Goodwill and Intangible Assets

The following table presents activity in the Corporation's goodwill by its reporting units and finite-lived and indefinite-lived intangible assets, other than MSRs, for the years ended December 31, 2018 and 2017:



(dollars in thousands)	Balance December 31, 2017		Additions		Adjustments		Amortization			Balance December 31, 2018		Amortization Period
Goodwill – Wealth	$	20,412	$	—	$	—	$	—		$	20,412	Indefinite
Goodwill – Banking	153,545		—		3,446		—			156,991		Indefinite
Goodwill – Insurance	5,932		677		—		—			6,609		Indefinite
Total Goodwill	$	179,889	$	677	$	3,446	$	—		$	184,012
Core deposit intangible	7,380		—		—		(1,474		)	5,906		10 years
Customer relationships	14,173		1,145		—		(1,711		)	13,607		10 to 20 years
Non-compete agreements	1,319		—		—		(218		)	1,101		5 to 10 years
Trade names	2,322		—		—		(173		)	2,149		3 to 5 years
Domain name	151		—		—		—			151		Indefinite
Favorable lease assets	621		—		—		(80		)	541		1 to 16 years
Total Intangible Assets	$	25,966	$	1,145	$	—	$	(3,656	)	$	23,455
Grand Total	$	205,855	$	1,822	$	3,446	$	(3,656	)	$	207,467



(dollars in thousands)	Balance December 31, 2016		Additions		Adjustments		Amortization			Balance December 31, 2017		Amortization Period
Goodwill – Wealth	$	20,412	$	—	$	—	$	—		$	20,412	Indefinite
Goodwill – Banking	80,783		72,762		—		—			153,545		Indefinite
Goodwill – Insurance	3,570		2,362		—		—			5,932		Indefinite
Total Goodwill	$	104,765	$	75,124	$	—	$	—		$	179,889
Core deposit intangible	3,447		4,670		—		(737		)	7,380		10 years
Customer relationships	13,056		2,672		—		(1,555		)	14,173		10 to 20 years
Non-compete agreements	1,634		41		—		(356		)	1,319		5 to 10 years
Trade names	2,165		195		—		(38		)	2,322		3 years to Indefinite
Domain name	—		151		—		—			151		Indefinite
Favorable lease assets	103		566		—		(48		)	621		1 to 16 years
Total Intangible Assets	$	20,405	$	8,295	$	—	$	(2,734	)	$	25,966
Grand total	$	125,170	$	83,419	$	—	$	(2,734	)	$	205,855

Management conducted its annual impairment tests for goodwill and indefinite-lived intangible assets as of October 31, 2018 using generally accepted valuation methods. Management determined that no impairment of goodwill or indefinite-lived intangible assets was identified as a result of the annual impairment analyses. Future impairment testing will be conducted each October 31, unless a triggering event occurs in the interim that would suggest possible impairment, in which case it would be tested as of the date of the triggering event. For the two months ended December 31, 2018, management determined there were no events that would necessitate impairment testing of goodwill or indefinite-lived intangible assets.

Amortization expense on finite-lived intangible assets was $3.7 million, $2.7 million, and $3.5 million for the years ended December 31, 2018, 2017, and 2016, respectively. As of October 1, 2018, due to changes in branding strategies, the estimate of the remaining useful lives of certain trade name intangible assets were changed from indefinite to five years. The effect of this change in estimate increased amortization of intangible asset expense by $108 thousand. The estimated aggregate amortization expense related to finite-lived intangible assets for each of the five succeeding fiscal years ending December 31 is:



(dollars in thousands)	Fiscal Year Amount
Fiscal year ending
2019	$	4,065
2020	$	3,928
2021	$	3,860
2022	$	3,643
Thereafter	$	7,267