Goodwill and other intangibles

9 Months Ended

Sep. 30, 2019

Goodwill [Line Items]

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 nine months ended September 30, 2019 and 2018.

(in thousands)	Goodwill		Other intangible assets		Total
December 31, 2017	$	72,334	$	—	$	72,334
Acquired goodwill and other intangible assets	40,405		7,549		47,954
Amortization	—		289		289
September 30, 2018	$	112,739	$	7,260	$	119,999
December 31, 2018	$	112,739	$	6,971	$	119,710
Acquired goodwill and other intangible assets	45,260		10,251		55,511
Amortization	—		1,732		1,732
September 30, 2019	$	157,999	$	15,490	$	173,489

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 September 30, 2019 and December 31, 2018.

	September 30, 2019				December 31, 2018
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Other intangible assets:
Core deposit intangible assets	$	16,500	$	2,310	$	6,249	$	578
Trade name intangible assets	1,300		—		1,300		—
Total	$	17,800	$	2,310	$	7,549	$	578

Core deposit intangible assets 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 $741,000 and $1.7 million for the three and nine months ended September 30, 2019, respectively. Aggregate amortization expense was $289,000 for both the three and nine months ended September 30, 2018.

Estimated amortization expense related to core deposit intangible assets for each of the periods listed below follows:

(in thousands)	Total
Three months ending December 31, 2019	$	741
2020	2,502
2021	2,040
2022	1,725
2023	1,548