Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2023

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 nine months ended September 30, 2023 were as follows:

(Dollars in thousands)	Banking		Wealth Management		Insurance		Consolidated
Balance at December 31, 2022	$	138,476	$	15,434	$	21,600	$	175,510
Addition to goodwill from acquisitions	—		—		—		—
Balance at September 30, 2023	$	138,476	$	15,434	$	21,600	$	175,510

Components of Intangible Assets

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

	At September 30, 2023						At December 31, 2022
(Dollars in thousands)	Gross Carrying Amount		Accumulated Amortization (1)		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization (1)		Net Carrying Amount
Amortized intangible assets:
Core deposit intangibles	$	6,788	$	6,244	$	544	$	6,788	$	5,939	$	849
Customer related intangibles	4,162		2,548		1,614		8,493		6,530		1,963
Servicing rights	30,360		21,439		8,921		28,904		20,332		8,572
Total amortized intangible assets	$	41,310	$	30,231	$	11,079	$	44,185	$	32,801	$	11,384

(1) Included within accumulated amortization is a valuation allowance of $12 thousand and $5 thousand on servicing rights at September 30, 2023 and December 31, 2022, respectively.

Estimated Aggregate Amortization Expense

The estimated aggregate amortization expense for core deposit and customer-related intangibles for the remainder of 2023 and the succeeding fiscal years is as follows:

Year	(Dollars in thousands)	Amount
Remainder of 2023		$	190
2024		648
2025		469
2026		319
2027		216
Thereafter		316
Total		$	2,158

Changes In Servicing Rights

Changes in the servicing rights balance are summarized as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2023		2022		2023		2022
Beginning of period	$	8,568	$	8,372	$	8,572	$	7,878
Servicing rights capitalized	707		578		1,456		1,969
Amortization of servicing rights	(350)		(383)		(1,100)		(1,290)
Changes in valuation allowance	(4)		2		(7)		12
End of period	$	8,921	$	8,569	$	8,921	$	8,569
Loans serviced for others	$	1,568,817	$	1,484,738	$	1,568,817	$	1,484,738

Activity In Valuation Allowance For Servicing Rights

Activity in the valuation allowance for servicing rights was as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2023		2022		2023		2022
Valuation allowance, beginning of period	$	(8)	$	(3)	$	(5)	$	(13)
Additions	(4)		—		(7)		—
Reductions	—		2		—		12
Valuation allowance, end of period	$	(12)	$	(1)	$	(12)	$	(1)

Estimated Amortization Expense of Servicing Rights

The estimated amortization expense of servicing rights for the remainder of 2023 and the succeeding fiscal years is as follows:

Year	(Dollars in thousands)	Amount
Remainder of 2023		$	1,042
2024		943
2025		850
2026		765
2027		687
Thereafter		4,634
Total		$	8,921