Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

At December 31, 2021, there was no goodwill, as compared to goodwill of $2.7 million at December 31, 2020. Goodwill represents the excess of the total acquisition price paid over the fair value of the assets acquired, net of fair value of liabilities assumed. During the year ended December 31, 2020, the Company recorded a goodwill impairment of $1.8 billion based on the analysis of goodwill performed as of March 31, 2020. There was no activity for goodwill for the period ending December 31, 2019. The Company completed a qualitative and quantitative impairment analysis as of March 31, 2020, and recorded a goodwill impairment of $1.8 billion during the year ended December 31, 2020, related to the Wholesale Bank and Retail Bank reporting units. Goodwill of $2.7 million was removed with the sale of Umpqua Investments in April 2021.

The following table summarizes the change in the Company's goodwill for the years ended December 31, 2021 and 2020:


	Goodwill
(in thousands)	Gross		Accumulated Impairment		Total
Balance, December 31, 2019	$	1,900,727	$	(113,076)	$	1,787,651
Goodwill impairment	—		(1,784,936)		(1,784,936)
Balance, December 31, 2020	$	1,900,727	$	(1,898,012)	$	2,715
Disposal	(2,715)		—		(2,715)
Balance, December 31, 2021	$	1,898,012	$	(1,898,012)	$	—

Core deposit intangible asset values were determined by an analysis of the cost differential between the core deposits inclusive of estimated servicing costs and alternative funding sources for core deposits acquired through business combinations. The core deposit intangible assets recorded are amortized on an accelerated basis over a period of approximately 10 years. No impairment losses separate from the scheduled amortization have been recognized in the periods presented. The following table summarizes the changes in the Company's other intangible assets for the years ended December 31, 2019, 2020, and 2021.


	Other Intangible Assets
(in thousands)	Gross		Accumulated Amortization		Net
Balance, December 31, 2018	$	113,471	$	(89,507)	$	23,964

Amortization	—		(5,618)		(5,618)
Balance, December 31, 2019	113,471		(95,125)		18,346

Amortization	—		(4,986)		(4,986)
Balance, December 31, 2020	113,471		(100,111)		13,360

Amortization	—		(4,520)		(4,520)
Balance, December 31, 2021	$	113,471	$	(104,631)	$	8,840

The table below presents the forecasted amortization expense for intangible assets at December 31, 2021:


(in thousands)
Year	Expected Amortization
2022	$	4,095
2023	3,686
2024	1,059


Thereafter	—
Total intangible assets	$	8,840