Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the Carrying Amount of Goodwill

The changes in the carrying amount of goodwill as allocated to Valley's business segments, or reporting units thereof, for goodwill impairment analysis were: 

	Business Segment / Reporting Unit
	Wealth Management*		Consumer Lending		Commercial Lending		Investment Management		Total
	(in thousands)
Balance at December 31, 2015	$	20,517	$	199,119	$	314,260	$	152,443	$	686,339
Goodwill from business combinations	701		697		1,416		436		3,250
Balance at September 30, 2016	$	21,218	$	199,816	$	315,676	$	152,879	$	689,589

* Valley’s Wealth Management Division is comprised of trust, asset management, and insurance services. This reporting unit is included in the Consumer Lending segment for financial reporting purposes.

Other Intangible Assets

The following table summarizes other intangible assets as of September 30, 2016 and December 31, 2015:

	Gross Intangible Assets		Accumulated Amortization			Valuation Allowance			Net Intangible Assets
	(in thousands)
September 30, 2016
Loan servicing rights	$	68,662	$	(51,301	)	$	(746	)	$	16,615
Core deposits	61,504		(36,230		)	—			25,274
Other	4,087		(1,938		)	—			2,149
Total other intangible assets	$	134,253	$	(89,469	)	$	(746	)	$	44,038
December 31, 2015
Loan servicing rights	$	75,932	$	(59,251	)	$	(289	)	$	16,392
Core deposits	62,714		(31,934		)	—			30,780
Other	4,374		(2,664		)	—			1,710
Total other intangible assets	$	143,020	$	(93,849	)	$	(289	)	$	48,882

Estimated Future Amortization Expense

The following table presents the estimated future amortization expense of other intangible assets for the remainder of 2016 through 2020:

	Loan Servicing Rights		Core Deposits		Other
	(in thousands)
2016	$	1,308	$	1,332	$	74
2017	4,262		4,842		280
2018	3,361		4,215		249
2019	2,554		3,671		235
2020	1,952		3,127		220