Goodwill and other Intangible Assets

12 Months Ended

Dec. 31, 2016

Goodwill and other Intangible Assets [Abstract]

7. Goodwill and Other Intangible Assets

A summary of goodwill is as follows as of December 31, 2016 and 2015:

(In thousands)
January 1, 2016	$	265,957
Goodwill Acquired		2,047
Goodwill Adjustments		(2,565	)
December 31, 2016	$	265,439

January 1, 2015	$	263,634
Goodwill Acquired		2,323
December 31, 2015	$	265,957

The Company has intangible assets with definite useful lives capitalized on its consolidated balance sheet in the form of core deposit and other identified intangible assets. These intangible assets are amortized over their estimated useful lives, which range primarily from one to twenty years.

During the twelve month period ended December 31, 2016, as a result of the disposition of a line of business in the Company's insurance agency subsidiary, the Company performed a goodwill impairment test that resulted in an impairment charge of $2.6 million.

A summary of core deposit and other intangible assets follows as of December 31, 2016 and 2015:

	December 31,
(In thousands)	2016		2015
Core deposit intangibles:
Gross carrying amount	$	8,975	$	19,401
Less: accumulated amortization		5,626		14,800
Net carrying amount		3,349		4,601

Identified intangible assets:
Gross carrying amount		32,338		29,525
Less: accumulated amortization		19,872		16,861
Net carrying amount		12,466		12,664

Total intangibles:
Gross carrying amount		41,312		48,926
Less: accumulated amortization		25,497		31,661
Net carrying amount	$	15,815	$	17,265

Amortization expense on intangible assets with definite useful lives totaled $3.9 million for 2016, $4.9 million for 2015 and $5.0 million for 2014. Amortization expense on intangible assets with definite useful lives is expected to total $3.3 million for 2017, $2.6 million for 2018, $1.9 million for 2019, $1.5 million for 2020, $1.1 million for 2021 and $3.9 million thereafter. Other identified intangible assets include customer lists, non-competes, and trademark intangibles.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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