SNBC » Topics » Goodwill and Intangible Assets.

These excerpts taken from the SNBC 10-K filed Mar 16, 2009.
Goodwill and Intangible Assets. Goodwill is the excess of the fair value of liabilities assumed over the fair value of tangible and identifiable intangible assets acquired in a business combination. Goodwill is not amortized but is tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired.  SFAS No. 142, Goodwill and Other Intangible Assets, outlines a two-step goodwill impairment test.  Significant judgment is applied when goodwill is assessed for impairment.  Step one, which is used to identify potential impairment, compares the fair value of the reporting unit with its carrying amount, including goodwill.  A reporting unit is an operating segment as defined in SFAS No. 131, Disclosures about Segments of an Enterprise and Related Information.  If the fair value of a reporting unit exceeds its carrying value, goodwill of the reporting unit is considered not impaired and step two is therefore unnecessary.  If the carrying amount of the reporting unit exceeds its implied fair value, the second step is performed to measure the amount of the impairment loss, if any.  An implied loss is recorded to the extent that the carrying amount of goodwill exceeds its implied fair value.  The Company believes that its goodwill was not impaired at December 31, 2008 and 2007.
 
Intangible assets consist of core deposit intangibles (accounted for in accordance with SFAS No. 72, Accounting for Certain Acquisitions of Banking or Thrift Institutions – an amendment of APB Opinion No. 17, an interpretation of APB Opinions Nos. 16 and 17, and an amendment of FASB Interpretation No. 9), net of accumulated amortization. Core deposit intangibles are amortized using the straight-line method based on the characteristics of the particular deposit type.  See Note 10 for further details on goodwill and intangible assets.
 
Goodwill
and Intangible Assets.
Goodwill is the excess of the fair value of
liabilities assumed over the fair value of tangible and identifiable intangible
assets acquired in a business combination. Goodwill is not amortized but is
tested for impairment annually or more frequently if events or changes in
circumstances indicate that the asset might be impaired.  SFAS No.
142, Goodwill
and Other Intangible Assets
, outlines a two-step goodwill impairment
test.  Significant judgment is applied when goodwill is assessed for
impairment.  Step one, which is used to identify potential impairment,
compares the fair value of the reporting unit with its carrying amount,
including goodwill.  A reporting unit is an operating segment as
defined in SFAS No. 131, Disclosures
about Segments of an Enterprise and Related Information
.  If
the fair value of a reporting unit exceeds its carrying value, goodwill of the
reporting unit is considered not impaired and step two is therefore
unnecessary.  If the carrying amount of the reporting unit exceeds its
implied fair value, the second step is performed to measure the amount of the
impairment loss, if any.  An implied loss is recorded to the extent
that the carrying amount of goodwill exceeds its implied fair
value.  The Company believes that its goodwill was not impaired at
December 31, 2008 and 2007.

 

Intangible
assets consist of core deposit intangibles (accounted for in accordance with
SFAS No. 72, Accounting
for Certain Acquisitions of Banking or Thrift Institutions – an amendment of APB
Opinion No. 17, an interpretation of APB Opinions Nos. 16 and 17, and an
amendment of FASB Interpretation No. 9
), net of accumulated amortization.
Core deposit intangibles are amortized using the straight-line method based on
the characteristics of the particular deposit type.  See Note 10 for
further details on goodwill and intangible assets.

 

These excerpts taken from the SNBC 10-K filed Mar 17, 2008.
Goodwill and Intangible Assets. Goodwill is the excess of the fair value of liabilities assumed over the fair value of tangible and identifiable intangible assets acquired in a business combination. Goodwill is not amortized but is tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. Impairment is the condition that exists when the carrying amount of goodwill exceeds its implied fair value. The Company uses a third-party appraisal to assist management in identifying impairment. The Company believes that its goodwill was not impaired at December 31, 2007 and 2006.
 
Intangible assets consist of core deposit intangibles and excess of cost over fair value of assets acquired (accounted for in accordance with SFAS No. 72, Accounting for Certain Acquisitions of Banking or Thrift Institutions – an amendment of APB Opinion No. 17, an interpretation of APB Opinions Nos. 16 and 17, and an amendment of FASB Interpretation No. 9), net of accumulated amortization. Core deposit intangibles are amortized using the straight-line method based on the characteristics of the particular deposit type.
 
Goodwill
and Intangible Assets.
Goodwill is the excess of the fair value of
liabilities assumed over the fair value of tangible and identifiable intangible
assets acquired in a business combination. Goodwill is not amortized but is
tested for impairment annually or more frequently if events or changes in
circumstances indicate that the asset might be impaired. Impairment is the
condition that exists when the carrying amount of goodwill exceeds its implied
fair value. The Company uses a third-party appraisal to assist management in
identifying impairment. The Company believes that its goodwill was not
impaired at December 31, 2007 and 2006.

 

Intangible
assets consist of core deposit intangibles and excess of cost over fair value of
assets acquired (accounted for in accordance with SFAS No. 72, Accounting
for Certain Acquisitions of Banking or Thrift Institutions – an amendment of APB
Opinion No. 17, an interpretation of APB Opinions Nos. 16 and 17, and an
amendment of FASB Interpretation No. 9
), net of accumulated amortization.
Core deposit intangibles are amortized using the straight-line method based on
the characteristics of the particular deposit type.

 

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki