Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 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		September 30, 2024
Goodwill
Global Wealth Management	$	335,009	$	—	$	—	$	335,009
Institutional Group		1,053,234		5,848		—		1,059,082
	$	1,388,243	$	5,848	$	—	$	1,394,091

	December 31, 2023		Adjustments		Amortization			September 30, 2024
Intangible assets
Global Wealth Management	$	28,687	$	—	$	(3,305	)	$	25,382
Institutional Group		104,592		1,598		(14,405	)		91,785
	$	133,279	$	1,598	$	(17,710	)	$	117,167

Intangible Assets

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

	September 30, 2024				December 31, 2023
	Gross Carrying Value		Accumulated Amortization		Gross Carrying Value		Accumulated Amortization
Customer relationships	$	229,320	$	133,214	$	227,486	$	122,971
Trade names		30,359		23,477		30,359		22,366
Acquired technology		18,314		7,635		18,314		3,447
Non-compete agreements		10,700		9,314		10,700		8,421
Investment banking backlog		8,913		6,935		8,913		5,758
Core deposits		8,615		8,479		8,615		8,145
	$	306,221	$	189,054	$	304,387	$	171,108

Amortization Expense in Future Periods

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

Fiscal year
Remainder of 2024	$	5,558
2025		21,109
2026		17,005
2027		13,308
2028		12,350
Thereafter		45,719
	$	115,049