GOODWILL AND CORE DEPOSIT INTANGIBLES |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GOODWILL AND CORE DEPOSIT INTANGIBLES |
NOTE 7 – GOODWILL AND CORE DEPOSIT INTANGIBLES The assets and liabilities acquired in business combinations are recorded at their estimated fair values at the acquisition date. The excess of the purchase price over the estimated fair value of the net assets for tax free acquisitions is recorded as goodwill, none of which is deductible for tax purposes. The excess of the purchase price over the estimated fair value of the net assets for taxable acquisitions is recorded as goodwill and is deductible for tax purposes. The carrying basis of goodwill and core deposit intangibles as of and for the years ended December 31, 2018 and 2017 were as follows.
Estimated amortization expense for each of the following five years and thereafter is listed in the following table.
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