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Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2019
Goodwill and Other Intangible Assets  
Goodwill and Other Intangible Assets

NOTE 7 Goodwill and Other Intangible Assets

As of December 31, 2019 and 2018, goodwill totaled $27.3 million.

The following table summarizes the carrying amounts of goodwill, by segment, as of December 31, 2019 and 2018:

 

 

 

 

 

 

 

 

 

December 31, 

 

December 31, 

(dollars in thousands)

    

2019

 

2018

Banking

 

$

20,131

 

$

20,131

Retirement and benefit services

 

 

7,198

 

 

7,198

Total goodwill

 

$

27,329

 

$

27,329

 

The gross carrying amount and accumulated amortization for each type of identifiable intangible asset are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

 

December 31, 2018

(dollars in thousands)

    

Gross
Carrying
Amount

    

Accumulated
Amortization

    

Total

    

Gross
Carrying
Amount

    

Accumulated
Amortization

    

Total

Identifiable customer intangibles

 

$

31,857

 

$

(14,287)

 

$

17,570

 

$

55,744

 

$

(34,972)

 

$

20,772

Core deposit intangible assets

 

 

4,993

 

 

(4,172)

 

 

821

 

 

7,216

 

 

(5,515)

 

 

1,701

Total intangible assets

 

$

36,850

 

$

(18,459)

 

$

18,391

 

$

62,960

 

$

(40,487)

 

$

22,473

 

At December 31, 2019, intangible assets and accumulated amortization were reduced by $26.1 million for asset retirements related to fully amortized intangibles.

Aggregate amortization expense for the years ended December 31, 2019, 2018, and 2017 was $4.1 million, $4.6 million, and $5.6 million, respectively.

Estimated aggregate amortization expense for future years is as follows:

 

 

 

 

(dollars in thousands)

 

Amount

2020

 

$

3,961

2021

 

 

3,266

2022

 

 

3,202

2023

 

 

3,202

2024

 

 

2,949

Thereafter

 

 

1,811

Total

 

$

18,391