Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The following table provides information for intangible assets subject to amortization at the dates indicated (in thousands):



	March 31, 2020			December 31, 2019
Amortizable intangible assets:
Core deposit intangibles - gross	$	71,183		71,183
Less: accumulated amortization	(52,357		)	(50,934	)
Core deposit intangibles - net	18,826			20,249
Customer and Contract intangible assets - gross	12,775			12,775
Less: accumulated amortization	(10,176		)	(9,948	)
Customer and Contract intangible assets - net	2,599			2,827
Total intangible assets - net	$	21,425		23,076

The following table shows the actual aggregate amortization expense for the quarters ended March 31, 2020 and 2019, as well as the estimated aggregate amortization expense, based upon current levels of intangible assets, for the current fiscal year and each of the five succeeding fiscal years (in thousands):



For the quarter ended March 31, 2020	$	1,651
For the quarter ended March 31, 2019	1,447
For the year ending December 31, 2020	6,237
For the year ending December 31, 2021	5,058
For the year ending December 31, 2022	3,976
For the year ending December 31, 2023	3,016
For the year ending December 31, 2024	2,249
For the year ending December 31, 2025	1,510

The following table provides information for the changes in the carrying amount of goodwill (in thousands):



	Total
Balance at December 31, 2018	$	307,420
Goodwill acquired	38,683
Balance at December 31, 2019	346,103
Goodwill acquired	—
Balance at March 31, 2020	$	346,103

We performed our annual goodwill impairment test as of June 30, 2019 in accordance with ASC 350, as updated by ASU 2017-04, ("Step 0") and concluded that goodwill was not impaired. Quarterly, the Company evaluates whether there are any triggering events that would require an update to our previous goodwill assessment. During the current quarter, the Company determined the COVID-19 pandemic and its negative effect on the global economy to be a triggering event. As a result, the Company, with the assistance of a third-party specialist, performed a “Step 1” quantitative impairment analysis in accordance with ASU 2017-04 as of March 31, 2020. This analysis indicated the aggregate fair value of Northwest Bank, the sole reporting unit of Northwest Bancshares, Inc., exceeded the carrying value and therefore goodwill was not impaired.