Goodwill and Core Deposit Intangibles

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Management analyzes its goodwill for impairment on an annual basis and between annual tests in certain circumstances, such as upon material adverse changes in legal, business, regulatory, and economic factors. An impairment loss is recorded to the extent that the carrying amount of goodwill exceeds its implied fair value. The Company performed an impairment assessment as of July 1, 2018 and 2017 and concluded that there was no impairment to goodwill.

The following table presents goodwill as of the dates indicated:



	June 30, 2019			December 31, 2018
Net carrying value at beginning of the period	$	546.7		$	444.7
Addition to provisional goodwill from acquisition	77.2			100.8
Measurement period adjustment to previously recorded goodwill	(0.4		)	1.2
Net carrying value at end of period	$	623.5		$	546.7

The following table presents Core deposit intangibles (“CDI”) as of the dates indicated:



	June 30, 2019			December 31, 2018
Gross CDI, at beginning of the period	$	89.7		$	74.0
Established through acquisitions or provisional adjustments	16.6			15.7
Reductions due to sale of accounts	(0.3		)	—
Accumulated amortization	(38.1		)	(32.8		)
Net CDI, end of period	$	67.9		$	56.9

The Company recorded $3.0 million and $1.7 million of CDI amortization expense for the three months ended June 30, 2019 and 2018, and $5.3 million and $3.5 million for the six months ended June 30, 2019 and 2018.

CDI are evaluated for impairment if events and circumstances indicate a possible impairment and are amortized using an accelerated method based on the estimated weighted average useful lives of the related deposits, which is generally ten years.

The following table provides the estimated future CDI amortization expense:



Years Ending December 31,
2019 remaining	$	5.9
2020	10.8
2021	9.9
2022	9.0
2023	8.2
Thereafter	24.1
Total	$	67.9