Goodwill and Other Intangibles

9 Months Ended

Sep. 30, 2015

Goodwill and Other Intangibles [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Other Intangibles

The following table presents the carrying value of goodwill at the reporting unit (or business segment) level:



(Dollars in thousands)	September 30, 2015		December 31, 2014
Commercial Banking Segment		$22,591		$22,591
Wealth Management Services Segment	41,605		35,523
Total		$64,196		$58,114

The balance of goodwill in the Wealth Management Services segment at September 30, 2015 includes the addition of $6.1 million resulting from the August 1, 2015 Halsey acquisition.

Intangible assets consist of wealth management advisory contracts and non-compete agreements. The following table presents the components of intangible assets:



(Dollars in thousands)	September 30, 2015				December 31, 2014
	Advisory Contracts		Non-compete Agreements		Advisory Contracts		Non-compete Agreements
Gross carrying amount		$20,803		$369		$13,657		$—
Accumulated amortization	9,338		41		8,808		—
Net amount		$11,465		$328		$4,849		$—

The balance of intangible assets at September 30, 2015 includes the addition of wealth management advisory contracts and non‑compete agreements with gross carrying amounts of $7.1 million and $369 thousand, respectively, resulting from the Halsey acquisition. The wealth management advisory contracts and non-compete agreements resulting from the Halsey acquisition are being amortized on a straight-line basis over a 15‑year and 18‑month life, respectively.

Amortization expense for the three and nine months ended September 30, 2015 amounted to $260 thousand and $571 thousand, respectively, compared to $161 thousand and $489 thousand, respectively, for the same periods in 2014.

The following table presents estimated remaining amortization expense for intangible assets at September 30, 2015:



(Dollars in thousands)	Advisory Contracts		Non-compete Agreements		Total
October 1, 2015 to December 31, 2015		$272		$62		$334
2016	1,038		246		1,284
2017	1,014		20		1,034
2018	978		—		978
2019	943		—		943
2020 and thereafter	7,220		—		7,220

- 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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