Goodwill and Other Intangibles (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Goodwill and Other Intangible Assets

The following tables set forth the carrying amount of goodwill and other intangible assets, net of accumulated amortization by reporting unit at the dates indicated below:

	As of December 31, 2021
	Banking Business		Insurance Agency Business		Net Carrying Amount
	(In thousands)
Balances not subject to amortization
Goodwill	$	557,635	$	73,861	$	631,496
Balances subject to amortization
Insurance agency (1)	—		6,635		6,635
Core deposits	11,572		—		11,572
Total other intangible assets	11,572		6,635		18,207
Total goodwill and other intangible assets	$	569,207	$	80,496	$	649,703

(1)Insurance agency intangible assets include customer list, non-compete agreement and supplier relationship intangible assets.

	As of December 31, 2020
	Banking Business		Insurance Agency Business		Net Carrying Amount
	(In thousands)
Balances not subject to amortization
Goodwill	$	298,611	$	70,866	$	369,477
Balances subject to amortization
Insurance agency (1)	—		6,899		6,899
Core deposits	158		—		158
Total other intangible assets	158		6,899		7,057
Total goodwill and other intangible assets	$	298,769	$	77,765	$	376,534

(1)Insurance agency intangible assets include customer list, non-compete agreement and supplier relationship intangible assets.

Schedule of Goodwill Carrying Value

The changes in the carrying value of goodwill for the periods indicated were as follows:

	For the Year Ended December 31, 2021
	Banking Business		Insurance Agency Business		Net Carrying Amount
	(In thousands)
Balance at beginning of year	$	298,611	$	70,866	$	369,477
Goodwill recorded during the year (1)	259,024		2,995		262,019
Goodwill disposed of during the year	—		—		—
Balance at end of year	$	557,635	$	73,861	$	631,496

(1)The goodwill recorded during the year relates to the acquisition of Century and two insurance agencies. For additional information refer to Note 3, Mergers and Acquisitions.

	For the Year Ended December 31, 2020
	Banking Business		Insurance Agency Business		Net Carrying Amount
	(In thousands)
Balance at beginning of year	$	298,611	$	70,420	$	369,031
Goodwill recorded during the year	—		446		446
Goodwill disposed of during the year	—		—		—
Balance at end of year	$	298,611	$	70,866	$	369,477

Summary of Carrying Amount and Accumulated Amortization of Other Intangible Assets

	As of December 31,
	2021						2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(In thousands)
Insurance agency (1)	$	30,545	$	(23,910)	$	6,635	$	28,515	$	(21,616)	$	6,899
Core deposits	18,212		(6,640)		11,572		6,579		(6,421)		158
Total	$	48,757	$	(30,550)	$	18,207	$	35,094	$	(28,037)	$	7,057

(1)Insurance agency intangible assets include customer list, non-compete agreement and supplier relationship intangible assets.

Schedule of Amortization Expense

The estimated amortization expense for each of the five succeeding years and thereafter is as follows:

Year	(In thousands)
2022	$	3,131
2023	2,653
2024	2,313
2025	1,993
2026	1,712
Thereafter	6,405
Total amortization expense	$	18,207