Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

(In Thousands)

The carrying amounts of goodwill by operating segments for the three months ended March 31, 2023 were as follows:

	Community Banks		Insurance		Total
Balance at January 1, 2023	$	988,941	$	2,767	$	991,708
Deductions to goodwill and other adjustments	(43)		—		(43)
Balance at March 31, 2023	$	988,898	$	2,767	$	991,665

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

	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
March 31, 2023
Core deposit intangibles	$	82,492	$	(65,431)	$	17,061
Customer relationship intangible	7,670		(1,981)		5,689
Total finite-lived intangible assets	$	90,162	$	(67,412)	$	22,750
December 31, 2022
Core deposit intangibles	$	82,492	$	(64,339)	$	18,153
Customer relationship intangible	7,670		(1,647)		6,023
Total finite-lived intangible assets	$	90,162	$	(65,986)	$	24,176

Current year amortization expense for finite-lived intangible assets is presented in the table below.

	Three Months Ended
	March 31,
	2023		2022
Amortization expense for:
Core deposit intangibles	$	1,092	$	1,321
Customer relationship intangible	334		45
Total intangible amortization	$	1,426	$	1,366

The estimated amortization expense of finite-lived intangible assets for the year ending December 31, 2023 and the succeeding four years is summarized as follows:

	Core Deposit Intangibles		Customer Relationship Intangible		Total
2023	$	4,043	$	1,337	$	5,380
2024	3,498		1,192		4,690
2025	3,102		1,048		4,150
2026	2,899		860		3,759
2027	2,774		628		3,402