Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

(In Thousands)

Changes in the carrying amount of goodwill during the years ended December 31, 2015 and 2014 were as follows:



	Goodwill
Balance at December 31, 2013	$	276,100
Adjustment to previously recorded goodwill	(1,394		)
Balance at December 31, 2014	$	274,706
Addition to goodwill from Heritage acquisition	171,182
Adjustment to previously recorded goodwill	(17		)
Balance at December 31, 2015	$	445,871

The adjustment to previously recorded goodwill in 2015 reflects tax benefits associated with the exercise of stock options assumed in connection with prior acquisitions. The adjustment to previously recorded goodwill in 2014 reflects tax benefits associated with the exercise of stock options assumed in connection with prior acquisitions as well as valuation adjustments to fixed assets and branch sales associated with our purchase of First M&F.

The following table provides a summary of finite-lived intangible assets as of the dates presented:



	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
December 31, 2015
Core deposit intangible	$	45,982	$	(18,572	)	$	27,410
Customer relationship intangible	1,970		(569		)	1,401
Total finite-lived intangible assets	$	47,952	$	(19,141	)	$	28,811
December 31, 2014
Core deposit intangible	$	33,726	$	(12,635	)	$	21,091
Customer relationship intangible	1,970		(437		)	1,533
Total finite-lived intangible assets	$	35,696	$	(13,072	)	$	22,624

Aggregate amortization expense for the years ended December 31, 2015, 2014 and 2013 was $6,069, $5,606 and $2,869, respectively. The estimated amortization expense of finite-lived intangible assets for future periods is summarized as follows:



2016	$	6,458
2017	5,504
2018	4,701
2019	3,962
2020	3,112
Thereafter	5,074
Total	$	28,811

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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