GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

The following table presents the net carrying amount of goodwill by segment for the periods indicated:

(In thousands)	Community Banking		Insurance		Investment Management		Total
Balance December 31, 2020	$	331,689	$	6,787	$	31,747	$	370,223
No Activity	—		—		—		—
Balance December 31, 2021	331,689		6,787		31,747		370,223
Disposal of subsidiary's assets(1)	—		(6,787)		—		(6,787)
Balance December 31, 2022	$	331,689	$	—	$	31,747	$	363,436

(1) Relates to a sale of Sandy Spring Insurance Corporation during 2022.

The gross carrying amounts and accumulated amortization of intangible assets and goodwill are presented at December 31 in the following table:

	2022						Weighted	2021						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	$	(16,694)	$	12,344	6.5 years	$	29,038	$	(12,624)	$	16,414	7.4 years
Other identifiable intangibles	13,906		(6,395)		7,511		8.8 years	13,906		(4,400)		9,506		9.7 years
Total amortizing intangible assets	$	42,944	$	(23,089)	$	19,855		$	42,944	$	(17,024)	$	25,920
Goodwill	$	363,436			$	363,436		$	370,223			$	370,223

The following table presents the estimated future amortization expense for amortizing intangible assets within the years ending December 31:

(In thousands)	Amount
2023	$	5,040
2024	4,291
2025	3,530
2026	2,702
2027	1,945
Thereafter	2,347
Total amortizing intangible assets	$	19,855