Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

The carrying amount of goodwill and other intangible assets is summarized below as of the dates indicated (in thousands):

	December 31,
	2019			2018
Core deposit intangible (1)	$	32,802		$	62,652
Less: accumulated amortization (1)	(17,980		)	(46,141		)
Net core deposit intangible	14,822			16,511
Noncompete agreement	3,144			3,144
Less: accumulated amortization	(3,144		)	(2,695		)
Net noncompete agreement	—			449
Total intangibles subject to amortization, net	14,822			16,960
Goodwill	327,425			307,112
Total goodwill and other intangible assets, net	$	342,247		$	324,072

 

⁽¹⁾ Balances for 2019 exclude fully amortized core deposit intangibles.

The following is a summary of changes in the carrying amounts of goodwill for the years indicated (in thousands):

	Goodwill (1)
December 31, 2017	$	220,591
Acquisition of Navitas	87,379
Measurement period adjustments - FOFN and HCSB	(858		)
December 31, 2018	307,112
Acquisition of FMBT	20,313
December 31, 2019	$	327,425

⁽¹⁾ Goodwill balances presented as of December 31, 2019, 2018, and 2017 are shown net of accumulated impairment losses of $306 million incurred prior to 2017. Gross goodwill for December 31, 2019, 2018, and 2017 totaled $633 million, $613 million and $526 million, respectively.

The estimated aggregate amortization expense for future periods for core deposit intangibles is as follows (in thousands): 

Year
2020	$	3,842
2021	3,019
2022	2,379
2023	1,852
2024	1,431
Thereafter	2,299
Total	$	14,822