Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangibles

Changes in the carrying amount and accumulated amortization of the Company’s core deposit premiums and other intangible assets at September 30, 2022 and December 31, 2021 were as follows: 

	September 30,		December 31,
(In thousands)	2022		2021
Core deposit premiums:
Balance, beginning of year	$	93,862	$	97,363
Acquisitions(1)	36,500		9,295
Disposition of intangible asset(2)	—		(674)
Amortization	(10,647)		(12,122)
Balance, end of period	119,715		93,862
Books of business and other intangibles:
Balance, beginning of year	12,373		13,747
Acquisitions(3)	2,131		—
Amortization	(1,160)		(1,374)
Balance, end of period	13,344		12,373
Total other intangible assets, net	$	133,059	$	106,235

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(1)    A core deposit premium of $36.5 million was recorded during 2022 as part of the Spirit acquisition. Core deposit premiums of $5.1 million and $4.2 million were recorded during 2021 as part of the Triumph and Landmark acquisitions, respectively. See Note 2, Acquisitions, for additional information on acquisitions.

(2)    Adjustments recorded for the premiums on certain deposit liabilities associated with the sale of banking operations.

(3)    The Company recorded $2.1 million during 2022 related to servicing assets acquired as part of the Spirit acquisition. See Note 2, Acquisitions, for additional information on acquisitions.

The carrying basis and accumulated amortization of the Company’s other intangible assets at September 30, 2022 and December 31, 2021 were as follows: 

	September 30,		December 31,
(In thousands)	2022		2021
Core deposit premiums:
Gross carrying amount	$	189,996	$	153,496
Accumulated amortization	(70,281)		(59,634)
Core deposit premiums, net	119,715		93,862
Books of business and other intangibles:
Gross carrying amount	22,068		19,937
Accumulated amortization	(8,724)		(7,564)
Books of business and other intangibles, net	13,344		12,373
Total other intangible assets, net	$	133,059	$	106,235

Estimated Remaining Amortization Expense

The Company’s estimated remaining amortization expense on other intangible assets as of September 30, 2022 is as follows:

(In thousands)	Year	Amortization Expense
	Remainder of 2022	$	4,108
	2023	16,306
	2024	15,403
	2025	12,819
	2026	12,346
	Thereafter	72,077
	Total	$	133,059