Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Goodwill

The following table summarizes changes in the carrying amount of goodwill:

	At December 31,
(In thousands)	2022		2021
Balance, beginning of period	$	538,373	$	538,373
Sterling merger	1,939,765		—
Bend acquisition	35,966		—
Balance, end of period	$	2,514,104	$	538,373

Information regarding goodwill by reportable segment can be found within Note 21: Segment Reporting.

Other Intangible Assets

The following table summarizes other intangible assets:

	At December 31,
	2022						2021
(In thousands)	Gross Carrying Amount (1)		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Core deposits	$	146,037	$	36,710	$	109,327	$	26,625	$	18,516	$	8,109
Customer relationships	115,000		24,985		90,015		21,000		11,240		9,760
Other intangible assets	$	261,037	$	61,695	$	199,342	$	47,625	$	29,756	$	17,869

(1)The increase in the gross carrying amount of other intangible assets is primarily attributed to the merger with Sterling and acquisition of Bend, in which the Company recorded a combined $119.1 million in core deposits and $94.0 million of customer relationships. These other intangible assets are being amortized on an accelerated basis over a period of 10 years.

The remaining estimated aggregate future amortization expense for other intangible assets is as follows:

(In thousands)	At December 31, 2022
2023	$	30,362
2024	24,481
2025	21,487
2026	21,487
2027	21,487
Thereafter	80,038