Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

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, 2020 and 2019:


(dollars in thousands)	Balance December 31, 2019		Additions		Adjustments		Amortization		Balance December 31, 2020		Amortization Period
Goodwill – Wealth	$	20,412	$	—	$	—	$	—	$	20,412	Indefinite
Goodwill – Banking	156,991		—		—		—		156,991		Indefinite
Goodwill – Insurance	6,609		—		—		—		6,609		Indefinite
Total Goodwill	$	184,012	$	—	$	—	$	—	$	184,012
Core deposit intangible	4,598		—		—		(1,110)		3,488		10 years
Customer relationships	11,820		—		—		(1,808)		10,012		5 to 20 years
Non-compete agreements	911		—		—		(189)		722		5 to 10 years
Trade names	1,651		—		—		(460)		1,191		3 to 5 years
Domain name	151		—		—		—		151		Indefinite

Total Intangible Assets	$	19,131	$	—	$	—	$	(3,567)	$	15,564
Grand Total	$	203,143	$	—	$	—	$	(3,567)	$	199,576


(dollars in thousands)	Balance December 31, 2018		Additions		Adjustments		Amortization		Balance December 31, 2019		Amortization Period
Goodwill – Wealth	$	20,412	$	—	$	—	$	—	$	20,412	Indefinite
Goodwill – Banking	156,991		—		—		—		156,991		Indefinite
Goodwill – Insurance	6,609		—		—		—		6,609		Indefinite
Total Goodwill	$	184,012	$	—	$	—	$	—	$	184,012
Core deposit intangible	5,906		—		—		(1,308)		4,598		10 years
Customer relationships	13,607		18		—		(1,805)		11,820		5 to 20 years
Non-compete agreements	1,101		—		—		(190)		911		5 to 10 years
Trade names	2,149		—		—		(498)		1,651		3 to 5 years
Domain name	151		—		—		—		151		Indefinite
Favorable lease assets	541		—		(541)		—		—		1 to 16 years
Total Intangible Assets	$	23,455	$	18	$	(541)	$	(3,801)	$	19,131
Grand total	$	207,467	$	18	$	(541)	$	(3,801)	$	203,143

Management conducted its annual impairment tests for goodwill and indefinite-lived intangible assets as of October 31, 2020 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, 2020, 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 $3.6 million, $3.8 million, and $3.7 million for the years ended December 31, 2020, 2019, and 2018, respectively.

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
2021	$	3,343
2022	2,988
2023	2,593
2024	2,034
Thereafter	4,455