Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

A summary of the Company’s goodwill assets by business segment is presented in the following table:



(Dollars in thousands)	January 1, 2019		Goodwill Acquired		Impairment Loss		Goodwill Adjustments			December 31, 2019
Community banking	$	465,085	$	71,189	$	—	$	122		$	536,396
Specialty finance	38,343		—		—		1,108			39,451
Wealth management	69,713		—		—		(340		)	69,373
Total	$	573,141	$	71,189	$	—	$	890		$	645,220

The community banking segment's goodwill increased $71.3 million in 2019 as a result of the acquisition of SBC, STC and ROC. The specialty finance segment's goodwill increased $1.1 million in 2019 as a result of foreign currency translation adjustments related to the Canadian acquisitions. The wealth management segment's goodwill decreased in 2019 as a result of the subsequent measurement period adjustments related to the acquisition of CDEC.

The Company assesses each reporting unit’s goodwill for impairment on at least an annual basis and considers potential indicators of impairment at each reporting date between annual goodwill impairment tests. Annual goodwill impairment tests were historically performed as of June 30 for the Company’s community banking reporting unit and as of December 31 for the Company’s specialty finance and wealth management reporting units. At June 30, 2019, the Company utilized a qualitative approach for its annual goodwill impairment test of the community banking reporting unit and determined that it was not more likely than not that an impairment existed at that time.

During the fourth quarter of 2019, the Company voluntarily changed the dates of its annual goodwill impairment tests to October 1 for all reporting units on a prospective basis. The change was made to more closely align the impairment testing dates with the timing of the Company’s long-term planning and forecasting process.

At October 1, 2019, the Company utilized a quantitative approach for its annual goodwill impairment tests of the specialty finance and wealth management reporting units and determined that no impairment existed at that time. To ensure no more than 12 months elapsed between impairment tests, the Company utilized a qualitative approach as of October 1, 2019 for its goodwill impairment test of the community banking reporting unit and determined that it was not more likely than not that an impairment existed at that time. As of December 31, 2019, the Company identified no indicators of goodwill impairment within the community banking, specialty finance or wealth management reporting units.

A summary of finite-lived intangible assets as of the dates shown and the expected amortization as of December 31, 2019 is as follows:



	December 31,
(Dollars in thousands)	2019			2018
Community banking segment:
Core deposit and other intangibles:
Gross carrying amount	$	55,206		$	55,366
Accumulated amortization	(26,326		)	(29,406		)
Net carrying amount	$	28,880		$	25,960
Trademark with indefinite lives:
Carrying amount	5,800			5,800
Total net carrying amount	$	34,680		$	31,760
Specialty finance segment:
Customer list intangibles:
Gross carrying amount	$	1,965		$	1,958
Accumulated amortization	(1,552		)	(1,436		)
Net carrying amount	$	413		$	522
Wealth management segment:
Customer list and other intangibles:
Gross carrying amount	$	20,430		$	20,430
Accumulated amortization	(8,466		)	(3,288		)
Net carrying amount	$	11,964		$	17,142
Total intangible assets:
Gross carrying amount	$	83,401		$	83,554
Accumulated amortization	(36,344		)	(34,130		)
Total other intangible assets, net	$	47,057		$	49,424



Estimated amortization for the year-ended:
2020	$	11,017
2021	7,692
2022	6,135
2023	4,670
2024	3,263

The core deposit intangibles recognized in connection with prior bank acquisitions are amortized over a ten-year period on an accelerated basis. The customer list intangibles recognized in connection with the purchase of life insurance premium finance assets in 2009 are being amortized over an 18-year period on an accelerated basis while the customer list intangibles recognized

in connection with prior acquisitions within the wealth management segment are being amortized over a period of up to ten-years on a straight-line basis. Indefinite-lived intangible assets consist of certain trade and domain names recognized in connection with the Veterans First acquisition. As indefinite-lived intangible assets are not amortized, the Company assesses impairment on at least an annual basis.

Total amortization expense associated with finite-lived intangibles in 2019, 2018 and 2017 was $11.8 million, $4.6 million and $4.4 million, respectively.