XML 43 R28.htm IDEA: XBRL DOCUMENT v3.3.0.814
Goodwill and Other Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Changes in Carrying Amount of Goodwill
Changes in the carrying amount of the Corporation's goodwill by business segment for the nine months ended September 30, 2015 were as follows:
(Dollars in thousands)
Banking
 
Wealth Management
 
Insurance
 
Consolidated
Balance at December 31, 2014
$
35,058

 
$
15,434

 
$
17,225

 
$
67,717

Addition to goodwill from acquisitions
43,516

 

 
1,424

 
44,940

Balance at September 30, 2015
$
78,574

 
$
15,434

 
$
18,649

 
$
112,657

Components of Intangible Assets
The following table reflects the components of intangible assets at the dates indicated:
 
At September 30, 2015
 
At December 31, 2014
(Dollars in thousands)
Gross Carrying Amount
 
Accumulated Amortization and Fair Value Adjustments
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization and Fair Value Adjustments
 
Net Carrying Amount
Amortized intangible assets:
 
 
 
 
 
 
 
 
 
 
 
Core deposit intangibles
$
1,520

 
$
207

 
$
1,313

 
$

 
$

 
$

Customer related intangibles
14,227

 
8,244

 
5,983

 
13,397

 
6,726

 
6,671

Mortgage servicing rights
11,805

 
6,033

 
5,772

 
10,559

 
5,050

 
5,509

Total amortized intangible assets
$
27,552

 
$
14,484

 
$
13,068

 
$
23,956

 
$
11,776

 
$
12,180

Estimated Aggregate Amortization Expense
The estimated amortization expense of mortgage servicing rights for the remainder of 2015 and the succeeding fiscal years is as follows:
Year
(Dollars in thousands)
Amount
Remainder of 2015
 
$
229

2016
 
885

2017
 
761

2018
 
649

2019
 
550

Thereafter
 
2,698

The estimated aggregate amortization expense for core deposit and customer related intangibles for the remainder of 2015 and the succeeding fiscal years is as follows:
Year
(Dollars in thousands)
Amount
Remainder of 2015
 
$
553

2016
 
1,871

2017
 
1,544

2018
 
1,170

2019
 
847

Thereafter
 
1,311

Changes in Mortgage Servicing Rights
Changes in the mortgage servicing rights balance are summarized as follows:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(Dollars in thousands)
2015
 
2014
 
2015
 
2014
Beginning of period
$
5,696

 
$
5,378

 
$
5,509

 
$
5,519

Servicing rights capitalized
365

 
365

 
1,246

 
724

Amortization of servicing rights
(289
)
 
(561
)
 
(983
)
 
(1,068
)
Changes in valuation allowance

 
243

 

 
250

End of period
$
5,772

 
$
5,425

 
$
5,772

 
$
5,425

Mortgage loans serviced for others
$
848,160

 
$
779,701

 
$
848,160

 
$
779,701

Activity in Valuation Allowance for Mortgage Servicing Rights
Activity in the valuation allowance for mortgage servicing rights was as follows:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(Dollars in thousands)
2015
 
2014
 
2015
 
2014
Valuation allowance, beginning of period
$

 
$
(243
)
 
$

 
$
(250
)
Additions

 

 

 

Reductions

 
243

 

 
250

Direct write-downs

 

 

 

Valuation allowance, end of period
$

 
$

 
$

 
$