Note 7 - Goodwill and Other Intangibles

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

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7

)       

GOODWILL AND OTHER INTANGIBLES

The Company acquired goodwill of

$1.1

million in the acquisition of Peoples Bancorp, Inc. of Bullitt County and The Peoples Bank of Bullitt County (“Peoples”) during

2015

in addition to acquiring goodwill of

$5.4

million in the acquisition of Hometown Bancshares, Inc. (“Hometown”) during

2003.

Goodwill is evaluated for impairment at least annually or more frequently upon the occurrence of an event or when circumstances indicate that the carrying amount is greater than its fair value.

No

impairment of goodwill was recognized during

2018,

2017

or

2016.

The Company acquired a core deposit intangible of

$1.4

million in the acquisition of Peoples. All of the Company’s previously acquired core deposit intangibles had been fully amortized prior to

2015.

Core deposit intangible amortization expense totaled

$147,000

each year for

2018,

2017

and

2016.

Core deposit intangibles subject to amortization as of

December 31, 2018

and

2017

consisted of the following:

(In thousands)	2018		2017
Core deposit intangible acquired in Peoples acquisition	$	1,418	$	1,418
Less accumulated amortization		452		306
	$	966	$	1,112

Estimated amortization expense for the core deposit intangible for each of the ensuing

five

years and in the aggregate is as follows:

Years ending December 31:	(In thousands)
2019	$	147
2020		147
2021		147
2022		147
2023		147
2024 and thereafter		231
Total	$	966