| |
. | GOODWILL AND OTHER INTANGIBLE ASSETS |
Core deposit and other intangible assets and related accumulated amortization are as follows at December 31:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Gross carrying amount | | Accumulated amortization | | Net carrying amount |
(In thousands) | | 2013 | | 2012 | | 2013 | | 2012 | | 2013 | | 2012 |
| | | | | | | | | | | | |
Core deposit intangibles | | $ | 180,290 |
| | $ | 180,290 |
| | $ | (146,557 | ) | | $ | (133,628 | ) | | $ | 33,733 |
| | $ | 46,662 |
|
Customer relationships and other intangibles | | 29,064 |
| | 29,064 |
| | (26,353 | ) | | (24,908 | ) | | 2,711 |
| | 4,156 |
|
| | $ | 209,354 |
| | $ | 209,354 |
| | $ | (172,910 | ) | | $ | (158,536 | ) | | $ | 36,444 |
| | $ | 50,818 |
|
The amount of amortization expense of core deposit and other intangible assets is separately reflected in the statement of income.
Estimated amortization expense for core deposit and other intangible assets is as follows for the five years succeeding December 31, 2013:
|
| | | | |
(In thousands) | | |
| | |
2014 | | $ | 10,924 |
|
2015 | | 9,247 |
|
2016 | | 7,888 |
|
2017 | | 6,370 |
|
2018 | | 1,556 |
|
Changes in the carrying amount of goodwill for operating segments with goodwill are as follows:
|
| | | | | | | | | | | | | | | | | | | | |
(In thousands) | | Zions Bank | | CB&T | | Amegy | | Other | | Consolidated Company |
| | | | | | | | | | |
Balance at December 31, 2011 | | $ | 19,514 |
| | $ | 379,024 |
| | $ | 615,591 |
| | $ | 1,000 |
| | $ | 1,015,129 |
|
Impairment losses | | — |
| | — |
| | — |
| | (1,000 | ) | | (1,000 | ) |
Balance at December 31, 2012 | | 19,514 |
| | 379,024 |
| | 615,591 |
| | — |
| | 1,014,129 |
|
Impairment losses | | — |
| | — |
| | — |
| | — |
| | — |
|
Balance at December 31, 2013 | | $ | 19,514 |
| | $ | 379,024 |
| | $ | 615,591 |
| | $ | — |
| | $ | 1,014,129 |
|
A Company-wide annual impairment test is conducted as of October 1 of each year and updated on a more frequent basis when events or circumstances indicate that impairment could have taken place. Results of the testing for 2013 concluded that no impairment was present in any of the operating segments. For 2012, no impairment was present, except for TCBO included in the Other segment. A comparison of fair value to carrying value determined that the entire remaining $1 million of TCBO’s goodwill should be impaired.
