Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

(7) INTANGIBLE ASSETS AND GOODWILL

The following is a summary of intangible assets:


	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in thousands)
As of December 31, 2021
Core deposit intangibles	$	27,433	$	(10,311	)		17,122
Customer relationship intangibles		3,350		(2,906	)		444
Total	$	30,783	$	(13,217	)	$	17,566
As of December 31, 2020
Core deposit intangibles	$	33,411	$	(15,076	)	$	18,335
Customer relationship intangibles		3,350		(2,686	)		664
Total	$	36,761	$	(17,762	)	$	18,999

Estimated amortization of intangible assets for the next five years, as of December 31, 2021, is as follows (dollars in thousands):


Estimated Amortization
2022	$	2,879
2023		2,862
2024		2,862
2025		2,645
2026		2,033

At December 31, 2021, the weighted-average remaining life of all intangible assets was approximately 6.6 years, which consisted of customer relationship intangibles with a weighted-average life of 3.5 years and core deposit intangibles with a weighted-average life of 6.7 years.

The following is a summary of goodwill by business segment:


							Other		Executive,
	Metropolitan		Community		Pegasus		Financial		Operations
	Banks		Banks		Bank		Services		& Support		Consolidated
	(Dollars in thousands)
Year Ended December 31, 2021
Balance at beginning and end of period	$	13,767	$	61,212	$	68,855	$	5,464	$	624	$	149,922

Year Ended December 31, 2020
Balance at beginning of period	$	13,767	$	59,894	$	68,855	$	5,464	$	624	$	148,604
Acquisitions		—		1,318		—		—		—		1,318
Balance at end of period	$	13,767	$	61,212	$	68,855	$	5,464	$	624	$	149,922

The Company acquired Citizens on March 5, 2020, which added $1.3 million in goodwill.