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Goodwill and Other Intangible Assets
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
The Corporation has goodwill from acquisitions which is deemed to be an indefinite intangible asset and is not amortized. Changes in the carrying amount of the Corporation's goodwill by business segment for the six months ended June 30, 2024 were as follows:
(Dollars in thousands)BankingWealth ManagementInsuranceConsolidated
Balance at December 31, 2023$138,476 $15,434 $21,600 $175,510 
Addition to goodwill from acquisitions— — — — 
Balance at June 30, 2024$138,476 $15,434 $21,600 $175,510 

The Corporation also has core deposit and customer-related intangibles, which are not deemed to have an indefinite life and therefore will continue to be amortized over their useful life using the present value of projected cash flows. The following table reflects the components of intangible assets at the dates indicated:
At June 30, 2024At December 31, 2023
(Dollars in thousands)Gross Carrying Amount
Accumulated Amortization (1)
Net Carrying AmountGross Carrying Amount
Accumulated Amortization (1)
Net Carrying Amount
Amortized intangible assets:
Core deposit intangibles$6,788 $6,486 $302 $6,788 $6,329 $459 
Customer related intangibles2,476 1,160 1,316 4,162 2,653 1,509 
Servicing rights11,076 4,993 6,083 30,850 21,868 8,982 
Total amortized intangible assets$20,340 $12,639 $7,701 $41,800 $30,850 $10,950 
(1) Included within accumulated amortization is a valuation allowance of $17 thousand and $98 thousand on servicing rights at June 30, 2024 and December 31, 2023, respectively.

The estimated aggregate amortization expense for core deposit and customer-related intangibles for the remainder of 2024 and the succeeding fiscal years is as follows:
Year(Dollars in thousands)Amount
Remainder of 2024$298 
2025469 
2026319 
2027216 
2028161 
Thereafter155 
Total$1,618 
The aggregate fair value of servicing rights was $11.0 million and $17.7 million at June 30, 2024 and December 31, 2023, respectively. The fair value of these rights was determined using a discount rate of 12.6% and 12.3% at June 30, 2024 and December 31, 2023, respectively. The change in the fair value of servicing rights from December 31, 2023 was primarily related to the sale of servicing rights associated with $591.1 million of serviced loans in the first quarter of 2024.
Changes in the servicing rights balance are summarized as follows:
 Three Months Ended June 30,Six Months Ended June 30,
(Dollars in thousands)2024202320242023
Beginning of period$5,681 $8,460 $8,982 $8,572 
Servicing rights capitalized537 472 963 749 
Amortization of servicing rights(136)(396)(477)(750)
Sold servicing rights— — (3,466)— 
Changes in valuation allowance1 32 81 (3)
End of period$6,083 $8,568 $6,083 $8,568 
Loans serviced for others$933,873 $1,525,320 $933,873 $1,525,320 
The change in loans serviced for others from the three and six months ended June 30, 2023 was primarily related to the sale of mortgage servicing rights associated with $591.1 million of serviced loans in the first quarter of 2024.

Activity in the valuation allowance for servicing rights was as follows:
 Three Months Ended June 30,Six Months Ended June 30,
(Dollars in thousands)2024202320242023
Valuation allowance, beginning of period$(18)$(40)$(98)$(5)
Additions— — — (3)
Reductions1 32 81 — 
Valuation allowance, end of period$(17)$(8)$(17)$(8)

The estimated amortization expense of servicing rights for the remainder of 2024 and the succeeding fiscal years is as follows:
Year(Dollars in thousands)Amount
Remainder of 2024$839 
2025732 
2026638 
2027556 
2028483 
Thereafter2,835 
Total$6,083