GOODWILL AND INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2016
GOODWILL AND INTANGIBLE ASSETS  
GOODWILL AND INTANGIBLE ASSETS

NOTE 9 — GOODWILL AND INTANGIBLE ASSETS

Goodwill

The change in carrying amount of goodwill is as follows.

 

 

 

 

 

 

 

 

 

    

2016

    

2015

 

Balance, January 1

 

$
75,953

 

$
73,450

 

Acquired goodwill

 

 
25,362

 

 
2,503

 

Balance, December 31

 

$
101,315

 

$
75,953

 

 

The Company tests goodwill for impairment on an annual basis, or more often if events or circumstances indicate there may be impairment. Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. At June 30, 2016, the Company elected to perform a quantitative assessment to determine if the fair value of the reporting unit exceeded its carrying value, including goodwill. The quantitative assessment indicated that the fair value of the reporting unit exceeded its carrying value, resulting in no impairment.  There have been no issues identified since then indicating goodwill impairment.

A discussion of goodwill acquired in 2016, 2015 and 2014 can be found at NOTE 26.

Acquired Intangible Assets

 

 

 

 

 

 

 

 

 

    

2016

    

2015

 

Core deposit intangibles

 

$
34,135

 

$
30,036

 

Other customer relationship intangibles

 

 
2,194

 

 
2,194

 

Accumulated amortization

 

 
(28,910)

 

 
(27,568)

 

Purchased intangibles, net

 

$
7,419

 

$
4,662

 

 

Aggregate amortization expense was $1,342,  $1,640, and $1,690 for 2016, 2015, and 2014.

Estimated amortization expense for each of the next five years follows:

 

 

 

 

 

2017

    

$
1,244

 

2018

 

 
1,170

 

2019

 

 
991

 

2020

 

 
896

 

2021

 

 
789

 

Thereafter

 

 
2,329