Goodwill and Acquired Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangible Assets

Goodwill and Acquired Intangible Assets

The following table presents changes in the carrying amount of goodwill:

	For the Year Ended December 31,
(In thousands)	2019		2018		2017
Beginning of year	$	204,753	$	147,578	$	64,649
Changes from business combinations	533		57,175		82,929
Total	$	205,286	$	204,753	$	147,578

The Company performs an analysis for goodwill impairment on an annual basis. Based on the analysis performed in the fourth quarter, the Company has concluded goodwill was not impaired as of December 31, 2019 and 2018.

Acquired intangible assets consist of core deposit intangibles ("CDI"), which are intangible assets arising from the purchase of deposits separately or from bank acquisitions. The change in balance for CDI is as follows:

	For the Year Ended December 31,
(In thousands)	2019			2018			2017
Beginning of year	$	24,807		$	18,937		$	14,572
Acquired CDI, including measurement period adjustments	(676		)	10,170			7,726
Amortization expense	(5,826		)	(4,300		)	(3,361		)
End of year	$	18,305		$	24,807		$	18,937
(In months)
Remaining average amortization period for CDI	47			58			63

The gross carrying amount and accumulated amortization of the Company's CDI subject to amortization as of:

	December 31, 2019					December 31, 2018
(In thousands)	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Deposit base	$	36,015	$	(17,710	)	$	36,691	$	(11,884	)

The annual amortization expense for the Company's CDI determined using the straight line method for each of the five years subsequent to December 31, 2019 is $5.7 million, $4.5 million, $4.0 million, $3.3 million and $0.6 million, respectively.

Mortgage servicing rights ("MSRs") retained from the sale of Small Business Administration ("SBA") guarantees totaled $1.8 million and $1.1 million at December 31, 2019 and 2018, respectively.