Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

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 upon 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 its annual impairment assessment as of July 31, 2020 and concluded that there was no impairment. As of December 31, 2020, 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.

Our CDIs are evaluated for impairment if events and circumstances indicate possible impairment. The CDIs are amortized on an accelerated basis over an estimated life of 10 years each.

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

	Years Ended December 31,
	2020		2019		2018
	(in thousands)
Total goodwill, end of period	$	765,842	$	765,842	$	765,842
Other intangible assets, net
CDI:
Gross CDI balance, beginning of period	105,473		105,473		105,473
Accumulated amortization, beginning of period	(70,934)		(60,455)		(48,219)
CDI, net, beginning of period	34,539		45,018		57,254
CDI current period amortization	(8,724)		(10,479)		(12,236)
Total CDI, end of period	25,815		34,539		45,018
Intangible assets not subject to amortization	919		919		919
Other intangible assets, net at end of period	26,734		35,458		45,937
Total goodwill and intangible assets, end of period	$	792,576	$	801,300	$	811,779

The following table provides the estimated future amortization expense of CDI for the succeeding five years:

	Years Ending December 31,
	(in thousands)
2021	$	7,264
2022	5,880
2023	4,552
2024	3,432
2025	2,415