Goodwill and Other Intangibles

3 Months Ended

Mar. 31, 2018

Goodwill and Other Intangibles [Abstract]

Note 6 – Goodwill and Other Intangibles

The following table provides information on the significant components of goodwill and other acquired intangible assets at March 31, 2018 and December 31, 2017. On May 19, 2017, the Bank acquired three branches located in Arbutus, Owings Mills and Elkridge, Maryland from NWBI. The purchase of these branches resulted in core deposit intangibles of $4.0 million and goodwill of $15.0 million.


March 31, 2018
									Weighted
	Gross		Accumulated				Net		Average
	Carrying		Impairment		Accumulated		Carrying		Remaining Life
(Dollars in thousands)	Amount		Charges		Amortization		Amount		(in years)

Goodwill	$	30,922	$	(2,637)	$	(667)	$	27,618	-

Other intangible assets
Amortizable
Employment agreements	$	440	$	-	$	(440)	$	-	-
Insurance expirations		1,270		-		(1,270)		-	-
Customer relationships		795		(95)		(496)		204	4.4
Core deposit intangible		3,954		-		(330)		3,624	9.2
		6,459		(95)		(2,536)		3,828
Unamortizable
Trade name		780		-		-		780	-
Total other intangible assets	$	7,239	$	(95)	$	(2,536)	$	4,608


December 31, 2017
									Weighted
	Gross		Accumulated				Net		Average
	Carrying		Impairment		Accumulated		Carrying		Remaining Life
(Dollars in thousands)	Amount		Charges		Amortization		Amount		(in years)

Goodwill	$	30,922	$	(2,637)	$	(667)	$	27,618	-

Other intangible assets
Amortizable
Employment agreements	$	440	$	-	$	(440)	$	-	-
Insurance expirations		1,270		-		(1,270)		-	-
Customer relationships		795		(95)		(484)		216	4.6
Core deposit intangible		3,954		-		(231)		3,723	9.4
		6,459		(95)		(2,425)		3,939
Unamortizable
Trade name		780		-		-		780	-
		780		-		-		780
Total other intangible assets	$	7,239	$	(95)	$	(2,425)	$	4,719

The aggregate amortization expense was $111 thousand and $33 thousand for the three months ended March 31, 2018 and March 31, 2017, respectively.

At March 31, 2018, estimated future remaining amortization for amortizing intangibles within the years ending December 31, is as follows:


(Dollars in thousands)
2018	$	442
2019		442
2020		442
2021		439
2022		427
2023		395
Thereafter		1,240
Total amortizing intangible assets	$	3,828

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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