Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

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, 2023		Adjustments		Write-off		June 30, 2024
Goodwill
Global Wealth Management	$	335,009	$	—	$	—	$	335,009
Institutional Group		1,053,234		168		—		1,053,402
	$	1,388,243	$	168	$	—	$	1,388,411

	December 31, 2023		Adjustments			Amortization			June 30, 2024
Intangible assets
Global Wealth Management	$	28,687	$	—		$	(2,226	)	$	26,461
Institutional Group		104,592		(210	)		(9,612	)		94,770
	$	133,279	$	(210	)	$	(11,838	)	$	121,231

Intangible Assets

Intangible assets as of June 30, 2024 and December 31, 2023 were as follows (in thousands):

	June 30, 2024				December 31, 2023
	Gross Carrying Value		Accumulated Amortization		Gross Carrying Value		Accumulated Amortization
Customer relationships	$	227,098	$	129,450	$	227,486	$	122,971
Trade names		30,359		23,107		30,359		22,366
Acquired technology		18,314		6,179		18,314		3,447
Non-compete agreements		10,700		9,099		10,700		8,421
Investment banking backlog		8,913		6,543		8,913		5,758
Core deposits		8,615		8,390		8,615		8,145
	$	303,999	$	182,768	$	304,387	$	171,108

Amortization Expense in Future Periods

As of June 30, 2024, we expect amortization expense in future periods to be as follows (in thousands):

Fiscal year
Remainder of 2024	$	11,317
2025		20,970
2026		16,885
2027		13,188
2028		12,230
Thereafter		44,523
	$	119,113