GOODWILL AND OTHER INTANGIBLES (Tables)
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6 Months Ended |
Jun. 30, 2021 |
Goodwill And Intangible Assets Disclosure [Abstract] |
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Schedule of Goodwill [Table Text Block] |
| | Mortgage Banking | | Consumer (Retail) Banking | | Commercial and Corporate Banking | | United States Operations | | Total | (In thousands) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Goodwill, January 1, 2020 | $ | - | | $ | - | | $ | - | | $ | 28,098 | | $ | 28,098 | | Merger and acquisitions | | 574 | | | 794 | | | 4,935 | | | - | | | 6,303 | | Adjustments | | 385 | | | 533 | | | 3,313 | | | - | | | 4,231 | Goodwill, December 31, 2020 | $ | 959 | | $ | 1,327 | | $ | 8,248 | | $ | 28,098 | | $ | 38,632 | | Adjustments | | 53 | | | 74 | | | (148) | | | - | | | (21) | Goodwill, June 30, 2021 | $ | 1,012 | | $ | 1,401 | | $ | 8,100 | | $ | 28,098 | | $ | 38,611 | | | | | | | | | | | | | | | | |
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Gross Amount and Accumulated Amortization of Other Intangible Assets [Table Text Block] |
The following table shows the gross amount and accumulated amortization of the Corporation’s intangible assets as of the indicated dates: | | | As of | | As of | | | | June 30, | | December 31, | | | | 2021 | | 2020 | (Dollars in thousands) | | | | | | Core deposit intangible: | | | | | | | Gross amount | $ | 87,544 | | $ | 87,096 | | Accumulated amortization (1) | | (55,128) | | | (51,254) | | Net carrying amount | $ | 32,416 | | $ | 35,842 | | | | | | | | | Remaining amortization period (in years) | | 8.5 | | | 9.0 | | | | | | | | | Purchased credit card relationship intangible: | | | | | | | Gross amount | $ | 28,265 | | $ | 28,265 | | Accumulated amortization (2) | | (25,410) | | | (23,532) | | Net carrying amount | $ | 2,855 | | $ | 4,733 | | | | | | | | | Remaining amortization period (in years) | | 2.2 | | | 2.7 | | | | | | | | | Insurance customer relationship intangible: | | | | | | | Gross amount | $ | 1,067 | | $ | 1,067 | | Accumulated amortization (3) | | (826) | | | (749) | | Net carrying amount | $ | 241 | | $ | 318 | | | | | | | | | Remaining amortization period (in years) | | 1.6 | | | 2.1 | | | | | | | | | (1) | For the quarter and six-month period ended June 30, 2021, the amortization expense of core deposit intangibles amounted to $1.9 million and $3.9 million, respectively (2020 - $0.2 million and $0.4 million, respectively). | | | | | | | | | (2) | For the quarter and six-month period ended June 30, 2021, the amortization expense of the purchased credit card relationship intangible asset amounted asset to $0.9 million and $1.9 million, respectively (2020 - $0.5 million and $0.9 million, respectively). | | | | | | | | | (3) | For the quarter and six-month period ended June 30, 2021, the amortization expense of the insurance customer relationship intangible asset amounted to $38 thousand and $76 thousand, respectively (2020 - $38 thousand and $76 thousand, respectively). |
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Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] |
The estimated aggregate annual amortization expense related to the intangible assets for future periods is as follows as of June 30, 2021: | | | | | | | | | Amount | | | | | (In thousands) | | | 2021 | $ | 5,577 | | | 2022 | | 8,816 | | | 2023 | | 7,736 | | | 2024 | | 6,416 | | | 2025 | | 3,509 | | | 2026 and after | | 3,458 | | | | | | |
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