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Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Carrying Amount Of Goodwill And Intangible Assets

The carrying amount of goodwill and intangible assets attributable to each of our reporting segments is presented in the following table (in thousands):

 

 

 

December 31, 2018

 

 

Adjustments

 

 

Write-off

 

 

March 31, 2019

 

Goodwill

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Wealth Management

 

$

340,395

 

 

$

6,998

 

 

$

 

 

$

347,393

 

Institutional Group

 

 

694,284

 

 

 

14,434

 

 

 

 

 

 

708,718

 

 

 

$

1,034,679

 

 

$

21,432

 

 

$

 

 

$

1,056,111

 

 

 

 

December 31, 2018

 

 

Net Additions

 

 

Amortization

 

 

March 31, 2019

 

Intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Wealth Management

 

$

60,532

 

 

$

 

 

$

(1,847

)

 

$

58,685

 

Institutional Group

 

 

59,123

 

 

 

7,768

 

 

 

(1,746

)

 

 

65,145

 

 

 

$

119,655

 

 

$

7,768

 

 

$

(3,593

)

 

$

123,830

 

Intangible Assets Subject To Amortization Intangible assets subject to amortization as of March 31, 2019 and December 31, 2018 were as follows (in thousands):

 

 

 

 

March 31, 2019

 

 

December 31, 2018

 

 

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

Customer relationships

 

$

160,819

 

 

$

67,661

 

 

$

160,745

 

 

$

65,254

 

Trade name

 

 

26,831

 

 

 

12,136

 

 

 

26,831

 

 

 

11,755

 

Core deposits

 

 

8,615

 

 

 

1,384

 

 

 

8,615

 

 

 

816

 

Non-compete agreements

 

 

2,714

 

 

 

1,674

 

 

 

2,603

 

 

 

1,452

 

Investment banking backlog

 

 

1,445

 

 

 

1,311

 

 

 

1,431

 

 

 

1,293

 

Estimated First Empire intangibles (1)

 

 

7,700

 

 

 

128

 

 

 

 

 

 

 

 

 

$

208,124

 

 

$

84,294

 

 

$

200,225

 

 

$

80,570

 

(1)  See discussion regarding the allocation of the estimated goodwill and intangibles recorded for the First Empire acquisition.

Amortization Expense In Future Periods As of March 31, 2019, we expect amortization expense in future periods to be as follows (in thousands):

Fiscal year

 

 

 

 

Remainder of 2019

 

$

10,577

 

2020

 

 

13,586

 

2021

 

 

12,732

 

2022

 

 

11,916

 

2023

 

 

11,249

 

Thereafter

 

 

61,652

 

 

 

$

121,712