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
Sep. 30, 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 nine-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 existed.

 

At September 30, 2012, and December 31, 2011, Huntington's other intangible assets consisted of the following:

      Gross           Net
      Carrying     Accumulated     Carrying
(dollar amounts in thousands)   Amount     Amortization     Value
                   
September 30, 2012                
  Core deposit intangible $ 380,249(1)   $ (292,329)   $ 87,920
  Customer relationship   104,574     (48,973)     55,601
  Other   25,164     (24,881)     283
Total other intangible assets $ 509,987   $ (366,183)   $ 143,804
                   
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
                   
(1) Includes $3,403 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   $ 11,967
  2013     41,083
  2014     36,368
  2015     20,207
  2016     6,993
  2017     6,511