
4.	Goodwill

The following schedule discloses the changes in the carrying value of goodwill:



	Three Months ended				Nine Months ended
(Dollars in thousands)	September 30, 2012		September 30, 2011		September 30, 2012	September 30, 2011
Net carrying value at beginning of period	$	106,100	146,259		106,100	146,259
Impairment charge	—		(40,159	)	—	(40,159	)
Net carrying value at end of period	106,100		106,100		106,100	106,100

The gross carrying value of goodwill and the accumulated impairment charge consists of the following:



(Dollars in thousands)	September 30, 2012			December 31, 2011
Gross carrying value	146,259			146,259
Accumulated impairment charge	(40,159		)	(40,159	)
Net carrying value	$	106,100		106,100

Prior to April 30, 2012, the Company had eleven bank subsidiary reporting units, each of which had a goodwill impairment assessment. On April 30, 2012, the Company combined its eleven bank subsidiaries into a single commercial bank and the eleven bank division reporting units are now aggregated for assessment of goodwill impairment. The Company has identified that the divisions are components of the Glacier Bank operating segment since there are segment managers of the divisions; however, the components can be aggregated due to the components having similar economic characteristics.

The Company performed its annual goodwill impairment test during the third quarter of 2012 and determined the fair value of the aggregated reporting units exceeded the carrying value, such that the Company's goodwill was not considered impaired. Due to high levels of volatility and dislocation in prices of shares of publicly-held, exchange listed banking companies in 2011, a goodwill impairment charge was recognized by the Company during the third quarter of 2011.