Goodwill and other intangibles

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Other Intangible Assets

The following table shows the activity in goodwill and other intangible assets for the six months ended June 30, 2019 and 2018.



(in thousands)	Goodwill		Other intangible assets		Total
December 31, 2017	$	72,334	$	—	$	72,334
Acquired goodwill and other intangible assets	—		—		—
Amortization	—		—		—
June 30, 2018	$	72,334	$	—	$	72,334

December 31, 2018	$	112,739	$	6,971	$	119,710
Acquired goodwill and other intangible assets	45,318		10,251		55,569
Amortization	—		991		991
June 30, 2019	$	158,057	$	16,231	$	174,288

Park evaluates goodwill for impairment during the second quarter of each year, with financial data as of March 31. Based on the analysis performed during the second quarter of 2019, the Company determined that goodwill for Park's reporting unit, 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 June 30, 2019 and December 31, 2018.



	June 30, 2019				December 31, 2018
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Other intangible assets:
Core deposit intangibles	$	16,500	$	1,569	$	6,249	$	578
Trade name intangible	1,300		—		1,300		—
Total	$	17,800	$	1,569	$	7,549	$	578

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 $702,000 and $991,000 for the three and six months ended June 30, 2019, respectively. There was no amortization expense for the three and six months ended June 30, 2018.

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



(in thousands)	Total
Six months ending December 31, 2019	$	1,482
2020	2,502
2021	2,040
2022	1,725
2023	1,548