Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

The net carrying amount for goodwill at December 31, 2020 was $538.4 million, comprised of $516.6 million in Community Banking and $21.8 million in HSA Bank. There was no change to these carrying amounts during 2020 or 2019.

Other intangible assets by reportable segment consisted of the following:

	At December 31,
	2020						2019
(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Other intangible assets:
HSA Bank - Core deposits	$	26,625	$	15,618	$	11,007	$	22,000	$	13,073	$	8,927
HSA Bank - Customer relationships	21,000		9,624		11,376		21,000		8,010		12,990
Total other intangible assets	$	47,625	$	25,242	$	22,383	$	43,000	$	21,083	$	21,917

The change in gross carrying amount for core deposits resulted from the HSA division of Webster Bank completing a purchase of low cost, long duration, health savings account deposits on July 30, 2020. The transaction gave rise to the recognition of a core deposit intangible asset, recorded at fair value, with an estimated useful life of 9 years.

At December 31, 2020, the remaining estimated aggregate future amortization expense for other intangible assets is as follows:

(In thousands)
2021	$	4,513
2022	4,411
2023	4,315
2024	2,084
2025	2,084
Thereafter	4,976