Goodwill and Other Intangibles (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Goodwill and Other Intangible Assets

The following tables set forth the carrying amount of goodwill and other intangible assets, net of accumulated amortization by reporting unit at the dates indicated below:

	As of December 31, 2022
	Banking Business		Insurance Agency Business		Net Carrying Amount
	(In thousands)
Balances not subject to amortization
Goodwill	$	557,635	$	82,587	$	640,222
Balances subject to amortization
Insurance agency (1)	—		10,530		10,530
Core deposits	10,374		—		10,374
Total other intangible assets	10,374		10,530		20,904
Total goodwill and other intangible assets	$	568,009	$	93,117	$	661,126

(1)Insurance agency intangible assets include customer list, non-compete agreement and supplier relationship intangible assets.

	As of December 31, 2021
	Banking Business		Insurance Agency Business		Net Carrying Amount
	(In thousands)
Balances not subject to amortization
Goodwill	$	557,635	$	73,861	$	631,496
Balances subject to amortization
Insurance agency (1)	—		6,635		6,635
Core deposits	11,572		—		11,572
Total other intangible assets	11,572		6,635		18,207
Total goodwill and other intangible assets	$	569,207	$	80,496	$	649,703

(1)Insurance agency intangible assets include customer list, non-compete agreement and supplier relationship intangible assets.

Schedule of Goodwill Carrying Value

The changes in the carrying value of goodwill for the periods indicated were as follows:

	For the Year Ended December 31, 2022
	Banking Business		Insurance Agency Business		Net Carrying Amount
	(In thousands)
Balance at beginning of year	$	557,635	$	73,861	$	631,496
Goodwill recorded during the year (1)	—		8,726		8,726
Goodwill disposed of during the year	—		—		—
Balance at end of year	$	557,635	$	82,587	$	640,222

(1)The goodwill recorded during the year relates to the acquisition of two insurance agencies. For additional information refer to Note 3, Mergers and Acquisitions.

	For the Year Ended December 31, 2021
	Banking Business		Insurance Agency Business		Net Carrying Amount
	(In thousands)
Balance at beginning of year	$	298,611	$	70,866	$	369,477
Goodwill recorded during the year (1)	259,024		2,995		262,019
Goodwill disposed of during the year	—		—		—
Balance at end of year	$	557,635	$	73,861	$	631,496

(1)The goodwill recorded during the year relates to the acquisition of Century and two insurance agencies. For additional information refer to Note 3, Mergers and Acquisitions.

Summary of Carrying Amount and Accumulated Amortization of Other Intangible Assets

The following table sets forth the carrying amount of the Company’s intangible assets, net of accumulated amortization, as of the dates indicated below:

	As of December 31,
	2022						2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(In thousands)
Insurance agency (1)	$	37,105	$	(26,575)	$	10,530	$	30,545	$	(23,910)	$	6,635
Core deposits	15,969		(5,595)		10,374		18,212		(6,640)		11,572
Total	$	53,074	$	(32,170)	$	20,904	$	48,757	$	(30,550)	$	18,207

(1)Insurance agency intangible assets include customer list, non-compete agreement and supplier relationship intangible assets.

Schedule of Amortization Expense

The estimated amortization expense for each of the five succeeding years and thereafter is as follows:

Year	(In thousands)
2023	$	3,831
2024	3,350
2025	2,889
2026	2,467
2027	2,102
Thereafter	6,265
Total amortization expense	$	20,904