Goodwill and Core Deposit Intangible (Tables)

3 Months Ended

Mar. 31, 2024

Goodwill and Core Deposit Intangible [Abstract]

Changes in Carrying Amounts of Goodwill and Core Deposit Intangibles

The following table presents the changes in the carrying amounts of goodwill and core deposit intangibles for the three months ended March 31, 2024:

	Goodwill		Core Deposit Intangible
	(In thousands)
Balance at the beginning of the period	$	25,858	$	2,111
Additions		–		–
Change in deferred tax estimate		–		–
Amortization		–		(84	)
Balance at the end of the period	$	25,858	$	2,027

Components of Carrying Value and Accumulated Amortization of Core Deposit Intangible

The carrying amount of the core deposit intangible consisted of the following at March 31, 2024 (in thousands):

Core deposit intangible acquired	$	3,329
Less: accumulated amortization		(1,302	)
	$	2,027

Estimated Amortization Expense for Core Deposit Intangible

The following table outlines the estimated amortization expense for the core deposit intangible during the next five fiscal years (in thousands):

Remainder of 2024	$	252
2025		315
2026		304
2027		291
2028		279
Thereafter		586
	$	2,027