Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

NOTE 11 – GOODWILL AND OTHER INTANGIBLE ASSETS

The following table shows the changes in the carrying amount of goodwill for the three months ended March 31, 2019 and 2018:

	Three Months Ended
	March 31,
(dollars in thousands)	2019		2018
Balance at beginning of period	$	1,036,258	$	828,051
Acquisition adjustments		—		753
Balance at end of period	$	1,036,258	$	828,804

Goodwill is reviewed annually for impairment. No events or circumstances since the August 31, 2018 annual impairment test were noted that would indicate it was more likely than not a goodwill impairment exists. See Note 3 to the consolidated financial statements for detail regarding changes in goodwill recorded in 2018 associated with acquisitions.

The gross carrying amount and accumulated amortization of other intangible assets at March 31, 2019 and December 31, 2018 were as follows:

	Gross		Accumulated			Net
	Carrying		Amortization			Carrying
(dollars in thousands)	Amount		and Impairment			Amount
March 31, 2019
Core deposit	$	119,051	$	(51,588	)	$	67,463
Customer trust relationships		16,547		(11,466	)		5,081
Total intangible assets	$	135,598	$	(63,054	)	$	72,544

December 31, 2018
Core deposit	$	129,100	$	(57,524	)	$	71,576
Customer trust relationships		16,547		(11,107	)		5,440
Total intangible assets	$	145,647	$	(68,631	)	$	77,016

Other intangible assets consist of core deposit intangibles and customer relationship intangibles and are being amortized primarily on an accelerated basis over their estimated useful lives, generally over a period of 5 to 15 years.

Old National reviews other intangible assets for possible impairment whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. No impairment charges were recorded during the three months ended March 31, 2019 or 2018. Total amortization expense associated with intangible assets was $4.5 million for the three months ended March 31, 2019, compared to $3.6 million for the three months ended March 31, 2018.

Estimated amortization expense for future years is as follows:

(dollars in thousands)
2019 remaining	$	12,439
2020		14,091
2021		11,336
2022		9,014
2023		7,053
Thereafter		18,611
Total	$	72,544