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Other Intangible Assets
3 Months Ended
Mar. 31, 2014
Other Intangible Assets [Abstract]  
Other Intangible Assets

 

(5)Other Intangible Assets

 

Other intangible assets with finite lives are amortized over their respective estimated useful lives to their estimated residual values. As of March 31, 2014, the Company had intangible assets comprised of its core deposit intangible assets and a customer relationship intangible asset.

 

The following table presents the gross amounts of core deposit intangible assets and a customer relationship intangible asset and the related accumulated amortization at the dates indicated: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31,

 

 

December 31,

 

Useful Life

 

 

2014

 

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

Core deposit intangible assets

7 - 15 years

 

$

62,975 

 

$

62,975 

Core deposit intangible assets accumulated amortization

 

 

 

(59,139)

 

 

(58,611)

Core deposit intangible assets, net

 

 

$

3,836 

 

$

4,364 

 

 

 

 

 

 

 

 

Customer relationship intangible asset

10 years

 

 

2,524 

 

 

2,524 

Customer relationship intangible asset accumulated amortization

 

 

 

(421)

 

 

(358)

Customer relationship intangible asset, net

 

 

$

2,103 

 

$

2,166 

 

 

 

 

 

 

 

 

Total other intangible assets, net

 

 

$

5,939 

 

$

6,530 

 

         

Following is the aggregate amortization expense recognized in each period:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

 

 

 

 

2014

 

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

Amortization expense

 

 

$

591 

 

$

707