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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Carrying Amount Of Goodwill And Intangible Assets

The carrying amount of goodwill and intangible assets attributable to each of our reporting segments is presented in the following table (in thousands):

 

 

December 31,
2021

 

 

Adjustments

 

 

Write-off

 

 

December 31,
2022

 

Goodwill

 

 

 

 

 

 

 

 

 

 

 

 

Global Wealth Management

 

$

335,009

 

 

$

 

 

$

 

 

$

335,009

 

Institutional Group

 

 

971,883

 

 

 

19,656

 

 

 

 

 

 

991,539

 

 

 

$

1,306,892

 

 

$

19,656

 

 

$

 

 

$

1,326,548

 

 

 

 

December 31,
2021

 

 

Adjustments

 

 

Amortization

 

 

December 31,
2022

 

Intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

Global Wealth Management

 

$

38,884

 

 

$

 

 

$

(5,385

)

 

$

33,499

 

Institutional Group

 

 

109,273

 

 

 

2,027

 

 

 

(14,210

)

 

 

97,090

 

 

 

$

148,157

 

 

$

2,027

 

 

$

(19,595

)

 

$

130,589

 

Intangible Assets Intangible assets as of December 31, 2022 and 2021, were as follows (in thousands):

 

 

December 31, 2022

 

 

December 31, 2021

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

Customer relationships

 

$

225,631

 

 

$

109,216

 

 

$

225,900

 

 

$

97,054

 

Trade names

 

 

30,359

 

 

 

20,861

 

 

 

30,359

 

 

 

17,694

 

Non-compete agreements

 

 

9,440

 

 

 

7,158

 

 

 

9,240

 

 

 

5,684

 

Core deposits

 

 

8,615

 

 

 

7,389

 

 

 

8,615

 

 

 

6,277

 

Investment banking backlog

 

 

5,545

 

 

 

4,377

 

 

 

4,245

 

 

 

3,680

 

Acquired technology

 

 

840

 

 

 

840

 

 

 

840

 

 

 

653

 

 

 

$

280,430

 

 

$

149,841

 

 

$

279,199

 

 

$

131,042

 

Amortization Expense In Future Periods As of December 31, 2022, we expect amortization expense in future periods to be as follows (in thousands):

Fiscal year

 

 

 

2023

 

$

16,680

 

2024

 

 

15,778

 

2025

 

 

13,615

 

2026

 

 

12,960

 

2027

 

 

11,749

 

Thereafter

 

 

57,689

 

 

 

$

128,471