Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

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Goodwill and Other Intangible Assets
3 Months Ended
Mar. 31, 2012
Goodwill and Other Intangible Assets [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS

7. Goodwill and Other Intangible Assets

 

A rollforward of goodwill by business segment for the first three-month period of 2012 was as follows:

 

    Retail & Regional &                    
    Business Commercial           Treasury/   Huntington
(dollar amounts in thousands) Banking Banking AFCRE   WGH     Other   Consolidated
Balance, beginning of period $ 286,824   $ 16,169   $ ---   $ 98,951   $ 42,324   $ 444,268
  Adjustments   ---     ---     ---     ---     ---     ---
Balance, end of period $ 286,824   $ 16,169   $ ---   $ 98,951   $ 42,324   $ 444,268

Goodwill is not amortized but is evaluated for impairment on an annual basis at October 1 of each year or whenever events or changes in circumstances indicate the carrying value may not be recoverable. No events or changes in circumstances since the October 1, 2011, annual impairment test were noted that would indicate it was more likely than not a goodwill impairment exists.

 

At March 31, 2012, December 31, 2011, and March 31, 2011, Huntington's other intangible assets consisted of the following:

      Gross           Net
      Carrying     Accumulated     Carrying
(dollar amounts in thousands)   Amount     Amortization     Value
                   
March 31, 2012                
  Core deposit intangible $ 384,210(1)   $ (272,946)   $ 111,264
  Customer relationship   104,574     (45,026)     59,548
  Other   25,164     (24,841)     323
Total other intangible assets $ 513,948   $ (342,813)   $ 171,135
                   
December 31, 2011                
  Core deposit intangible $ 376,846   $ (263,410)   $ 113,436
  Customer relationship   104,574     (43,052)     61,522
  Other   25,164     (24,820)     344
Total other intangible assets $ 506,584   $ (331,282)   $ 175,302
                   
March 31, 2011                
  Core deposit intangible $ 376,846   $ (230,339)   $ 146,507
  Customer relationship   104,574     (36,831)     67,743
  Other   25,164     (24,163)     1,001
Total other intangible assets $ 506,584   $ (291,333)   $ 215,251
                   
(1) Includes $7,364 thousand related to the FDIC-assisted acquisition of Fidelity Bank on March 30, 2012.

The estimated amortization expense of other intangible assets for the remainder of 2012 and the next five years is as follows:

  (dollar amounts     Amortization
  in thousands)     Expense
         
  2012   $ 35,778
  2013     41,994
  2014     37,136
  2015     20,832
  2016     7,475
  2017     6,851