Goodwill And Other Intangible Assets

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Other Intangible Assets

Goodwill and Other Intangible Assets

The following table presents information about the Company's intangible assets which have estimable useful lives.

	September 30, 2019										December 31, 2018
(In thousands)	Gross Carrying Amount		Accumulated Amortization			Valuation Allowance			Net Amount		Gross Carrying Amount		Accumulated Amortization			Valuation Allowance		Net Amount
Amortizable intangible assets:
Core deposit premium	$	31,270	$	(29,366	)	$	—		$	1,904	$	31,270	$	(28,954	)	$	—	$	2,316
Mortgage servicing rights	12,198		(4,559		)	(404		)	7,235		10,339		(3,861		)	—		6,478
Total	$	43,468	$	(33,925	)	$	(404	)	$	9,139	$	41,609	$	(32,815	)	$	—	$	8,794

Aggregate amortization expense on intangible assets was $395 thousand and $318 thousand for the three month periods ended September 30, 2019 and 2018, respectively, and $1.1 million and $952 thousand for the nine month periods ended September 30, 2019 and 2018, respectively. The following table shows the estimated annual amortization expense for the next five fiscal years. This expense is based on existing asset balances and the interest rate environment as of September 30, 2019. The Company’s actual amortization expense in any given period may be different from the estimated amounts depending upon the acquisition of intangible assets, changes in mortgage interest rates, prepayment rates and other market conditions.

(In thousands)
2019	$	1,494
2020	1,441
2021	1,210
2022	1,025
2023	851

Changes in the carrying amount of goodwill and net other intangible assets for the nine month period ended September 30, 2019 are as follows:

(In thousands)	Goodwill		Core Deposit Premium			Mortgage Servicing Rights
Balance January 1, 2019	$	138,921	$	2,316		$	6,478
Originations	—		—			1,859
Amortization	—		(412		)	(698		)
Impairment	—		—			(404		)
Balance September 30, 2019	$	138,921	$	1,904		$	7,235

Goodwill allocated to the Company’s operating segments at September 30, 2019 and December 31, 2018 is shown below.

(In thousands)
Consumer segment	$	70,721
Commercial segment	67,454
Wealth segment	746
Total goodwill	$	138,921