XML 62 R38.htm IDEA: XBRL DOCUMENT v3.10.0.1
Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill [Table Text Block]
The Company has goodwill from business combinations, intangible assets from branch acquisitions, identifiable intangible assets assigned to core deposit relationships and customer lists of business lines acquired.  The following table presents gross carrying amount and accumulated amortization by major intangible asset class as of December 31, 2018 and 2017 (in thousands):
 
 
2018
 
2017
 
 
Gross Carrying Value
 
Accumulated Amortization
 
Gross Carrying Value
 
Accumulated Amortization
Goodwill not subject to amortization
 
$
109,037

 
$
3,760

 
$
63,910

 
$
3,760

Intangibles from branch acquisition
 
3,015

 
3,015

 
3,015

 
3,015

Core deposit intangibles
 
32,355

 
14,017

 
19,862

 
11,473

Customer list intangibles
 
16,029

 
2,648

 
3,731

 
2,285

 
 
$
160,436

 
$
23,440

 
$
90,518

 
$
20,533

Reconciliation of purchase price to goodwill recorded [Table Text Block]
The following table provides a reconciliation of the purchase price paid for First Bank and the amount of goodwill recorded (in thousands):

Unallocated purchase price
 
 
 
$
26,946

Less purchase accounting adjustments:
 
 
 
 
     Fair value of securities
 
320

 
 
     Fair value of loans
 
3,463

 
 
     Fair value of OREO
 
12

 
 
     Fair value of mortgage servicing rights
 
(1,097
)
 
 
     Fair value of premises and equipment
 
689

 
 
     Fair value of time deposits
 
1,301

 
 
     Fair value of FHLB advances
 
(328
)
 
 
     Fair value of subordinated debentures
 
(1,451
)
 
 
     Core deposit intangible
 
(5,224
)
 
 
     Other assets and other liabilities
 
1,860

 
 
 
 
 
 
(455
)
Resulting goodwill from acquisition
 
 
 
$
26,491


Intangible Assets, Mortgage Servicing Rights [Table Text Block]
As part of the acquisition of First Bank acquisition, the Company acquired mortgage servicing rights valued at $1,558,000. The following table summarizes the activity pertaining to the mortgage servicing rights included in intangible assets as of December 31, 2018 and 2017 (in thousands):
 
December 31, 2018

 
December 31, 2017

Beginning Balance
844

 
985

Acquired Balance
1,558

 

Mortgage Servicing rights capitalized
7

 

Mortgage Servicing rights amortized
(308
)
 
(141
)
Ending Balance
$
2,101

 
$
844


Schedule of Intangible Assets Amortization Expense [Table Text Block]
Total amortization expense for the years ended December 31, 2018, 2017 and 2016 was as follows (in thousands):
 
 
2018
 
2017
 
2016
Core deposit intangibles
 
2,544

 
1,829

 
1,628

Customer list intangibles
 
363

 
183

 
183

Mortgage Servicing Rights
 
308

 
141

 
98

 
 
$
3,215

 
$
2,153

 
$
1,909

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
stimated amortization expense for each of the five succeeding years is shown in the table below (in thousands):
For year ended 12/31/19
$
5,355

For year ended 12/31/20
4,644

For year ended 12/31/21
3,996

For year ended 12/31/22
3,630

For year ended 12/31/23
3,318