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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill is tested annually, or more often than annually, if circumstances warrant, for impairment. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated, and goodwill is written down to its implied fair value. Subsequent increases in goodwill value are not recognized in the financial statements. Goodwill totaled $1.15 billion at December 31, 2021 and $1.08 billion at December 31, 2020.
 
During 2019, the Company recorded $131.3 million and $78.5 million of goodwill as a result of its acquisitions of Landrum and Reliance, respectively. Goodwill increased $19.8 million during 2020 due to the continued assessment of the fair value and assumed tax position of the Landrum acquisition that was finalized during the third quarter of 2020. The Company recorded $39.0 million and $31.7 million of goodwill related to its acquisitions of Triumph and Landmark during 2021, respectively.

Goodwill impairment was neither indicated nor recorded in 2021, 2020 or 2019. During the first quarter of 2020, the Company’s share price began to decline as the markets in the United States responded to the global COVID-19 pandemic. As a result of that economic decline, the effect on share price and other factors, the Company performed an interim goodwill impairment assessment during each quarter of 2020 and concluded no impairment existed during each period. Due to the improved market and economic conditions during 2021, and the related effects on the Company’s share price, the Company did not perform any interim goodwill impairment assessments in addition to the annual impairment test. An interim goodwill impairment analysis will be performed by the Company if the stock price falls below the book value per share for a full quarter. During the second quarter of 2021, the Company performed an annual goodwill impairment analysis and concluded no impairment existed. While the goodwill impairment analysis indicated no impairment at December 31, 2021, the Company’s assessment depends on several assumptions which are dependent on market and economic conditions, and future changes in those conditions could impact the Company’s assessment in the future.
 
Core deposit premiums represent the value of the relationships that acquired banks had with their deposit customers and are amortized over periods ranging from 10 years to 15 years and are periodically evaluated, at least annually, as to the recoverability of their carrying value. Other intangible assets represent the value of other acquired relationships, including relationships with trust and wealth management customers, and are being amortized over various periods ranging from 10 years to 15 years.

Changes in the carrying amount and accumulated amortization of the Company’s core deposit premiums and other intangible assets at December 31, 2021 and 2020 were as follows:

(In thousands)20212020
Core deposit premiums:
Balance, beginning of year$97,363 $111,808 
Acquisitions(1)
9,295 — 
Disposition of intangible asset(2)
(674)(2,324)
Amortization(12,122)(12,121)
Balance, end of year93,862 97,363 
Books of business and other intangibles:
Balance, beginning of year13,747 15,532 
Disposition of intangible asset— (413)
Amortization(1,374)(1,372)
Balance, end of year12,373 13,747 
Total other intangible assets, net$106,235 $111,110 
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(1)    Core deposit premiums of $5.1 million and $4.2 million were recorded during 2021 as part of the Triumph and Landmark acquisitions, respectively. See Note 2, Acquisitions, for additional information on acquisitions completed in 2021.
(2)    Adjustments recorded for the premiums on certain deposit liabilities associated with the sale of banking operations.

The carrying basis and accumulated amortization of the Company’s other intangible assets at December 31, 2021 and 2020 were as follows:

(In thousands)20212020
Core deposit premiums:
Gross carrying amount$153,496 $146,355 
Accumulated amortization(59,634)(48,992)
Core deposit premiums, net93,862 97,363 
Books of business and other intangibles:
Gross carrying amount19,937 19,937 
Accumulated amortization(7,564)(6,190)
Books of business and other intangibles, net12,373 13,747 
Total other intangible assets, net$106,235 $111,110 
 
Core deposit premium amortization expense recorded for the years ended December 31, 2021, 2020 and 2019 was $12.1 million, $12.1 million and $10.7 million, respectively. Amortization expense recorded for books of business and other intangibles was $1.4 million, $1.4 million, and $1.1 million for the years ended December 31, 2021, 2020 and 2019, respectively.
 
The Company’s estimated remaining amortization expense on other intangible assets as of December 31, 2021 is as follows: 

Year(In thousands)
2022$13,894 
202313,612 
202412,709 
202510,125 
20269,652 
Thereafter46,243 
Total$106,235