Annual report pursuant to Section 13 and 15(d)

Other Intangible Assets

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Other Intangible Assets
 12 Months Ended
Dec. 31, 2011
Other Intangible Assets [Abstract]  
OTHER INTANGIBLE ASSETS

NOTE 7 — OTHER INTANGIBLE ASSETS

Other intangible assets were as follows:

 

                                                         
    Amortization
Period		     December 31, 2011     December 31, 2010  
    Gross
Carrying
Amount		     Accumulated
Amortization		     Net
Carrying
Amount		     Gross
Carrying
Amount		     Accumulated
Amortization		     Net
Carrying
Amount		  
          (In Thousands, Except for amortization period)  

Other Intangible Assets:

                                                        

Core Deposit Intangible

     8 years     $ 13,137     $ (13,103 )    $ 34     $ 13,137     $ (12,687 )    $ 450  

Trade Names

     20 years       970       (242 )      728       970       (194 )      776  

Client/Insured Relationships

     10 years       770       (385 )      385       770       (308 )      462  

Non-Compete Agreements

     5 years       600       (600 )      —       600       (480 )      120  

Carrier Relationships

     15 years       580       (194 )      386       580       (155 )      425  
           

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Other Intangible Assets

           $ 16,057     $ (14,524 )    $ 1,533     $ 16,057     $ (13,824 )    $ 2,233  
           

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

The weighted-average amortization period for other intangible assets is 9.0 years. The total amortization expense for other intangible assets was $700,000, $1.1 million and $1.6 million during the years ended December 31, 2011, 2010 and 2009, respectively.

Estimated future amortization expense related to other intangible assets for each of the next five years is as follows:

 

         

Year Ending

December 31,

   Amount  
    (In Thousands)  

2012

   $ 198  

2013

     164  

2014

     164  

2015

     164  

2016

     164  
   

 

 

  

Total

   $ 854  
   

 

 

  

As of December 31, 2011 and 2010, management is not aware of any circumstances that would indicate impairment of other intangible assets. There were no impairment charges related to other intangible asset recorded through earnings in 2011 or 2010.