Goodwill and Intangible Assets

In accordance with the Intangibles – Goodwill and Other topic of the FASB ASC, goodwill is not amortized but is reviewed for potential impairment at the reporting unit level. Management analyzes its goodwill for impairment on an annual basis on July 31 and between annual tests in certain circumstances such as material adverse changes in legal, business, regulatory and economic factors. An impairment loss is recorded to the extent that the carrying amount of goodwill exceeds its implied fair value.

The core deposit intangible (“CDI”) is evaluated for impairment if events and circumstances indicate a possible impairment. The CDI is amortized on an accelerated basis over an estimated life of approximately 10 years.

The following table sets forth activity for goodwill and intangible assets for the period:



	Three Months Ended March 31,
	2013			2012
	(in thousands)
Total goodwill	$	115,554		$	115,554
Core deposit intangible:
Gross core deposit intangible balance at beginning of period	32,441			32,441
Accumulated amortization at beginning of period	(16,720		)	(12,275		)
Core deposit intangible, net at beginning of period	15,721			20,166
CDI current period amortization	(1,028		)	(1,150		)
Total core deposit intangible, net at end of period	14,693			19,016
Total goodwill and intangible assets at end of period	$	130,247		$	134,570

The following table provides the estimated future amortization expense of core deposit intangibles for the remaining nine months ending December 31, 2013 and the succeeding four years:



	Amount
	(in thousands)
Year ending December 31,
2013	$	2,936
2014	3,397
2015	2,645
2016	2,183
2017	1,627