Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

The following table presents goodwill as of the dates presented:


	December 31,
(dollars in thousands)	2022		2021
Balance at beginning of year	$	373,424	$	373,424
Additions	—		—

Balance at End of Year	$	373,424	$	373,424

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 as of October 1, 2022, we concluded that goodwill was not impaired. No events or circumstances since the October 1, 2022 annual impairment test were noted that would indicate goodwill was impaired at December 31, 2022.

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


	December 31,
(dollars in thousands)	2022		2021
Gross carrying amount at beginning of year	$	31,340	$	31,340
Additions	—		—

Accumulated amortization	(25,962)		(24,445)
Balance at End of Year	$	5,378	$	6,895

Intangible assets of $5.4 million at December 31, 2022 relate to core deposit 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 2022 requiring an impairment analysis to be completed.

Amortization expense on finite-lived intangible assets totaled $1.5 million, $1.8 million and $2.5 million for 2022, 2021 and 2020.

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, 2022 and thereafter:


(dollars in thousands)	Amount
2023	$	1,319
2024	$	1,151
2025	$	820
2026	$	671
2027	$	562
Thereafter	$	855
Total	$	5,378