GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS     

The following table sets forth the carrying value of goodwill and other intangible assets, net of accumulated amortization, at December 31:

	2019		2018
	(Dollars in thousands)
Balances not subject to amortization
Goodwill	$	506,206	$	256,105
Balances subject to amortization
Core deposit intangibles	28,016		13,692
Other intangible assets	1,270		1,558
Total other intangible assets	29,286		15,250
Total goodwill and other intangible assets	$	535,492	$	271,355

 

The changes in the carrying value of goodwill for the periods indicated were as follows:

	2019		2018
	(Dollars in thousands)
Balance at beginning of year	$	256,105	$	231,806
Acquisitions	250,101		24,299
Balance at end of year	$	506,206	$	256,105

The gross carrying amount and accumulated amortization of other intangible assets were as follows at the dates indicated:

	December 31
	2019							2018
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in thousands)
Core deposit intangibles	$	45,245	$	(17,229	)	$	28,016	$	34,137	$	(20,445	)	$	13,692
Other intangible assets	3,338		(2,068		)	1,270		3,103		(1,545		)	1,558
Total	$	48,583	$	(19,297	)	$	29,286	$	37,240	$	(21,990	)	$	15,250

 

Amortization of intangible assets was $6.8 million, $2.7 million, and $3.5 million at December 31, 2019, 2018, and 2017, respectively.

The following table sets forth the estimated annual amortization expense of intangible assets for each of the next five years:

Year	Amount
	(Dollars in thousands)
2020	$	6,179
2021	$	5,315
2022	$	4,539
2023	$	3,948
2024	$	3,162

The original weighted average amortization period for intangible assets is 9.8 years.