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GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 9—GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill was $60.7 million at December 31, 2012 and 2011. No impairment loss was recognized for the periods ended December 31, 2012, 2011 and 2010.

Other intangible assets and related accumulated amortization is as follows:


	At December 31,
	2012				2011
	(in thousands)
Core deposit intangibles		$	12,798			$	15,204
Trade name			4,000				4,000
Contracts and customer relationship intangible			—				3,600
			16,798				22,804
Less accumulated amortization			(9,906	)			(8,917	)
		$	6,892			$	13,887

Core deposit intangibles, net of accumulated amortization, were $5.2 million at December 31, 2012 and $8.5 million at December 31, 2011. Amortization expense was $1.5 million and $1.6 million for the years ended December 31, 2012 and 2011, respectively. A pre-tax impairment charge of $1.8 million was recorded in 2012 to fully charge-off the EPS division core deposit intangible due to the Company’s decision to wind down the operations of this division.

Trade name, net of accumulated amortization, was $1.7 million at December 31, 2012 and $2.1 million at December 31, 2011 representing the fair value of the Bank name recorded as part of the acquisition of FCB. Amortization expense for each of the years ended December 31, 2012 and 2011 was $0.4 million.

A contracts and customer relationship intangible of $3.6 million was recognized related to the EPS division acquisition. The balance of this intangible was $3.3 million at December 31, 2011. Amortization expense was $0.4 million and $0.3 million for the years ended December 31, 2012 and 2011, respectively. A pre-tax impairment charge for the balance of $3.0 million was recorded in 2012 due to the results of the Company’s impairment assessment.

Amortization expense of other intangibles for 2012, 2011 and 2010 was $2.2 million, $2.3 million and $1.7 million, respectively. Estimated amortization expense for the next 5 years and thereafter is expected to be as follows:


Year	Amount
	(in thousands)
2013	$	1,502
2014		1,502
2015		1,474
2016		1,357
2017		542
Thereafter		515
	$	6,892

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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