GOODWILL AND OTHER INTANGIBLE ASSETS

The following table presents goodwill as of the dates presented:



	December 31,
(dollars in thousands)	2018			2017
Balance at beginning of year	$	291,670		$	291,670
Additions	—			—
Other adjustments	(4,224		)	—
Balance at End of Year	$	287,446		$	291,670

Goodwill represents the excess of the purchase price over the fair value of net assets acquired. During 2018, we sold a majority interest in our insurance business which reduced goodwill by $4.2 million.

Goodwill is reviewed for impairment annually or more frequently if it is determined that a triggering event has occurred. Based upon our qualitative assessment performed for our annual impairment analysis, we concluded that it is more likely than not that the fair value of the reporting units exceeds the carrying value. In general, the overall macroeconomic conditions and more specifically the economic conditions of the banking industry have been very good. Additionally, our overall performance has been good and we did not identify any other facts and circumstances causing us to conclude that it is more likely than not that the fair value of the reporting units would be less than the carrying value.

The following table shows a summary of intangible assets as of the dates presented:



	December 31,
(dollars in thousands)	2018			2017
Gross carrying amount at beginning of year	$	22,114		$	22,114
Additions	80			—
Other adjustments	(296		)	—
Accumulated amortization	(19,297		)	(18,437		)
Balance at End of Year	$	2,601		$	3,677

Intangible assets as of December 31, 2018 consisted of $2.6 million for core deposits and wealth management customer relationships resulting from acquisitions. We determined the amount of identifiable intangible assets for our core deposits based upon an independent valuation. Other intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. There were no triggering events in 2018 requiring an impairment analysis to be completed.

Amortization expense on finite-lived intangible assets totaled $0.9 million, $1.2 million and $1.6 million for 2018, 2017 and 2016.

The following is a summary of the expected amortization expense for finite-lived intangible assets, assuming no new additions, for each of the five years following December 31, 2018 and thereafter:



(dollars in thousands)	Amount
2019	$	661
2020	581
2021	465
2022	347
2023	278
Thereafter	269
Total	$	2,601