Goodwill and Core Deposit Intangibles

12 Months Ended

Dec. 31, 2021

Goodwill and Core Deposit Intangibles [Abstract]

Goodwill and Core Deposit Intangibles

Note 8: Goodwill and Core Deposit Intangibles

The Company recorded $7.5 million of goodwill as a result of the acquisition of Watonga Bancshares, Inc. on December 9, 2021.

The gross carrying amount and accumulated amortization of recognized intangible assets at December 31, 2021 and 2020, were (dollars in thousands):

	December 31, 2021					December 31, 2020
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Core deposit intangible	$	3,315	$	(1,672	)	$	2,061	$	(1,489	)

Amortization expense for intangible assets totaled $183,000 for the year ended December 31, 2021 and $206,000 for the years ended 2020, and 2019. Estimated amortization expense for the following five years is as follows (dollars in thousands):

2022	$	305
2023		305
2024		155
2025		125
2026		125
	$	1,015