Goodwill and Other Intangibles

9 Months Ended

Sep. 30, 2021

Goodwill and Other Intangibles [Abstract]

Goodwill and Other Intangibles

Note 6 – Goodwill and Other Intangibles

The Company concluded there was no impairment of goodwill during its annual fourth quarter assessment in 2020. Following the fourth quarter evaluation, management evaluated the events and circumstances that could indicate that goodwill may be impaired and concluded that an interim test was not necessary. The Company will continue to monitor the impact of COVID-19 on the Company as well as the financial markets in evaluating the necessity of interim testing during 2021.

The following table provides information on the significant components of goodwill and other acquired intangible assets at September 30, 2021 and December 31, 2020.

September 30, 2021
									Weighted
	Gross		Accumulated				Net		Average
	Carrying		Impairment		Accumulated		Carrying		Remaining Life
(Dollars in thousands)	Amount		Charges		Amortization		Amount		(in years)
Goodwill	$	19,728	$	(1,543)	$	(667)	$	17,518		—
Other intangible assets
Amortizable
Core deposit intangible	$	3,954	$	—	$	(2,589)	$	1,365		3.5
Total other intangible assets	$	3,954	$	—	$	(2,589)	$	1,365

December 31, 2020
									Weighted
	Gross			Accumulated			Net		Average
	Carrying		Impairment			Accumulated	Carrying		Remaining Life
(Dollars in thousands)	Amount		Charges			Amortization	Amount		(in years)
Goodwill	$	19,728	$	(1,543)	$	(667)	$	17,518		—
Other intangible assets
Amortizable
Core deposit intangible	$	3,954	$	—	$	(2,235)	$	1,719		4.7
Total other intangible assets	$	3,954	$	—	$	(2,235)	$	1,719

The aggregate amortization expense was $353 thousand for the nine months ended September 30, 2021 and $407 thousand for the nine months ended September 30, 2020.

At September 30, 2021, estimated future remaining amortization for amortizing intangibles within the years ending December 31, is as follows:

(Dollars in thousands)	Amortization Expense
2021	$	108
2022		389
2023		317
2024		246
2025		174
2026		102
Thereafter		29
Total amortizing intangible assets	$	1,365