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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2019
Goodwill [Line Items]  
Changes in Goodwill
The following table presents the changes in the carrying amount of goodwill as of December 31, 2019 and 2018:
 
Year ended December 31
(Dollars in thousands)
2019
 
2018
Beginning Balance
$
236,347

 
$
150,601

Recognized in the Biscayne Bancshares acquisition
46,521

 
—

Recognized in the First South Bancorp acquisition
13,896

 
—

Recognized in the Entegra acquisition
52,634

 
—

Recognized in HomeBancorp acquisition
—

 
57,616

Recognized in Capital Commerce acquisition
—

 
10,680

Recognized in Palmetto Heritage acquisition
—

 
17,450

Balance at December 31
$
349,398

 
$
236,347
Mortgage Servicing Rights Key Economic Assumptions Used to Value
Key economic assumptions used to value mortgage servicing rights as of December 31, 2019 and 2018, were as follows:
 
2019
 
2018
Discount rate - conventional fixed loans
8.92
%
 
9.69
%
Discount rate - all loans excluding conventional fixed loans
9.92
%
 
10.69
%
Weighted average constant prepayment rate
13.72
%
 
9.26
%
Weighted average cost to service a loan
$
87.09

 
$
87.52
Schedule of Mortgage Servicing Rights at Amortized Cost
The activity of the mortgage servicing asset for the years ended December 31, 2019, 2018 and 2017 is presented in the following table:
(Dollars in thousands)
2019
 
2018
 
2017
Balance at January 1
$
21,396

 
$
21,945

 
$
20,415

Servicing rights originated
6,149

 
5,258

 
7,174

Servicing rights acquired in Entegra transaction
1,873

 
—

 
—

Amortization
(6,233
)
 
(5,807
)
 
(5,648
)
Valuation allowance (increase) decrease
(222
)
 
—

 
4

Balance at December 31
$
22,963

 
$
21,396

 
$
21,945
Schedule of Other Intangible Assets
The following information relates to core deposit intangible assets, which are being amortized over their estimated useful lives:
(Dollars in thousands)
2019
 
2018
Balance at January 1
$
48,232

 
$
51,151

Acquired in Biscayne Bancshares transaction
4,745

 
—

Acquired in First South Bancorp transaction
2,268

 
—

Acquired in Entegra transaction
4,487

 
—

Acquired in the HomeBancorp transaction
—

 
9,860

Acquired in the Capital Commerce transaction
—

 
2,680

Acquired in the Palmetto Heritage transaction
—

 
1,706

Amortization
(16,346
)
 
(17,165
)
Balance at December 31
$
43,386

 
$
48,232

 
The gross amount of core deposit intangible assets and accumulated amortization as of December 31, 2019 and 2018, are:
(Dollars in thousands)
2019
 
2018
Gross balance
$
154,507

 
$
143,007

Accumulated amortization
(111,121
)
 
(94,775
)
Carrying value
$
43,386

 
$
48,232
Future Amortization Expense Schedule
Based on current estimated useful lives and carrying values, BancShares anticipates amortization expense for core deposit intangibles in subsequent periods will be:
(Dollars in thousands)
 
2020
$
14,165

2021
10,850

2022
7,658

2023
5,056

2024 and subsequent
5,657

 
$
43,386