Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2020

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 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 Company performed an annual impairment assessment as of July 31, 2019 and concluded that there was no impairment. As of June 30, 2020, we evaluated potential triggering events that might be indicators that our goodwill was impaired. The events include the economic disruption and uncertainty surrounding the COVID-19 pandemic and the recent volatility in stock prices. Based on our evaluation, we concluded that our goodwill was not more than likely impaired.

The 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 periods indicated:



	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
	(in thousands)
Goodwill
Total goodwill	$	765,842		$	765,842		$	765,842		$	765,842
Other intangible assets, net
CDI:
Gross CDI balance at beginning of period	105,473			105,473			105,473			105,473
Accumulated amortization at beginning of period	(73,244		)	(63,203		)	(70,934		)	(60,455		)
CDI, net at beginning of period	32,229			42,270			34,539			45,018
CDI current period amortization	(2,210		)	(2,649		)	(4,520		)	(5,397		)
Total CDI, net at end of period	30,019			39,621			30,019			39,621
Intangible assets not subject to amortization	919			919			919			919
Other intangible assets, net at end of period	30,938			40,540			30,938			40,540
Total goodwill and other intangible assets at end of period	$	796,780		$	806,382		$	796,780		$	806,382

The following table provides the estimated future amortization expense of our CDI for the remaining six months ending December 31, 2020 and the succeeding four years:



	Year ending December 31,
	(in thousands)
2020	$	4,204
2021	7,264
2022	5,880
2023	4,552
2024	3,432