Goodwill and Other Acquisition-Related Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Changes in the carrying amount of People’s United’s goodwill are summarized as follows:


	Operating Segment
(in millions)	Commercial Banking		Retail Banking		Wealth Management		Total
Balance at December 31, 2017	$	1,600.3	$	720.1	$	91.0	$	2,411.4
Acquisition of:
First Connecticut	135.2		115.2		—		250.4
Vend Lease	23.9		—		—		23.9
Balance at December 31, 2018	1,759.4		835.3		91.0		2,685.7
Acquisition of:
United Financial	120.5		83.8		—		204.3
BSB Bancorp	49.3		95.6		—		144.9
VAR	37.5		—		—		37.5
Write-down relating to the sale of branches (1)	(0.6)		(3.8)		(2.5)		(6.9)
Balance at December 31, 2019	$	1,966.1	$	1,010.9	$	88.5	$	3,065.5

The following is a summary of People’s United’s other acquisition-related intangible assets:


	2019										2018
As of December 31 (in millions)	Gross Amount		Accumulated Amortization		Carrying Amount		Gross Amount		Accumulated Amortization		Carrying Amount
Intangibles amortized:
Core deposit intangible	$	303.9	$	177.3	$	126.6	$	222.9	$	157.4	$	65.5
Trade name intangible	123.9		73.4		50.5		123.9		64.8		59.1
Client relationships	24.4		6.4		18.0		24.4		4.4		20.0
Trust relationships	42.7		35.1		7.6		42.7		31.3		11.4
Insurance relationships	38.1		34.3		3.8		38.1		33.6		4.5
Favorable lease agreements	2.9		0.6		2.3		2.9		0.3		2.6
Non-compete agreements	0.6		0.3		0.3		0.6		0.2		0.4
Total	$	536.5	$	327.4	209.1		$	455.5	$	292.0	163.5
Mutual fund management contracts (not amortized)					—						16.5
Total other acquisition-related intangible assets					$	209.1					$	180.0