Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of core deposit intangibles and other intangibles

For CDIs and other intangibles, changes in the gross carrying amount, accumulated amortization, and net book value were as follows:

($ in Thousands)	Nine months ended Sep 30, 2021		Year Ended Dec 31, 2020
Core deposit intangibles
Gross carrying amount at the beginning of period	$	88,109	$	80,730
Additions during the period	—		7,379
Accumulated amortization	(27,814)		(21,205)
Net book value	$	60,296	$	66,904
Amortization during the period	$	6,608	$	8,749
Other intangibles
Gross carrying amount at the beginning of period	$	2,000	$	38,970
Additions during the period	—		200
Reductions due to sale	(1,317)		(17,435)
Accumulated amortization	(683)		(20,385)
Net book value	$	—	$	1,350
Amortization during the period	$	33	$	1,443

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 MSRs asset and the MSRs valuation allowance is as follows:

($ in Thousands)	Nine months ended Sep 30, 2021			Year Ended Dec 31, 2020
Mortgage servicing rights
Mortgage servicing rights at beginning of period	$	59,967		$	67,607
Additions from acquisition	—			1,357
Additions	11,761			13,667
Amortization	(15,624)			(22,664)
Mortgage servicing rights at end of period	$	56,104		$	59,967
Valuation allowance at beginning of period	$	(18,006)		$	(302)
(Additions) recoveries, net	12,231			(17,704)
Valuation allowance at end of period	$	(5,775)		$	(18,006)
Mortgage servicing rights, net	$	50,329		$	41,961
Fair value of mortgage servicing rights	$	50,373		$	41,990
Portfolio of residential mortgage loans serviced for others (“servicing portfolio”)	$	7,057,130		$	7,743,956
Mortgage servicing rights, net to servicing portfolio	0.71		%	0.54		%
Mortgage servicing rights expense(a)	$	3,393		$	40,369

(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 on 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		Mortgage Servicing Rights
Three Months Ending December 31, 2021	$	2,203	$	2,945
2022	8,811		10,898
2023	8,811		8,500
2024	8,811		6,795
2025	8,811		5,499
2026	8,811		4,489
Beyond 2026	14,038		16,978
Total Estimated Amortization Expense	$	60,296	$	56,104