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Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Net carrying value of intangible assets
The following table shows the net carrying value of the Corporation’s intangible assets:
 
 
June 30,
2015
 
December 31,
2014
 
June 30,
2014
 
 
(In thousands)
Goodwill
 
$
285,512

 
$
180,128

 
$
120,164

Other intangible assets:
 
 
 
 
 
 
Core deposit intangible assets
 
$
28,353

 
$
20,863

 
$
9,110

Non-compete intangible assets
 
541

 

 

Mortgage servicing rights
 
12,307

 
12,217

 
3,344

Total other intangible assets
 
$
41,201

 
$
33,080

 
$
12,454

Carrying amount, accumulated amortization and amortization expense of core deposit intangible assets
The following table sets forth the carrying amount, accumulated amortization and amortization expense of core deposit intangible assets that are amortizable and arose from business combinations or other acquisitions:
 
 
June 30,
2015
 
December 31,
2014
 
June 30,
2014
 
 
(In thousands)
Gross original amount
 
$
39,355

 
$
31,550

 
$
18,659

Accumulated amortization
 
11,002

 
10,687

 
9,549

Carrying amount
 
$
28,353


$
20,863

 
$
9,110

Amortization expense for the three months ended June 30
 
$
952

 
 
 
$
446

Amortization expense for the six months ended June 30
 
$
1,743

 
 
 
$
891

Net carrying value, fair value of MSRs and loans Corporation servicing for others
The following shows the net carrying value and fair value of MSRs and the total loans that the Corporation is servicing for others:
 
 
June 30,
2015
 
December 31,
2014
 
June 30,
2014
 
 
(In thousands)
Net carrying value of MSRs
 
$
12,307

 
$
12,217

 
$
3,344

Fair value of MSRs
 
$
16,602

 
$
14,979

 
$
6,433

Loans serviced for others that have servicing rights capitalized
 
$
2,193,067

 
$
2,093,140

 
$
871,158

Activity for capitalized MSRs
The following table shows the activity for capitalized MSRs:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2015
 
2014
 
2015
 
2014
 
 
(In thousands)
Balance at beginning of period
 
$
11,583

 
$
3,316

 
$
12,217

 
$
3,423

Acquired in Monarch acquisition
 
1,284

 

 
1,284

 

Additions
 
415

 
278

 
815

 
421

Amortization
 
(1,175
)
 
(250
)
 
(2,209
)
 
(500
)
Change in valuation allowance
 
200

 

 
200

 

Balance at end of period
 
$
12,307

 
$
3,344

 
$
12,307

 
$
3,344