Note 9 - Goodwill and Other Intangible Assets - |
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Notes to Financial Statements | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] |
Note 9 - Goodwill and Other Intangible Assets –
Goodwill was recorded as a result of acquisitions. The carrying amount of goodwill as of December 31, 2023 and 2022 was $88.4 million and $88.5 million, respectively. In 2023, goodwill was reduced by $153,000 due to the sale of the Leesville branch. In 2022, the increase of $28.6 million in goodwill was the result of the acquisition of TCBI. The Company performed the required annual goodwill impairment test as of October 1, 2023. The Company’s annual test did indicate any impairment as of the testing date. Following the testing date, management determined no triggering event had occurred though December 31, 2023.
Core deposit and customer intangible assets were acquired in conjunction with the business combinations. A summary of the core deposit and customer intangible assets as of December 31, 2023 and 2022 is as follows:
Amortization expense on the core deposit and customer intangible assets totaled approximately $2.1 million, $2.0 million and $1.6 million during the years ended December 31, 2023, 2022 and 2021, respectively. The following table presents the estimated aggregate amortization expense for the periods indicated:
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