Goodwill and Other Intangibles

6 Months Ended

Jun. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangibles

6. Goodwill and Other Intangibles

Changes in the carrying amount of goodwill for the periods ended June 30, 2020 and December 31, 2019 by reportable segment are as follows (in thousands):

	Commercial Banking		Institutional Banking		Personal Banking		Total
Balances as of January 1, 2020	$	59,419	$	51,332	$	70,116	$	180,867
Balances as of June 30, 2020	$	59,419	$	51,332	$	70,116	$	180,867
Balances as of January 1, 2019	$	59,419	$	51,332	$	70,116	$	180,867
Balances as of December 31, 2019	$	59,419	$	51,332	$	70,116	$	180,867

The following table lists the finite-lived intangible assets that continue to be subject to amortization as of June 30, 2020 and December 31, 2019 (in thousands):

	As of June 30, 2020
	Core Deposit Intangible Assets		Customer Relationships		Total
Gross carrying amount	$	50,059	$	89,928	$	139,987
Accumulated amortization		48,031		67,775		115,806
Net carrying amount	$	2,028	$	22,153	$	24,181

	As of December 31, 2019
	Core Deposit Intangible Assets		Customer Relationships		Total
Gross carrying amount	$	50,059	$	89,952	$	140,011
Accumulated amortization		47,140		65,274		112,414
Net carrying amount	$	2,919	$	24,678	$	27,597

During the year ended December 31, 2019, the Company acquired two corporate trust business with aggregate customer relationship intangibles of $18.1 million. During the six months ended June 30, 2020, the Company recorded a $24 thousand post-closing purchase adjustment related to one of these acquisitions.

The following table has the aggregate amortization expense recognized in each period (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Aggregate amortization expense	$	1,658	$	1,251	$	3,392	$	2,578

The following table lists estimated amortization expense of intangible assets in future periods (in thousands):

For the six months ending December 31, 2020	$	3,020
For the year ending December 31, 2021		5,408
For the year ending December 31, 2022		4,468
For the year ending December 31, 2023		3,750
For the year ending December 31, 2024		2,965