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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of core deposit intangibles and other intangibles
The Corporation has other intangible assets that are amortized, consisting of CDIs and MSRs. For CDIs and other intangibles, changes in the gross carrying amount, accumulated amortization, and net book value were as follows:
($ in Thousands)202120202019
Core deposit intangibles
Gross carrying amount at the beginning of the year$88,109 $80,730 $58,100 
Additions during the year— 7,379 22,630 
Accumulated amortization(30,016)(21,205)(12,456)
Net book value$58,093 $66,904 $68,274 
Amortization during the year$8,811 $8,749 $7,130 
Other intangibles
Gross carrying amount at the beginning of the year$2,000 $38,970 $44,887 
Additions during the year— 200 — 
Reductions due to sale(1,317)(17,435)(217)
Accumulated amortization(683)(20,385)(24,643)
Net book value$— $1,350 $20,027 
Amortization during the year$33 $1,443 $2,818 
Summary of changes in balance of mortgage servicing rights asset and mortgage servicing rights valuation allowance
A summary of changes in the balance of the MSRs asset and the MSRs valuation allowance is as follows:
($ in Thousands)202120202019
Mortgage servicing rights
Mortgage servicing rights at beginning of year$59,967 $67,607 $68,433 
Additions from acquisition— 1,357 — 
Additions16,151 13,667 11,606 
Amortization(19,436)(22,664)(12,432)
Mortgage servicing rights at end of year$56,682 $59,967 $67,607 
Valuation allowance at beginning of year(18,006)(302)(239)
(Additions) recoveries, net16,186 (17,704)(63)
Valuation allowance at end of year(1,820)(18,006)(302)
Mortgage servicing rights, net$54,862 $41,961 $67,306 
Fair value of mortgage servicing rights$57,259 $41,990 $72,532 
Portfolio of residential mortgage loans serviced for others (“servicing portfolio”)6,994,834 7,743,956 8,488,969 
Mortgage servicing rights, net to servicing portfolio0.78 %0.54 %0.79 %
Mortgage servicing rights expense(a)
$3,250 $40,369 $12,494 
(a) Includes the amortization of mortgage servicing rights and additions / recoveries to the valuation allowance of mortgage servicing rights, and is a component of mortgage banking, net on the consolidated statements of income.
Summary of estimated future amortization expense
The projections of amortization expense are based on existing asset balances, the current interest rate environment, and prepayment speeds as of December 31, 2021. The actual amortization expense the Corporation recognizes in any given period may be significantly different depending upon acquisition or sale activities, changes in interest rates, prepayment speeds, market conditions, regulatory requirements, and events or circumstances that indicate the carrying amount of an asset may not be recoverable. The following table shows the estimated future amortization expense for amortizing intangible assets:
($ in Thousands)Core Deposit IntangiblesMortgage Servicing Rights
Year ending December 31,
2022$8,811 $8,901 
20238,811 9,614 
20248,811 7,811 
20258,811 6,490 
20268,811 5,423 
Beyond 202614,038 18,444 
Total Estimated Amortization Expense$58,093 $56,682