Core Deposit and Other Intangibles

12 Months Ended

Dec. 31, 2015

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Core Deposit and Other Intangibles

CORE DEPOSIT AND OTHER INTANGIBLES

The Ameriana acquisition on December 31, 2015 and the C Financial acquisition on April 17, 2015 resulted in a core deposit intangible of $3,200,000 and $981,000, respectively. On June 12, 2015, the sale of FMIG resulted in an other intangible reduction of $742,000. Additionally, on November 7, 2014, the Community acquisition resulted in a core deposit intangible of $4,658,000. Details regarding the acquisitions and sale are discussed in Note 2. ACQUISITIONS AND DIVESTITURES, in the Notes to Consolidated Financial Statements included as Item 8 of this Annual Report on Form 10-K.

The carrying basis and accumulated amortization of recognized core deposit and other intangibles are noted below.

	2015			2014
Gross carrying amount	$	58,360		$	53,702
Core deposit intangible and other intangibles acquired	4,181			4,658
Accumulated amortization	(45,164		)	(42,329		)
Core deposit intangible and other intangibles reduction	(742		)
Core Deposit and Other Intangibles	$	16,635		$	16,031

Amortization expense for the years ended December 31, 2015, 2014 and 2013, was $2,835,000, $2,445,000 and $1,649,000, respectively.

Estimated future amortization expense is summarized as follows:

	Amortization Expense
2016	$	3,055
2017	3,017
2018	1,904
2019	1,676
2020	1,618
After 2020	5,365
Total Future Minimum Obligations	$	16,635