XML 26 R15.htm IDEA: XBRL DOCUMENT v3.20.2
GOODWILL AND OTHER INTANGIBLE ASSETS
9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
The gross carrying amounts and accumulated amortization of intangible assets and goodwill are presented at the dates indicated in the following table:
 September 30, 2020Weighted
Average
Remaining
Life
December 31, 2019Weighted
Average
Remaining
Life
(Dollars in thousands)Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Amortizing intangible assets:        
Core deposit intangibles$29,038 $(6,841)$22,197 8.7 years$10,678 $(3,689)$6,989 8.0 years
Other identifiable intangibles13,906 (1,928)11,978 10.9 years1,478 (626)852 9.7 years
Total amortizing intangible assets$42,944 $(8,769)$34,175 $12,156 $(4,315)$7,841 
Goodwill$370,549 $370,549 $347,149 $347,149 

The table above reflects an additional $18.4 million in core deposit intangible asset related to the Revere acquisition that is amortizing over 9.67 years.
 
The amount of goodwill by reportable segment is presented in the following table:
(In thousands)Community
Banking
InsuranceInvestment
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 Bank841 — — 841 
Balance September 30, 2020$332,014 $6,788 $31,747 $370,549 
 
The table above includes the estimated amount of goodwill resulting from the Revere acquisition that was recorded as of September 30, 2020. See Note 2 for additional information on the Revere acquisition.
 
The following table presents the estimated future amortization expense for amortizing intangible assets within the years ending December 31:
(In thousands)Amount
Remaining for 2020$1,654 
20216,600 
20225,845 
20235,089 
20244,333 
Thereafter10,654 
Total amortizing intangible assets$34,175