GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS     

The following table sets forth the carrying value of goodwill and other intangible assets, net of accumulated amortization, at December 31:

	2020		2019
	(Dollars in thousands)
Balances not subject to amortization
Goodwill	$	506,206	$	506,206
Balances subject to amortization
Core deposit intangibles	22,215		28,016
Other intangible assets	892		1,270
Total other intangible assets	23,107		29,286
Total goodwill and other intangible assets	$	529,313	$	535,492

The changes in the carrying value of goodwill for the periods indicated were as follows:

	2020		2019
	(Dollars in thousands)
Balance at beginning of year	$	506,206	$	256,105
Acquisitions	—		250,101
Balance at end of year	$	506,206	$	506,206

The gross carrying amount and accumulated amortization of other intangible assets were as follows at the dates indicated:

	December 31
	2020						2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(Dollars in thousands)
Core deposit intangibles	$	38,620	$	(16,405)	$	22,215	$	45,245	$	(17,229)	$	28,016
Other intangible assets	2,434		(1,542)		892		3,338		(2,068)		1,270
Total	$	41,054	$	(17,947)	$	23,107	$	48,583	$	(19,297)	$	29,286

Amortization of intangible assets was $6.2 million, $6.8 million, and $2.7 million at December 31, 2020, 2019, and 2018, respectively.

The following table sets forth the estimated annual amortization expense of intangible assets for each of the next five years:

Year	Amount
	(Dollars in thousands)
2021	$	5,315
2022	$	4,539
2023	$	3,948
2024	$	3,162
2025	$	2,329

The original weighted average amortization period for intangible assets is 9.9 years.