XML 40 R29.htm IDEA: XBRL DOCUMENT v3.20.2
Goodwill and Other Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2020
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, 2020 were as follows:
(Dollars in thousands)BankingWealth ManagementInsuranceConsolidated
Balance at December 31, 2019$138,476  $15,434  $18,649  $172,559  
Addition to goodwill from acquisitions—  —  —  —  
Balance at June 30, 2020$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, 2020At December 31, 2019
(Dollars in thousands)Gross Carrying Amount
Accumulated Amortization (1)
Net Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Amortized intangible assets:
Core deposit intangibles$6,788  $4,431  $2,357  $6,788  $4,026  $2,762  
Customer related intangibles7,604  6,944  660  8,819  7,923  896  
Servicing rights20,521  14,440  6,081  19,160  12,534  6,626  
Total amortized intangible assets$34,913  $25,815  $9,098  $34,767  $24,483  $10,284  
Estimated Aggregate Amortization Expense
The estimated aggregate amortization expense for core deposit and customer-related intangibles for the remainder of 2020 and the succeeding fiscal years is as follows:
Year(Dollars in thousands)Amount
Remainder of 2020$559  
2021923  
2022666  
2023409  
2024267  
Thereafter193  
Changes In 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)2020201920202019
Beginning of period$6,440  $6,725  $6,626  $6,768  
Servicing rights capitalized835  321  1,361  587  
Amortization of servicing rights(911) (426) (1,568) (735) 
Changes in valuation allowance(283) (21) (338) (21) 
End of period$6,081  $6,599  $6,081  $6,599  
Loans serviced for others$1,113,819  $1,042,438  $1,113,819  $1,042,438  
Activity In Valuation Allowance For Mortgage Servicing Rights
Activity in the valuation allowance for mortgage servicing rights was as follows:
 Three Months Ended June 30,Six Months Ended June 30,
(Dollars in thousands)2020201920202019
Valuation allowance, beginning of period$(55) $—  $—  $—  
Additions(283) (21) (338) (21) 
Valuation allowance, end of period$(338) $(21) $(338) $(21) 
Estimated Amortization Expense of Servicing Rights
The estimated amortization expense of servicing rights for the remainder of 2020 and the succeeding fiscal years is as follows:
Year(Dollars in thousands)Amount
Remainder of 2020$1,683  
20211,255  
2022934  
2023692  
2024171  
Thereafter1,346