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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2013
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]  
Goodwill Carrying Amounts by Operating Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Community

 

Insurance

 

 

 

 

Banking

 

Agencies

 

Total

 

 

 

 

 

 

 

 

 

(In thousands)

Balance as of December 31, 2012

 

$      217,618

 

$     57,555

 

$     275,173

Goodwill recorded during the period

 

 -

 

 -

 

 -

Purchase accounting adjustments

 

 -

 

 -

 

 -

Balance as of June 30, 2013

 

$      217,618

 

$     57,555

 

$     275,173

 

Carrying Value and Accumulated Amortization of Identifiable Intangible Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of

 

As of

 

 

June 30, 2013

 

December 31, 2012

 

 

Gross Carrying

 

Accumulated

 

Gross Carrying

 

Accumulated

 

 

Amount

 

Amortization

 

Amount

 

Amortization

 

 

 

 

 

 

 

 

 

Amortized intangible assets:

 

(In thousands)

Core deposit intangibles

 

$          27,801

 

$          21,975

 

$          27,801

 

$          21,674

Customer relationship intangibles

 

36,239 

 

27,187 

 

36,239 

 

26,098 

Non-solicitation intangibles

 

525 

 

226 

 

525 

 

151 

Total

 

$          64,565

 

$          49,388

 

$          64,565

 

$          47,923

 

 

 

 

 

 

 

 

 

Unamortized intangible assets:

 

 

 

 

 

 

 

 

Trade names

 

$               688

 

$                    -

 

$               688

 

$                    -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Six months ended

 

 

June 30,

 

June 30,

 

 

2013

 

2012

 

2013

 

2012

 

 

 

 

 

 

 

 

 

Aggregate amortization expense for:

 

(In thousands)

Core deposit intangibles

 

$              144

 

$              242

 

$              301

 

$              476

Customer relationship intangibles

 

540 

 

511 

 

1,089 

 

1,009 

Non-solicitation intangibles

 

38 

 

 

75 

 

19 

Total

 

$              722

 

$              762

 

$           1,465

 

$           1,504

 

Future Estimated Amortization Expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer

 

Non-

 

 

 

 

Core Deposit

 

Relationship

 

Solicitation

 

 

 

 

Intangibles

 

Intangibles

 

Intangibles

 

Total

 

 

 

 

 

 

 

 

 

Estimated Amortization Expense:

 

(In thousands)

For year ending December 31, 2013

 

$              582

 

$           2,101

 

$              150

 

$           2,833

For year ending December 31, 2014

 

526 

 

1,820 

 

150 

 

2,496 

For year ending December 31, 2015

 

487 

 

1,497 

 

75 

 

2,059 

For year ending December 31, 2016

 

451 

 

1,161 

 

 -

 

1,612 

For year ending December 31, 2017

 

419 

 

992 

 

 -

 

1,411