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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2013
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]  
Goodwill Carrying Amounts by Operating Segment

 

 

 

 

 

 

 

 

 

2013

 

 

Community

 

Insurance

 

 

 

 

Banking

 

Agencies

 

Total

 

 

(In thousands)

Balance as of January 1, 2013

 

$          217,618

 

$          57,555

 

$            275,173

Goodwill recorded during the year

 

 -

 

11,627 

 

11,627 

Balance as of December 31, 2013

 

$          217,618

 

$          69,182

 

$            286,800

 

 

 

 

 

 

 

 

 

 

 

2012

 

 

Community

 

Insurance

 

 

 

 

Banking

 

Agencies

 

Total

 

 

(In thousands)

Balance as of January 1, 2012

 

$          217,618

 

$          53,679

 

$            271,297

Goodwill recorded during the year

 

 -

 

3,876 

 

3,876 

Balance as of December 31, 2012

 

$          217,618

 

$          57,555

 

$            275,173

 

Carrying Value and Accumulated Amortization of Identifiable Intangible Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

December 31, 2012

 

 

Gross Carrying

 

Accumulated

 

Gross Carrying

 

Accumulated

 

 

Amount

 

Amortization

 

Amount

 

Amortization

Amortized intangible assets:

 

(In thousands)

Core deposit intangibles

 

$                27,801

 

$            22,256

 

$                27,801

 

$            21,674

Customer relationship intangibles

 

46,967 

 

28,329 

 

36,239 

 

26,098 

Non-solicitation intangibles

 

1,450 

 

242 

 

525 

 

151 

Total

 

$                76,218

 

$            50,827

 

$                64,565

 

$            47,923

 

 

 

 

 

 

 

 

 

Unamortized intangible assets:

 

 

 

 

 

 

 

 

Trade names

 

$                     688

 

$                      -

 

$                     688

 

$                      -

 

Aggregate Amortization Expense

 

 

 

 

 

 

 

 

 

Year Ended

 

 

December 31,

 

 

2013

 

2012

 

2011

Aggregate amortization expense for:

 

(In thousands)

Core deposit intangibles

 

$                    582

 

$                946

 

$                 1,012

Customer relationship intangibles

 

2,231 

 

2,163 

 

2,274 

Non-solicitation intangibles

 

166 

 

113 

 

38 

Total

 

$                 2,979

 

$             3,222

 

$                 3,324

 

Future Estimated Amortization Expense

 

 

 

 

 

 

 

 

 

 

 

Core

 

Customer

 

Non-

 

 

 

 

Deposit

 

Relationship

 

Solicitation

 

 

 

 

Intangibles

 

Intangibles

 

Intangibles

 

Total

Estimated amortization expense:

 

(In thousands)

 

 

 

 

 

 

 

 

 

For the year ending December 31, 2014

 

$             526

 

$          3,241

 

$              350

 

$       4,117

For the year ending December 31, 2015

 

487 

 

2,817 

 

275 

 

3,579 

For the year ending December 31, 2016

 

451 

 

2,378 

 

200 

 

3,029 

For the year ending December 31, 2017

 

419 

 

2,107 

 

200 

 

2,726 

For the year ending December 31, 2018

 

390 

 

1,758 

 

183 

 

2,331