Goodwill and other intangible assets

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure

Goodwill And Other Intangible Assets

Note 13 – Goodwill and other intangible assets

Goodwill

There were no changes in the carrying amount of goodwill for the quarters and six months ended June 30, 2021 and 2020.

The following tables present the gross amount of goodwill and accumulated impairment losses by reportable segments:

June 30, 2021
	Balance at				Balance at
	June 30,		Accumulated		June 30,
	2021		impairment		2021
(In thousands)	(gross amounts)		losses		(net amounts)
Banco Popular de Puerto Rico	$	324,049	$	3,801	$	320,248
Popular U.S.		515,285		164,411		350,874
Total Popular, Inc.	$	839,334	$	168,212	$	671,122

December 31, 2020
	Balance at				Balance at
	December 31,		Accumulated		December 31,
	2020		impairment		2020
(In thousands)	(gross amounts)		losses		(net amounts)
Banco Popular de Puerto Rico	$	324,049	$	3,801	$	320,248
Popular U.S.		515,285		164,411		350,874
Total Popular, Inc.	$	839,334	$	168,212	$	671,122

Other Intangible Assets

At June 30, 2021 and December 31, 2020, the Corporation had $6.1 million of identifiable intangible assets with indefinite useful lives, mostly associated with the E-LOAN trademark.

The following table reflects the components of other intangible assets subject to amortization:

		Gross Carrying			Accumulated		Net Carrying
(In thousands)			Amount		Amortization		Value
June 30, 2021
	Core deposits	$	12,810	$	8,113	$	4,697
	Other customer relationships		26,677		17,098		9,579
Total other intangible assets		$	39,487	$	25,211	$	14,276
December 31, 2020
	Core deposits	$	12,810	$	7,473	$	5,337
	Other customer relationships		26,397		15,684		10,713
	Trademark		488		236		252
Total other intangible assets		$	39,695	$	23,393	$	16,302

During the quarter ended June 30, 2021, the Corporation recognized $ 1.3 million in amortization expense related to other intangible assets with definite useful lives (June 30, 2020 - $ 1.8 million). During the six months ended June 30, 2021, the Corporation recognized $ 2.3 million in amortization related to other intangible assets with definite useful lives (June 30, 2020 - $ 4.3 million).

The following table presents the estimated amortization of the intangible assets with definite useful lives for each of the following periods:

(In thousands)
Remaining 2021	$	1,440
Year 2022		2,630
Year 2023		2,630
Year 2024		2,389
Year 2025		1,200
Later years		3,987