Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying Amount of Goodwill

The following tables summarize the effects of the adjustment on the amounts previously reported in the goodwill allocation table, the corrected (or “as adjusted”) amounts for each applicable period end and the changes in goodwill for each period presented.

	Reporting Unit (1)
	Wealth Management		Consumer Banking		Commercial Banking		Total
	(in thousands)
December 31, 2021, as reported	$	38,851	$	222,390	$	1,197,767	$	1,459,008
Adjustment	(4,536)		127,167		(122,631)		—
December 31, 2021, as adjusted	$	34,315	$	349,557	$	1,075,136	$	1,459,008
December 31, 2022, as reported	$	49,767	$	284,873	$	1,534,296	$	1,868,936
Adjustment	28,375		64,773		(93,148)		—
December 31, 2022, as adjusted	$	78,142	$	349,646	$	1,441,148	$	1,868,936

	Reporting Unit (1)
	Wealth Management		Consumer Banking		Commercial Banking		Total
	(in thousands)
December 31, 2021, as adjusted	$	34,315	$	349,557	$	1,075,136	$	1,459,008
Goodwill from business combinations, as adjusted (2)	43,827		89		366,012		409,928
December 31, 2022, as adjusted	$	78,142	$	349,646	$	1,441,148	$	1,868,936
December 31, 2023	$	78,142	$	349,646	$	1,441,148	$	1,868,936

(1)    The Wealth Management and Consumer Banking reporting units are both components of the overall Consumer Banking operating segment, which is further described in Note 21.

(2)    Includes adjustments of $32.9 million, $(62.4) million and $29.4 million for Wealth Management, Consumer Banking and Commercial Banking, respectively, to reflect the correction of an immaterial error related to the reallocation of goodwill during the second quarter 2022.

Other Intangible Assets

The following tables summarize other intangible assets as of December 31, 2023 and 2022: 

	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
	(in thousands)
December 31, 2023
Loan servicing rights	$	122,586	$	(100,636)	$	21,950
Core deposits	215,620		(113,183)		102,437
Other	50,393		(14,449)		35,944
Total other intangible assets	$	388,599	$	(228,268)	$	160,331
December 31, 2022
Loan servicing rights	$	119,943	$	(96,136)	$	23,807
Core deposits	223,670		(92,486)		131,184
Other	51,299		(8,834)		42,465
Total other intangible assets	$	394,912	$	(197,456)	$	197,456

Schedule of Change in Loan Servicing Rights

The following table summarizes the change in loan servicing rights during the years ended December 31, 2023, 2022 and 2021: 

	2023		2022		2021
	(in thousands)
Loan servicing rights:
Balance at beginning of year	$	23,807	$	23,685	$	22,810
Origination of loan servicing rights	2,643		5,307		11,486
Amortization expense	(4,500)		(5,185)		(10,611)
Balance at end of year	$	21,950	$	23,807	$	23,685
Valuation allowance:
Balance at beginning of year	$	—	$	—	$	(865)
Impairment recovery adjustment	—		—		865
Balance at end of year, net of valuation allowance	$	21,950	$	23,807	$	23,685

Estimated Future Amortization Expense

The following table presents the estimated amortization expense of other intangible assets over the next five-year period: 

Year	Loan Servicing Rights		Core Deposits		Other
	(in thousands)
2024	$	2,816	$	24,897	$	5,951
2025	2,478		21,048		5,380
2026	2,187		17,223		4,805
2027	1,916		13,544		4,205
2028	1,681		10,117		3,633