XML 113 R33.htm IDEA: XBRL DOCUMENT v3.19.3
Goodwill and Other Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of core deposit intangibles and other intangibles For CDI and other intangibles, changes in the gross carrying amount, accumulated amortization, and net book value were as follows:
($ in Thousands)
Nine Months Ended September 30, 2019
 
Year Ended December 31, 2018
Core deposit intangibles
 
 
 
Gross carrying amount
$
80,730

 
$
58,100

Accumulated amortization
(10,438
)
 
(5,326
)
Net book value
$
70,292

 
$
52,774

Additions during the period
$
22,630

 
$
58,100

Amortization during the year
$
5,112

 
$
5,326

Other intangibles
 
 
 
Gross carrying amount
$
44,887

 
$
44,931

Reductions due to sale
(140
)
 
(43
)
Accumulated amortization
(23,950
)
 
(21,825
)
Net book value
$
20,797

 
$
23,062

Additions during the period
$
—

 
$
10,359

Amortization during the year
$
2,125

 
$
2,833
Summary of changes in balance of mortgage servicing rights asset and mortgage servicing rights valuation allowance
A summary of changes in the balance of the MSR asset and the MSR valuation allowance is as follows:
($ in Thousands)
Nine Months Ended September 30, 2019
 
Year Ended December 31, 2018
Mortgage servicing rights
 
 
 
Mortgage servicing rights at beginning of period
$
68,433

 
$
59,168

Additions from acquisition
—

 
8,136

Additions
8,900

 
10,722

Amortization
(8,749
)
 
(9,594
)
Mortgage servicing rights at end of period
$
68,584

 
$
68,433

Valuation allowance at beginning of period
$
(239
)
 
$
(784
)
(Additions) recoveries, net
(177
)
 
545

Valuation allowance at end of period
$
(416
)
 
$
(239
)
Mortgage servicing rights, net
$
68,168

 
$
68,193

Fair value of mortgage servicing rights
$
70,241

 
$
81,012

Portfolio of residential mortgage loans serviced for others (“servicing portfolio”)
$
8,688,012

 
$
8,600,983

Mortgage servicing rights, net to servicing portfolio
0.78
%
 
0.79
%
Mortgage servicing rights expense(a)
$
8,926

 
$
9,049


(a) Includes the amortization of mortgage servicing rights and additions / recoveries to the valuation allowance of mortgage servicing rights, and is a component of mortgage banking, net in the consolidated statements of income
Summary of estimated future amortization expense The following table shows the estimated future amortization expense for amortizing intangible assets:
($ in Thousands)

Core Deposit Intangibles
 
Other Intangibles
 
Mortgage Servicing Rights
Three Months Ending December 31, 2019
$
2,018

 
$
693

 
$
3,234

2020
8,073

 
2,690

 
12,262

2021
8,073

 
2,666

 
10,074

2022
8,073

 
2,642

 
8,259

2023
8,073

 
2,623

 
6,777

2024
8,073

 
2,603

 
5,574

Beyond 2024
27,909

 
6,879

 
22,403

Total Estimated Amortization Expense
$
70,292

 
$
20,797

 
$
68,584