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Goodwill and Other Intangibles (Table)
9 Months Ended
Sep. 30, 2018
Goodwill and Other Intangibles [Abstract]  
Schedule of Components of Goodwill and Other Acquired Intangible Assets

The following table provides information on the significant components of goodwill and other acquired intangible assets at September 30, 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.











 

 

 

 

 

 

 

 

 

 

 

 

 

 

 September 30, 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)

 

 

(519)

 

 

181 

 

3.9 

Core deposit intangible

 

 

3,954 

 

 

 -

 

 

(827)

 

 

3,127 

 

8.7 



 

 

6,459 

 

 

(95)

 

 

(3,056)

 

 

3,308 

 

 

Unamortizable

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade name

 

 

780 

 

 

 -

 

 

 -

 

 

780 

 

 -

Total other intangible assets

 

$

7,239 

 

$

(95)

 

$

(3,056)

 

$

4,088 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 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 

 

 -

Total other intangible assets

 

$

7,239 

 

$

(95)

 

$

(2,425)

 

$

4,719 

 

 



Future Amortization Expense for Amortizable Other Intangible Assets

At September 30, 2018, estimated future remaining amortization for amortizing intangibles within the years ending December 31, is as follows:







 

 

 

(Dollars in thousands)

 

 

 

2018

 

$

270 

2019

 

 

652 

2020

 

 

580 

2021

 

 

505 

2022

 

 

421 

2023

 

 

317 

Thereafter

 

 

563 

Total amortizing intangible assets

 

$

3,308