XML 40 R29.htm IDEA: XBRL DOCUMENT v3.25.1
Goodwill and Other Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2025
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 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 
Components of Intangible Assets 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.
Estimated Aggregate Amortization Expense
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 
Changes In Servicing Rights
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 $591.1 million of serviced loans in the first quarter of 2024.
Activity In Valuation Allowance For Servicing Rights
Activity in the valuation allowance for servicing rights was as follows:
 Three Months Ended March 31,
(Dollars in thousands)20252024
Valuation allowance, beginning of period$(7)$(98)
Additions(19)— 
Reductions— 80 
Valuation allowance, end of period$(26)$(18)
Estimated Amortization Expense of Servicing Rights
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