5.INTANGIBLE ASSETS

The Company’s intangible assets consist of core deposits and goodwill arising from previous acquisitions.  The Company has determined that core deposit intangibles have a finite life and amortizes them over their estimated useful life.    Core deposit intangible assets are being amortized over the period of expected benefit, which ranges from 4 to 14 years, using an accelerated method.  On January 1, 2014, the Company completed the acquisition of StellarOne and acquired intangible assets of $29.6 million and recorded $237.5 million of goodwill.  See Note 2 “Acquisitions” in the “Notes to Consolidated Financial Statements” for additional information.  

In accordance with ASC 350, Intangibles-Goodwill and Other, the Company reviews the carrying value of indefinite lived intangible assets at least annually or more frequently if certain impairment indicators exist.  The Company performed its annual impairment testing in the second quarter of 2014 and determined that there was no impairment to its goodwill or intangible assets. 

Information concerning intangible assets with a finite life is presented in the following table (dollars in thousands):

Amortization expense of core deposit intangibles for the three and nine months ended September 30, 2014 totaled $2.4 million and $7.5 million, respectively, for the three and nine months ended September 30, 2013 totaled $921,000 and $2.9 million, respectively, and for the year ended December 31, 2013 was $3.8 million.  As of September 30, 2014, the estimated remaining amortization expense of core deposit intangibles is as follows (dollars in thousands):