemed to be an indefinite intangible asset and is not amortized.

Changes in the carrying amount of the Corporation's goodwill by business segment for the three months ended March 31, 2019 were as follows:



(Dollars in thousands)	Banking		Wealth Management		Insurance		Consolidated
Balance at December 31, 2018	$	138,476	$	15,434	$	18,649	$	172,559
Addition to goodwill from acquisitions	—		—		—		—
Balance at March 31, 2019	$	138,476	$	15,434	$	18,649	$	172,559

The following table reflects the components of intangible assets at the dates indicated:



	At March 31, 2019						At December 31, 2018
(Dollars in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets:
Covenants not to compete	$	—	$	—	$	—	$	710	$	710	$	—
Core deposit intangibles	6,788		3,376		3,412		6,788		3,143		3,645
Customer related intangibles	8,819		7,426		1,393		12,381		10,804		1,577
Servicing rights	17,639		10,914		6,725		17,314		10,546		6,768
Total amortized intangible assets	$	33,246	$	21,716	$	11,530	$	37,193	$	25,203	$	11,990

The estimated aggregate amortization expense for core deposit and customer-related intangibles for the remainder of 2019 and the succeeding fiscal years is as follows:



Year	(Dollars in thousands)	Amount
Remainder of 2019		$	1,148
2020		1,200
2021		923
2022		666
2023		409
Thereafter		459

The Corporation has originated mortgage servicing rights, which are included in other intangible assets on the consolidated balance sheet. Mortgage servicing rights are amortized in proportion to, and over the period of, estimated net servicing income on a basis similar to the interest method and an accelerated amortization method for loan payoffs. Mortgage servicing rights are subject to impairment testing on a quarterly basis. The aggregate fair value of these rights was $10.3 million at March 31, 2019 and $11.5 million at December 31, 2018. The fair value of mortgage servicing rights was determined using a discount rate of 10.0% at March 31, 2019 and December 31, 2018. The Corporation also records servicing rights on small business administration (SBA) loans. The value of these servicing rights was $62 thousand and $42 thousand at March 31, 2019 and December 31, 2018, respectively.

Changes in the servicing rights balance are summarized as follows:



	Three Months Ended March 31,
(Dollars in thousands)	2019			2018
Beginning of period	$	6,768		$	6,573
Servicing rights capitalized	266			337
Amortization of servicing rights	(309		)	(305		)
End of period	$	6,725		$	6,605
Residential mortgage and SBA loans serviced for others	$	1,037,948		$	1,012,677

The estimated amortization expense of servicing rights for the remainder of 2019 and the succeeding fiscal years is as follows:



Year	(Dollars in thousands)	Amount
Remainder of 2019		$	1,017
2020		883
2021		759
2022		650
2023		555
Thereafter		2,861