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Intangible Assets and goodwill
12 Months Ended
Dec. 31, 2014
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill

(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, 2014

 

 

 

 

Core deposit intangibles

 

$

13,198

 

 

$

(6,013

)

 

$

7,185

 

Customer relationship intangibles

 

 

5,699

 

 

 

(2,699

)

 

 

3,000

 

Mortgage servicing intangibles

 

 

643

 

 

 

(193

)

 

 

450

 

Total

 

$

19,540

 

 

$

(8,905

)

 

$

10,635

 

As of December 31, 2013

 

 

 

 

Core deposit intangibles

 

$

10,963

 

 

$

(4,620

)

 

$

6,343

 

Customer relationship intangibles

 

 

5,699

 

 

 

(2,337

)

 

 

3,362

 

Mortgage servicing intangibles

 

 

718

 

 

 

(150

)

 

 

568

 

Total

 

$

17,380

 

 

$

(7,107

)

 

$

10,273

 

 

Estimated amortization of intangible assets for the next five years, as of December 31, 2014, is as follows (dollars in thousands):

 

Estimated Amortization

 

2015

 

$

1,855

 

2016

 

 

1,631

 

2017

 

 

1,540

 

2018

 

 

1,531

 

2019

 

 

1,524

 

 

At December 31, 2014, the weighted-average remaining life of all intangible assets was approximately 6.5 years which consisted of customer relationship intangibles with a weighted-average life of 8.8 years, core deposit intangibles with a weighted-average life of 5.9 years and mortgage servicing intangibles with a weighted-average life of 2.3 years based on current prepayment assumptions.

The following is a summary of goodwill by business segment:

 

 

 

Metropolitan
Banks

 

 

Community
Banks

 

 

Other
Financial
Services

 

 

Executive,
Operations
& Support

 

 

Consolidated

 

 

 

(Dollars in thousands)

 

Balance at December 31, 2013

 

$

8,078

 

 

$

30,553

 

 

$

5,464

 

 

$

450

 

 

$

44,545

 

Acquisitions

 

 

 

 

 

417

 

 

 

 

 

 

 

 

 

417

 

Balance at December 31, 2014

 

$

8,078

 

 

$

30,970

 

 

$

5,464

 

 

$

450

 

 

$

44,962

 

 

 

 

Metropolitan
Banks

 

 

Community
Banks

 

 

Other
Financial
Services

 

 

Executive,
Operations
& Support

 

 

Consolidated

 

 

 

(Dollars in thousands)

 

Year Ended December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning and end of period

 

$

8,078

 

 

$

30,553

 

 

$

5,464

 

 

$

450

 

 

$

44,545