Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying Amount of Goodwill

The changes in the carrying amount of goodwill as allocated to our 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		984		1,998		615		4,298
Balance at December 31, 2016	$	21,218	$	200,103	$	316,258	$	153,058	$	690,637
Balance at December 31, 2017	$	21,218	$	200,103	$	316,258	$	153,058	$	690,637

* 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 tables summarize other intangible assets as of December 31, 2017 and 2016:

	Gross Intangible Assets		Accumulated Amortization			Valuation Allowance			Net Intangible Assets
	(in thousands)
December 31, 2017
Loan servicing rights	$	79,138	$	(57,054	)	$	(471	)	$	21,613
Core deposits	43,396		(24,297		)	—			19,099
Other	4,087		(2,292		)	—			1,795
Total other intangible assets	$	126,621	$	(83,643	)	$	(471	)	$	42,507
December 31, 2016
Loan servicing rights	$	73,002	$	(52,634	)	$	(900	)	$	19,468
Core deposits	61,504		(37,562		)	—			23,942
Other	4,087		(2,013		)	—			2,074
Total other intangible assets	$	138,593	$	(92,209	)	$	(900	)	$	45,484

Schedule of Change in Loan Servicing Rights

The following table summarizes the change in loan servicing rights during the years ended December 31, 2017, 2016 and 2015:

	2017			2016			2015
	(in thousands)
Loan servicing rights
Balance at beginning of year	$	20,368		$	16,681		$	20,446
Origination of loan servicing rights	7,039			8,479			1,696
Amortization expense	(5,323		)	(4,792		)	(5,461		)
Balance at end of year	$	22,084		$	20,368		$	16,681
Valuation allowance
Balance at beginning of year	$	(900	)	$	(289	)	$	(592	)
Impairment adjustment	429			(611		)	303
Balance at end of year	$	(471	)	$	(900	)	$	(289	)
Balance at end of year, net of valuation allowance	$	21,613		$	19,468		$	16,392

Estimated Future Amortization Expense

The following table presents the estimated amortization expense of other intangible assets over the next five-year period:

Year	Loan Servicing Rights		Core Deposits		Other
	(in thousands)
2018	$	5,180	$	4,215	$	249
2019	4,160		3,671		235
2020	3,331		3,127		220
2021	2,554		2,582		206
2022	2,039		2,038		191