Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

(In Thousands)

Changes in the carrying amount of goodwill during the years ended December 31, 2016 and 2015 were as follows:



	Community Banks			Insurance		Total
Balance at December 31, 2014	$	271,939		$	2,767	$	274,706
Addition to goodwill from Heritage acquisition	171,182			—		171,182
Adjustment to previously recorded goodwill	(17		)	—		(17		)
Balance at December 31, 2015	$	443,104		$	2,767	$	445,871
Addition to goodwill from KeyWorth acquisition	20,633			—		20,633
Adjustment to previously recorded goodwill	4,030			—		4,030
Balance at December 31, 2016	$	467,767		$	2,767	$	470,534

The addition to goodwill in 2016 from the KeyWorth acquisition and in 2015 from the Heritage acquisition represents the excess of the purchase price over the fair value of assets acquired and liabilities assumed in the transaction. The Company is finalizing the fair values of property and equipment related to the KeyWorth acquisition; as such, the recorded balance of goodwill is subject to change. The adjustment to previously recorded goodwill is due to valuation adjustments on property and equipment as well as certain loans acquired from Heritage. The adjustment to previously recorded goodwill in 2015 reflects tax benefits associated with the exercise of stock options assumed in connection with prior acquisitions.

The following table provides a summary of finite-lived intangible assets as of the dates presented:



	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
December 31, 2016
Core deposit intangible	$	47,992	$	(25,188	)	$	22,804
Customer relationship intangible	1,970		(700		)	1,270
Total finite-lived intangible assets	$	49,962	$	(25,888	)	$	24,074
December 31, 2015
Core deposit intangible	$	45,982	$	(18,572	)	$	27,410
Customer relationship intangible	1,970		(569		)	1,401
Total finite-lived intangible assets	$	47,952	$	(19,141	)	$	28,811

Core deposit intangible amortization expense for the years ended December 31, 2016, 2015 and 2014 was $6,616, $5,938 and $5,475, respectively. Customer relationship intangible amortization expense for the years ended December 31, 2016, 2015 and 2014 was $131 each year. The estimated amortization expense of finite-lived intangible assets for the five succeeding fiscal years is summarized as follows:



	Core Deposit Intangibles		Customer Relationship Intangible		Total
2017	$	5,723	$	131	$	5,854
2018	4,881		131		5,012
2019	4,101		131		4,232
2020	3,213		131		3,344
2021	2,273		131		2,404

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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