Goodwill and other intangibles Goodwill and other intangibles

9 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Other Intangibles

The following table shows the activity in goodwill and other intangibles for the first nine months of 2018.



(in thousands)	Goodwill		Other Intangibles		Total
December 31, 2017	$	72,334	$	—	$	72,334
Acquired goodwill and other intangibles	40,405		7,549		47,954
Amortization	—		289		289
September 30, 2018	$	112,739	$	7,260	$	119,999

Park evaluates goodwill for impairment on April 1 of each year, with financial data as of March 31. Based on the analysis performed as of April 1, 2018, the Company determined that goodwill for Park's national bank subsidiary (PNB) was not impaired. There have been no subsequent circumstances or events triggering an additional evaluation.

Acquired Intangible Assets

The following table shows the balance of acquired intangible assets as of September 30, 2018. Park had no other intangible assets as of December 31, 2017.



	2018
(in thousands)	Gross Carrying Amount		Accumulated Amortization
Other intangible assets:
Core deposit intangibles	$	6,249	$	289
Trade name intangible	1,300		—
Total	$	7,549	$	289

Core deposit intangibles are being amortized, on an accelerated basis, over a period of ten years. The trade name intangible is an indefinite life asset and is not amortized, but rather is assessed, at least annually, for impairment. Aggregate amortization expense was $289,000 for both the three months and nine months ended September 30, 2018. There was no amortization expense during 2017.

Estimated amortization expense for each of the periods listed below follows:



(in thousands)	Total
Three months ending December 31, 2018	$	289
2019	1,234
2020	1,149
2021	869
2022	629