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Goodwill and Other Intangible Assets
6 Months Ended
Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
GOODWILL AND OTHER INTANGIBLE ASSETS
 
Goodwill is tested annually, or more often than annually, if circumstances warrant, for impairment. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated, and goodwill is written down to its implied fair value. Subsequent increases in goodwill value are not recognized in the financial statements. Goodwill totaled $845.7 million at June 30, 2018 and $842.7 million at December 31, 2017.
 
The Company recorded $229.1 million, $240.8 million and $29.4 million of goodwill as a result of its acquisitions of OKSB, First Texas and Hardeman, respectively. Goodwill impairment was neither indicated nor recorded during the six months ended June 30, 2018 or the year ended December 31, 2017.
 
Core deposit premiums are amortized over periods ranging from 10 to 15 years and are periodically evaluated, at least annually, as to the recoverability of their carrying value. Core deposit premiums of $42.1 million, $7.3 million, and $7.8 million were recorded during 2017 as part of the OKSB, First Texas and Hardeman acquisitions, respectively.
 
Intangible assets are being amortized over various periods ranging from 10 to 15 years. The Company recorded $830,000 of intangible assets during 2017 related to the insurance operations in the Hardeman acquisition. The Company recorded $3.8 million of other intangible assets during 2017 as part of the OKSB acquisition which were subsequently sold in first quarter 2018.
 
The Company’s goodwill and other intangibles (carrying basis and accumulated amortization) at June 30, 2018 and December 31, 2017, were as follows: 
 
(In thousands)
June 30, 2018
 
December 31, 2017
 
 
 
 
Goodwill
$
845,687

 
$
842,651

Core deposit premiums:
 
 
 
Gross carrying amount
105,984

 
105,984

Accumulated amortization
(21,425
)
 
(16,659
)
Core deposit premiums, net
84,559


89,325

Books of business intangible:
 
 
 
Gross carrying amount
15,234

 
15,414

Accumulated amortization
(3,177
)
 
(2,827
)
Books of business intangible, net
12,057


12,587

Other intangibles:
 
 
 
Gross carrying amount
2,068

 
6,037

Accumulated amortization
(1,964
)
 
(1,878
)
Other intangibles, net
104


4,159

Other intangible assets, net
96,720

 
106,071

Total goodwill and other intangible assets
$
942,407


$
948,722


 
The Company’s estimated remaining amortization expense on intangibles as of June 30, 2018 is as follows:
 
(In thousands)
Year
 
Amortization
Expense
 
Remainder of 2018
 
$
5,387

 
2019
 
10,565

 
2020
 
10,552

 
2021
 
10,490

 
2022
 
10,438

 
Thereafter
 
49,288

 
Total
 
$
96,720