XML 43 R32.htm IDEA: XBRL DOCUMENT v3.20.2
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2020
Goodwill and Intangible Assets [Abstract]  
Gross Carrying Amounts and Accumulated Amortization of Intangible Assets and Goodwill

 

 

 

June 30, 2020

 

Weighted

 

December 31, 2019

 

Weighted

 

 

 

Gross

 

 

 

 

Net

 

Average

 

Gross

 

 

 

 

Net

 

Average

 

 

 

Carrying

 

Accumulated

 

Carrying

 

Remaining

 

Carrying

 

Accumulated

 

Carrying

 

Remaining

(Dollars in thousands)

 

Amount

 

Amortization

 

Amount

 

Life

 

Amount

 

Amortization

 

Amount

 

Life

Amortizing intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Core deposit intangibles

 

$

29,038

 

$

(5,399)

 

$

23,639

 

9.0

years

 

$

10,678

 

$

(3,689)

 

$

6,989

 

8.0

years

Other identifiable intangibles

 

 

13,906

 

 

(1,402)

 

 

12,504

 

11.2

years

 

 

1,478

 

 

(626)

 

 

852

 

9.7

years

 

Total amortizing intangible assets

 

$

42,944

 

$

(6,801)

 

$

36,143

 

 

 

 

$

12,156

 

$

(4,315)

 

$

7,841

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

370,547

 

 

 

 

$

370,547

 

 

 

 

$

347,149

 

 

 

 

$

347,149

 

 

 

Net carrying amount of goodwill by segment

 

 

 

Community

 

 

 

 

 

Investment

 

 

 

(In thousands)

 

 

Banking

 

 

Insurance

 

 

Management

 

 

Total

Balance December 31, 2019

 

$

331,173

 

$

6,788

 

$

9,188

 

$

347,149

Acquisition of Rembert Pendleton Jackson

 

 

-

 

 

-

 

 

22,559

 

 

22,559

Acquisition of Revere Bank

 

 

839

 

 

-

 

 

-

 

 

839

Balance June 30, 2020

 

$

332,012

 

$

6,788

 

$

31,747

 

$

370,547

Estimated Future Amortization Expense for Amortizing Intangibles

(In thousands)

 

Amount

Remaining for 2020

 

$

3,622

2021

 

 

6,600

2022

 

 

5,845

2023

 

 

5,089

2024

 

 

4,333

Thereafter

 

 

10,654

 

Total amortizing intangible assets

 

$

36,143