XML 47 R31.htm IDEA: XBRL DOCUMENT v3.3.0.814
Goodwill and Other Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in the Carrying Amount of Goodwill
The changes in the carrying amount of goodwill as allocated to Valley's business segments, or reporting units thereof, for goodwill impairment analysis were: 
 
Business Segment / Reporting Unit*
 
Wealth
Management
 
Consumer
Lending
 
Commercial
Lending
 
Investment
Management
 
Total
 
(in thousands)
Balance at December 31, 2014
$
20,517

 
$
168,922

 
$
252,900

 
$
133,553

 
$
575,892

Goodwill from business combinations

 
450

 
869

 
323

 
1,642

Balance at September 30, 2015
$
20,517

 
$
169,372

 
$
253,769

 
$
133,876

 
$
577,534

 
*
Valley’s Wealth Management Division is comprised of trust, asset management, and insurance services. This reporting unit is included in the Consumer Lending segment for financial reporting purposes.
Other Intangible Assets
The following table summarizes other intangible assets as of September 30, 2015 and December 31, 2014: 
 
Gross
Intangible
Assets
 
Accumulated
Amortization
 
Valuation
Allowance
 
Net
Intangible
Assets
 
(in thousands)
September 30, 2015
 
 
 
 
 
 
 
Loan servicing rights
$
75,477

 
$
(58,027
)
 
$
(383
)
 
$
17,067

Core deposits
43,384

 
(30,888
)
 

 
12,496

Other
4,374

 
(2,555
)
 

 
1,819

Total other intangible assets
$
123,235

 
$
(91,470
)
 
$
(383
)
 
$
31,382

December 31, 2014
 
 
 
 
 
 
 
Loan servicing rights
$
72,154

 
$
(51,708
)
 
$
(592
)
 
$
19,854

Core deposits
46,694

 
(29,916
)
 

 
16,778

Other
4,591

 
(2,448
)
 

 
2,143

Total other intangible assets
$
123,439

 
$
(84,072
)
 
$
(592
)
 
$
38,775

Estimated Future Amortization Expense
The following table presents the estimated future amortization expense of other intangible assets for the remainder of 2015 through 2019: 
 
Loan
Servicing
Rights
 
Core
Deposits
 
Other
 
(in thousands)
2015
$
1,373

 
$
777

 
$
108

2016
4,336

 
2,648

 
233

2017
3,404

 
2,120

 
220

2018
2,601

 
1,767

 
193

2019
1,915

 
1,497

 
181