Goodwill and Other Intangible Assets
The following tables provide information on the significant components of goodwill and other acquired intangible assets as of December 31, 2025 and 2024.
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| | December 31, 2025 |
| ($ in thousands) | | Goodwill | | | | | | Core Deposit Intangible | | |
| Gross carrying amount | | $ | 63,266 | | | | | | | $ | 59,151 | | | |
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| Accumulated amortization | | — | | | | | | | (29,429) | | | |
| Net carrying amount | | $ | 63,266 | | | | | | | $ | 29,722 | | | |
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| | December 31, 2024 |
| ($ in thousands) | | Goodwill | | | | | | Core Deposit Intangible | | |
| Gross carrying amount | | $ | 63,266 | | | | | | | $ | 59,151 | | | |
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| Accumulated amortization | | — | | | | | | | (20,840) | | | |
| Net carrying amount | | $ | 63,266 | | | | | | | $ | 38,311 | | | |
The aggregate amortization expense for the core deposit intangible was $8.6 million, $9.8 million and $6.1 million for the years ended December 31, 2025, 2024 and 2023, respectively.
As of December 31, 2025, the estimated future remaining amortization for core deposit intangibles within the years ending December 31 is as follows:
| | | | | | | | |
| ($ in thousands) | | Amortization Expense |
| 2026 | | $ | 7,398 | |
| 2027 | | 6,208 | |
| 2028 | | 5,060 | |
| 2029 | | 3,980 | |
| 2030 | | 3,096 | |
| Thereafter | | 3,980 | |
| Total amortizing intangible assets | | $ | 29,722 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.