Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

(In Thousands)

The carrying amounts of goodwill by operating segments for the nine months ended September 30, 2017 were as follows:



	Community Banks		Insurance		Total
Balance at January 1, 2017	$	467,767	$	2,767	$	470,534
Addition to goodwill from acquisition	140,512		—		140,512
Adjustment to previously recorded goodwill	—		—		—
Balance at September 30, 2017	$	608,279	$	2,767	$	611,046

The addition to goodwill during 2017 represents the excess of the purchase price over the fair value of assets acquired and liabilities assumed in the Metropolitan acquisition. The Company is finalizing the fair values of certain assets, including property and equipment and taxes, related to the acquisition; as such, the recorded balance of goodwill is subject to change.

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



	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
September 30, 2017
Core deposit intangibles	$	54,958	$	(29,911	)	$	25,047
Customer relationship intangible	1,970		(799		)	1,171
Total finite-lived intangible assets	$	56,928	$	(30,710	)	$	26,218
December 31, 2016
Core deposit intangibles	$	47,992	$	(25,188	)	$	22,804
Customer relationship intangible	1,970		(700		)	1,270
Total finite-lived intangible assets	$	49,962	$	(25,888	)	$	24,074

Current year amortization expense for finite-lived intangible assets was as follows for the periods presented.



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Amortization expense for:
Core deposit intangibles	$	1,733	$	1,651	$	4,723	$	5,024
Customer relationship intangible	33		33		99		99
Total intangible amortization	$	1,766	$	1,684	$	4,822	$	5,123

The estimated amortization expense of finite-lived intangible assets for the year ending December 31, 2017 and the succeeding four years is summarized as follows:



	Core Deposit Intangibles		Customer Relationship Intangible		Total

2017	$	6,399	$	131	$	6,530
2018	6,130		131		6,261
2019	5,212		131		5,343
2020	4,186		131		4,317
2021	3,107		131		3,238

- 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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