GOODWILL, OTHER INTANGIBLE ASSETS AND MORTGAGE SERVICING RIGHTS (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Goodwill and Intangible Assets

The following table summarizes the changes in the Company’s goodwill and other intangibles for the nine months ended September 30, 2023, and the year ended December 31, 2022 (in thousands):

	Goodwill		CDI		Total
Balance, December 31, 2021	$	373,121	$	14,855	$	387,976
Amortization	—		(5,279)		(5,279)
Other changes(1)	—		(136)		(136)
Balance, December 31, 2022	373,121		9,440		382,561
Amortization	—		(2,898)		(2,898)
Balance, September 30, 2023	$	373,121	$	6,542	$	379,663

Schedule of Estimated Annual Amortization Expense

The following table presents the estimated amortization expense with respect to CDI as of September 30, 2023, for the periods indicated (in thousands):

	Estimated Amortization
Remainder of 2023	$	857
2024	2,626
2025	1,567
2026	904
2027	426
Thereafter	162
	$	6,542

Schedule of Servicing Assets at Amortized Value

An analysis of the mortgage and SBA servicing rights for the three and nine months ended September 30, 2023 and 2022 is presented below (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Balance, beginning of the period	$	15,111	$	17,633	$	16,166	$	17,206
Additions—amounts capitalized	638		296		1,123		3,053
Additions—through purchase	98		57		222		202
Amortization (1)	(851)		(985)		(2,525)		(3,331)
Fair value adjustments (3)	(128)		(72)		(118)		(201)
Balance, end of the period (2)	$	14,868	$	16,929	$	14,868	$	16,929

(1)    Amortization of mortgage servicing rights is recorded as a reduction of loan servicing income within mortgage banking operations and any unamortized balance is fully amortized if the loan repays in full.

(2)    There was no valuation allowance on mortgage servicing rights as of both September 30, 2023 and 2022.

(3)    Fair value adjustments relate to SBA servicing rights. These adjustments are estimated based on an independent dealer analysis by discounting estimated net future cash flows from servicing SBA loans.