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Intangible Assets and Goodwill (Tables)
12 Months Ended
Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Summary of Intangible Assets

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

 

Estimated Amortization of Intangible Assets

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

 

 

Summary of Goodwill by Business Segment

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