Intangible Assets, Goodwill and Other

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Other Intangible Assets

At March 31, 2023, Columbia had recorded $1.0 billion in goodwill related to the Merger, as compared to no goodwill at December 31, 2022. Goodwill represents the excess of the total acquisition price paid over the fair value of the assets acquired, net of fair value of liabilities assumed. Additional information on the Merger and purchase price allocations is provided in Note 2 - Business Combinations.

Core deposit intangible assets values were determined by an analysis of the cost differential between the core deposits inclusive of estimated servicing costs and alternative funding sources for core deposits acquired through business combinations. The core deposit intangible assets recorded are amortized on an accelerated basis over a period of 10 years. No impairment losses separate from the scheduled amortization have been recognized in the periods presented.

The following table summarizes other intangible assets as of March 31, 2023 and December 31, 2022.

	Other Intangible Assets
(in thousands)	Gross		Accumulated Amortization		Net
Balance, December 31, 2022	$	54,561	$	(49,816)	$	4,745
Net additions	710,230		—		710,230
Amortization	—		(12,660)		(12,660)
Balance, March 31, 2023	$	764,791	$	(62,476)	$	702,315

The table below presents the forecasted amortization expense for intangible assets at March 31, 2023:

(in thousands)
Year	Expected Amortization
2023	$	104,017
2024	123,735
2025	108,589
2026	94,502
2027	80,415
Thereafter	191,057
Total intangible assets	$	702,315