Goodwill And Other Intangible Assets

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Other Intangible Assets

Goodwill and Other Intangible Assets

The following table presents information about the Company's intangible assets which have estimable useful lives.

	June 30, 2021								December 31, 2020
(In thousands)	Gross Carrying Amount		Accumulated Amortization		Valuation Allowance		Net Amount		Gross Carrying Amount		Accumulated Amortization		Valuation Allowance		Net Amount
Amortizable intangible assets:
Core deposit premium	$	31,270	$	(30,098)	$	—	$	1,172	$	31,270	$	(29,912)	$	—	$	1,358
Mortgage servicing rights	18,576		(8,396)		(804)		9,376		15,238		(6,886)		(2,103)		6,249
Total	$	49,846	$	(38,494)	$	(804)	$	10,548	$	46,508	$	(36,798)	$	(2,103)	$	7,607

Aggregate amortization expense on intangible assets was $745 thousand and $442 thousand for the three month periods ended June 30, 2021 and 2020, respectively, and $1.7 million and $710 thousand for the six month periods ended June 30, 2021 and 2020, respectively. The following table shows the estimated annual amortization expense for the next five fiscal years. This expense is based on existing asset balances and the interest rate environment as of June 30, 2021. The Company’s actual amortization expense in any given period may be different from the estimated amounts depending upon the acquisition of intangible assets, changes in mortgage interest rates, prepayment rates and other market conditions.

(In thousands)
2021	$	2,661
2022	1,646
2023	1,377
2024	1,149
2025	952

Changes in the carrying amount of goodwill and net other intangible assets for the six month period ended June 30, 2021 are as follows:

(In thousands)	Goodwill		Easement		Core Deposit Premium		Mortgage Servicing Rights
Balance January 1, 2021	$	138,921	$	3,600	$	1,358	$	6,249
Originations	—		—		—		3,338
Amortization	—		—		(186)		(1,510)
Impairment reversal	—		—		—		1,299
Balance June 30, 2021	$	138,921	$	3,600	$	1,172	$	9,376

Goodwill allocated to the Company’s operating segments at June 30, 2021 and December 31, 2020 is shown below.

(In thousands)
Consumer segment	$	70,721
Commercial segment	67,454
Wealth segment	746
Total goodwill	$	138,921