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Goodwill and Other Intangible Assets
 3 Months Ended
Mar. 31, 2025
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 three months ended March 31, 2025 were as follows:
(Dollars in thousands)BankingWealth ManagementInsuranceConsolidated
Balance at December 31, 2024$138,476 $15,434 $21,600 $175,510 
Addition to goodwill from acquisitions— — — — 
Balance at March 31, 2025$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 March 31, 2025At December 31, 2024
(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$5,268 $5,124 $144 $6,788 $6,597 $191 
Customer related intangibles2,476 1,431 1,045 2,476 1,348 1,128 
Servicing rights12,421 5,549 6,872 12,274 5,284 6,990 
Total amortized intangible assets$20,165 $12,104 $8,061 $21,538 $13,229 $8,309 
(1) Included within accumulated amortization is a valuation allowance of $26 thousand and $7 thousand on servicing rights at March 31, 2025 and December 31, 2024, respectively.
The estimated aggregate amortization expense for core deposit and customer-related intangibles for the remainder of 2025 and the succeeding fiscal years is as follows:
Year(Dollars in thousands)Amount
Remainder of 2025$339 
2026318 
2027216 
2028161 
2029105 
Thereafter50 
Total$1,189 
The aggregate fair value of servicing rights was $11.4 million and $12.7 million at March 31, 2025 and December 31, 2024, respectively. The fair value of these rights was determined using a discount rate of 11.1% and 11.0% at March 31, 2025 and December 31, 2024, respectively.

Changes in the servicing rights balance are summarized as follows:
 Three Months Ended March 31,
(Dollars in thousands)20252024
Beginning of period$6,990 $8,982 
Servicing rights capitalized283 426 
Amortization of servicing rights(382)(341)
Sold servicing rights— (3,466)
Changes in valuation allowance(19)80 
End of period$6,872 $5,681 
Loans serviced for others$1,037,090 $1,480,074 
The change in loans serviced for others for the three months ended March 31, 2025 compared to the three months ended March 31, 2024 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 March 31,
(Dollars in thousands)20252024
Valuation allowance, beginning of period$(7)$(98)
Additions(19)— 
Reductions— 80 
Valuation allowance, end of period$(26)$(18)

The estimated amortization expense of servicing rights for the remainder of 2025 and the succeeding fiscal years is as follows:
Year(Dollars in thousands)Amount
Remainder of 2025$1,101 
2026925 
2027781 
2028661 
2029562 
Thereafter2,842 
Total$6,872