Note 9 - Goodwill and Other Intangible Assets -

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

Note

9

- Goodwill and Other Intangible Assets –

Goodwill was acquired in acquisitions during the years ended

December 31, 2018

and

December 31, 2015,

respectively, as a result of business combinations. The carrying amount of goodwill as of

December 31, 2018

and

2017

was

$49.5

million and

$6.8

million, respectively. The Company performed the required annual goodwill impairment test as of

December 31, 2018.

The Company’s annual test did

not

indicate any impairment.

Core deposit intangibles were acquired in conjunction with the business combinations. A summary of the core deposit intangible asset as of

December 31, 2018

and

2017

is as follows:

	2018			2017
	(Dollars in thousands)
Gross Carrying Amount	$	2,762		$	2,762
Acquisitions		6,441			-
Less: Accumulated Amortization		(1,318	)		(759	)
Net Carrying Amount	$	7,885		$	2,003

Amortization expense on the core deposit intangible asset recorded in other expenses totaled approximately

$559,000,

$276,000

and

$276,000

during the years ended

December 31, 2018,

2017

and

2016,

respectively. The following table presents the estimated aggregate amortization expense for the periods indicated:

December 31,
	(Dollars in thousands)
2019	$	920
2020		920
2021		920
2022		920
2023		920
Thereafter		3,285
Total Core Deposit Intangible	$	7,885