TCF Bank 2012 Annual Report Download - page 95

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Note 9. Goodwill and Other Intangible Assets
Goodwill and other intangible assets are summarized as follows.
At December 31,
2012 2011
(Dollars in thousands)
Weighted-
Average
Amortization
Period
(In Years)
Gross
Amount
Accumulated
Amortization
Net
Amount
Weighted-
Average
Amortization
Period
(In Years)
Gross
Amount
Accumulated
Amortization
Net
Amount
Amortizable intangible assets:
Deposit base intangibles 10 $ 3,049 $ 241 $ 2,808 – $ – $ – $ –
Customer base intangibles 11 2,730 557 2,173 11 2,730 360 2,370
Non-compete agreement 5 4,590 1,034 3,556 5 4,590 113 4,477
Tradename 2 300 163 137 2 300 13 287
Total 8 $ 10,669 $1,995 $ 8,674 7 $ 7,620 $ 486 $ 7,134
Unamortizable intangible assets:
Goodwill related to funding segment $141,245 $141,245 $141,245 $141,245
Goodwill related to lending segment 84,395 84,395 84,395 84,395
Total $225,640 $225,640 $225,640 $225,640
As a result of the acquisition of Gateway One in 2011, TCF recorded goodwill and other intangibles of $73 million and
$6.2 million, respectively. On June 1, 2012, TCF Bank assumed $778 million of deposits from Prudential Bank & Trust, FSB
(“PB&T”). Deposit base intangibles of $3 million were recorded in connection with this assumption of deposits. Amortization
expense for intangible assets is estimated to be $2 million for 2013, $1.8 million for 2014, $1.6 million for 2015, $1.4 million
for 2016 and $497 thousand for 2017. There was no impairment of goodwill or other intangible assets for the years ended
December 31, 2012, 2011, or 2010.
{ 2012 Form 10K } { 79 }