Other Intangibles

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Other Intangibles

OTHER INTANGIBLES

Core deposit intangibles and other intangibles are recorded on the acquisition date of an entity. During the one-year measurement period, the Corporation may record subsequent adjustments to these intangibles for provisional amounts recorded at the acquisition date. The MBT acquisition on September 1, 2019 resulted in a core deposit intangible of $16,527,000. Details regarding the MBT acquisition are discussed in NOTE 2. ACQUISITION of these Notes to Consolidated Financial Statements.

The carrying basis and accumulated amortization of recognized core deposit and other intangibles are noted below.

	2019			2018
Gross carrying amount	$	85,869		$	85,869
Core deposit intangible acquired	16,527			—
Accumulated amortization	(67,434		)	(61,440		)
Core Deposit and Other Intangibles	$	34,962		$	24,429

The core deposit intangibles and other intangibles are being amortized primarily on an accelerated basis over their estimated useful lives, generally over a period of two to ten years. Amortization expense for the years ended December 31, 2019, 2018 and 2017, was $5,994,000, $6,719,000 and $5,647,000, respectively.

Estimated future amortization expense is summarized as follows:

	Amortization Expense
2020	$	5,987
2021	5,429
2022	5,027
2023	4,827
2024	4,241
After 2024	9,451
	$	34,962