Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other 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 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 Company performed an impairment assessment as of July 31, 2013 and concluded that there was no impairment. As of December 31, 2013 we determined there were no events or circumstances which would more likely than not reduce the fair value of our reporting unit below its carrying amount.

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 10 years.

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



	Years Ended December 31,
	2013			2012			2011
	(in thousands)
Total goodwill, beginning of period	$	115,554		$	115,554		$	109,639
Established through acquisitions	228,398			—			5,915
Total goodwill, end of period	343,952			115,554			115,554
Other intangible assets, net
Core deposit intangible:
Gross core deposit intangible balance, beginning of period	32,441			32,441			26,652
Accumulated amortization, beginning of period	(16,720		)	(12,275		)	(7,956		)
Core deposit intangible, net, beginning of period	15,721			20,166			18,696
Established through acquisitions	15,257			—			5,789
CDI current period amortization	(6,045		)	(4,445		)	(4,319		)
Total core deposit intangible, end of period	24,933			15,721			20,166
Intangible assets not subject to amortization	919			—			—
Other intangible assets, net at end of period	25,852			15,721			20,166
Total goodwill and intangible assets, end of period	$	369,804		$	131,275		$	135,720

The following table provides the estimated future amortization expense of core deposit intangibles for the succeeding five years:



Years Ending December 31,	(in thousands)
2014	$	5,963
2015	4,934
2016	4,195
2017	3,361
2018	2,500