Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2020

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, 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
As of December 31, 2019
Core deposit intangibles	$	35,856	$	(14,131	)	$	21,725
Customer relationship intangibles		3,391		(2,508	)		883
Total	$	39,247	$	(16,639	)	$	22,608

The evaluation of intangible assets for the year ended December 31, 2019 resulted in an impairment of customer relationship intangibles of approximately $353,000 related to BancFirst Insurance Services, Inc.  

Estimated amortization of intangible assets for the next five years, as of December 31, 2020, is as follows (dollars in thousands):

Estimated Amortization
2021	$	2,977
2022		2,710
2023		2,693
2024		2,693
2025		2,476

At December 31, 2020, the weighted-average remaining life of all intangible assets was approximately 7.2 years which consisted of customer relationship intangibles with a weighted-average life of 4.0 years and core deposit intangibles with a weighted-average life of 7.3 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, 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
Year Ended December 31, 2019
Balance at beginning of period	$	13,767	$	59,894	$	—	$	5,464	$	624	$	79,749
Acquisitions		—		—		68,855		—		—		68,855
Balance at end of period	$	13,767	$	59,894	$	68,855	$	5,464	$	624	$	148,604

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

The Company acquired Pegasus Bank on August 15, 2019, which added $68.9 million in goodwill.  The Company did not apply push down accounting and therefore the goodwill associated with this acquisition is included at the holding company level.