Goodwill and Core Deposit Intangibles (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Change in Carrying Amount of Goodwill

The following table details changes in the recorded amount of goodwill as of the dates indicated:

	Year Ended December 31,
	2023		2022
Net carrying value at beginning of period	$	1,100.9	$	621.6
Additions to goodwill from acquisition	—		479.3
Net carrying value at end of period	$	1,100.9	$	1,100.9

The Company performed its annual impairment assessment as of July 1, 2023 and 2022 concluding there was no impairment to goodwill.

As a result of the ongoing financial services economic conditions, including changes to the interest rate environment, continued volatility in the Company’s common share price, and volatility in the Company’s overall market capitalization during the third and beginning of the fourth quarter of 2023, we performed a quantitative impairment assessment as of October 31, 2023 and concluded the fair value of our single reporting unit exceeded its respective carrying value and did not result in impairment for the reporting unit. The quantitative assessment of goodwill for the reporting unit was performed utilizing a discounted cash flow analysis (“income approach”) and estimates of selected market information (“market approaches”). The income approach measures the fair value of an interest in a business by discounting expected future cash flows to present value. The market approaches take into consideration fair values of comparable companies operating in similar lines of business that are potentially subject to similar economic and environmental factors and could be considered reasonable investment alternatives. The result of the income and market approaches were weighted in determining the fair value of the reporting unit.

There were no events or circumstances that occurred subsequent to October 31, 2023 through the reporting date that would more-likely-than-not reduce the fair value of the Company’s reporting unit below its carrying value.

Schedule of Activity of Identifiable Core Deposit Intangibles

Other intangible assets are comprised of core deposit intangibles (“CDI”) and other customer relationship intangibles (“OCRI”) and amounted to the following at December 31, 2023 and 2022:

December 31, 2023	CDI		OCRI		Total
Gross other intangible assets, at January 1, 2023	$	154.7	$	22.8	$	177.5
Accumulated amortization	(92.5)		(3.6)		(96.1)
Net other intangible assets, end of period	$	62.2	$	19.2	$	81.4
December 31, 2022
Gross other intangible assets, at January 1, 2022	$	106.0	$	—	$	106.0
Amounts established through acquisition	50.1		22.8		72.9
Reductions due to sale of health savings accounts	(1.4)		—		(1.4)
Accumulated amortization	(78.8)		(1.7)		(80.5)
Net other intangible assets, end of period	$	75.9	$	21.1	$	97.0

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table provides the estimated aggregate future amortization expense of other intangible assets:

Years ending December 31,	CDI		OCRI		Total
2024	$	12.7	$	1.9	$	14.6
2025	11.8		1.9		13.7
2026	10.9		1.9		12.8
2027	8.2		1.9		10.1
2028	5.7		1.9		7.6
Thereafter	12.9		9.7		22.6
Total	$	62.2	$	19.2	$	81.4