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Goodwill and Other Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The following table summarizes changes in the carrying amount of goodwill:
(In thousands)At March 31,
2024
At December 31,
2023
Balance, beginning of period$2,631,465 $2,514,104 
Ametros acquisition (1)
236,603 — 
interLINK acquisition— 143,216 
Bend acquisition— (294)
Sterling merger— (25,561)
Balance, end of period$2,868,068 $2,631,465 
(1)Reflects the $228.2 million of preliminary goodwill recorded in connection with the Ametros acquisition in January 2024, and $8.4 million of other adjustments.
Schedule of Finite-Lived Intangible Assets
The following table summarizes other intangible assets:
 At March 31, 2024At December 31, 2023
(In thousands)Gross Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
Gross Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
Core deposits (1)
$328,837 $59,239 $269,598 $146,037 $53,986 $92,051 
Customer relationships151,000 46,654 104,346 151,000 43,116 107,884 
Non-competition agreement 4,000 1,000 3,000 4,000 800 3,200 
Trade name (1)
6,100 203 5,897 — — — 
Total other intangible assets$489,937 $107,096 $382,841 $301,037 $97,902 $203,135 
(1)The increase in the gross carrying amount is due to the Ametros acquisition in January 2024, which resulted in the identification and recognition of a $182.8 million core deposit intangible asset and a $6.1 million trade name.
Schedule Of Future Amortization expense
The remaining estimated aggregate future amortization expense for other intangible assets is as follows:
(In thousands)
At March 31, 2024 (1)
Remainder of 2024$25,480 
202531,094 
202630,113 
202729,558 
202826,687 
Thereafter190,258 
(1)As previously discussed in Note 2: Business Developments, the Company initiated a plan to actively sell its payroll finance and factored receivables loan portfolio, along with the related customer relationship intangible assets, in March 2024. The aggregate net carrying amount of the related customer relationship intangible assets was $49.7 million at March 31, 2024, and has been excluded from the Company’s estimate of remaining future amortization expense.