Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2022

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, 2022
Core deposit intangibles	$	33,298	$	(13,615	)	$	19,683
Customer relationship intangibles		3,350		(3,050	)		300
Total	$	36,648	$	(16,665	)	$	19,983
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

Estimated amortization of intangible assets for the next five years, as of December 31, 2022, is as follows (dollars in thousands):


Estimated Amortization
2023	$	3,449
2024		3,449
2025		3,223
2026		2,620
2027		2,616

At December 31, 2022, 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 2.6 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						Financial		Operations
	Banks		Banks		Pegasus		Worthington		Services		& Support		Consolidated
	(Dollars in thousands)
Year Ended December 31, 2022
Balance at beginning of period	$	13,767	$	61,212	$	68,855	$	—	$	5,464	$	624	$	149,922
Acquisitions		—		—		—		32,133		—		—		32,133
Balance at end of period	$	13,767	$	61,212	$	68,855	$	32,133	$	5,464	$	624	$	182,055

Year Ended December 31, 2021
Balance at beginning and end of period	$	13,767	$	61,212	$	68,855	$	—	$	5,464	$	624	$	149,922

The Company acquired Worthington on February 8, 2022, which added core deposit intangibles and goodwill shown in the tables above. See Note (2) of the Notes to Consolidated Financial Statements for disclosure regarding the Company’s recent developments, including mergers and acquisitions.