Note 6 - Core Deposit Intangible Asset, Net

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE 6 – CORE DEPOSIT INTANGIBLE ASSET, NET

The gross carrying amount of core deposit intangible assets totaled $17.5 million as of December 31, 2020 and December 31, 2019. As of December 31, 2020, the accumulated amortization on core deposit intangible assets was $15.1 million, providing for a net carry balance of $2.4 million. As of December 31, 2019, the accumulated amortization on core deposit intangible assets was $13.7 million, providing for a net carry balance of $3.8 million.

The scheduled amortization expense on core deposit intangible assets in future periods is:

2021	$	1,086,000
2022		768,000
2023		450,000
2024		132,000