Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

On August 15, 2012, the Company acquired a majority voting interest in a Delaware limited liability corporation and its wholly-owned subsidiary, a Tulsa-based aircraft parts supplier and repair facility. This company divested a portion of its business in 2013, included associated goodwill.

On August 19, 2012, the Company acquired The Milestone Group, Inc. ("Milestone"), a Denver-based Registered Investment Adviser that provides wealth management services to high net worth customers in Colorado and Nebraska.

The purchase price for these acquisitions totaled $37 million, including $24 million paid in cash and $13 million of contingent consideration. The purchase price allocation included $21 million of identifiable intangible assets and $29 million of goodwill.

The following table presents the original cost and accumulated amortization of intangible assets (in thousands):



	December 31,
	2013		2012
Core deposit premiums	$	33,749	$	33,749
Less accumulated amortization	32,656		32,180
Net core deposit premiums	1,093		1,569

Other identifiable intangible assets	37,992		38,191
Less accumulated amortization	14,521		11,568
Net other identifiable intangible assets	23,471		26,623

Total intangible assets, net	$	24,564	$	28,192

The net amortized cost of identifiable intangible assets assigned to the Company’s geographic markets as follows (in thousands):



	December 31,
	2013		2012
Core deposit premiums:
Texas	$	816	$	1,192
Colorado	277		377
Arizona	—		—
Total core deposit premiums	$	1,093	$	1,569

Other identifiable intangible assets:
Oklahoma	9,199		9,857
Colorado	13,482		15,976
Kansas/Missouri	790		790
Total other identifiable intangible assets	23,471		26,623

Total intangible assets, net	$	24,564	$	28,192

Expected amortization expense for intangible assets that will continue to be amortized (in thousands):



	Core Deposit Premiums		Other Identifiable Intangible Assets		Total
2014	$	432	$	2,290	$	2,722
2015	393		2,290		2,683
2016	247		2,290		2,537
2017	21		2,059		2,080
2018	—		1,595		1,595
Thereafter	—		12,947		12,947
	$	1,093	$	23,471	$	24,564

Goodwill assigned to the Company’s geographic markets as follows (in thousands):



	December 31,
	2013		2012
Goodwill:
Oklahoma	$	10,387	$	12,607
Texas	240,122		240,122
New Mexico	15,273		15,273
Colorado	77,555		77,555
Arizona	16,422		16,422
Total goodwill	$	359,759	$	361,979

The changes in the carrying value of goodwill by operating segment for year ended December 31, 2013 is as follows (in thousands):



	Commercial			Consumer			Wealth Management		Total
Balance, December 31, 2011
Goodwill	$	266,728		$	39,251		$	29,850	$	335,829
Accumulated impairment losses	—			(228		)	—		(228		)
	266,728			39,023			29,850		335,601

Goodwill acquired during 2012	4,434			—			21,944		26,378

Balance, December 31, 2012
Goodwill	271,162			39,251			51,794		362,207
Accumulated impairment losses	—			(228		)	—		(228		)
	271,162			39,023			51,794		361,979

Goodwill adjustments during 2013	(2,220		)	—			—		(2,220		)

Balance, December 31, 2013
Goodwill	268,942			39,251			51,794		359,987
Accumulated Impairment	—			(228		)	—		(228		)
	$	268,942		$	39,023		$	51,794	$	359,759

The annual goodwill evaluations for 2013 and 2012 did not indicate impairment for any reporting unit. Economic conditions did not indicate that impairment existed for any identifiable intangible assets and therefore no impairment evaluation was performed.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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