The Company has goodwill from business combinations, intangible assets from branch acquisitions, identifiable intangible assets assigned to core deposit relationships and customer lists of First Mid Wealth Management Company and First Mid Insurance. The following table presents gross carrying value and accumulated amortization by major intangible asset class as of March 31, 2021 and December 31, 2020 (in thousands):

	March 31, 2021				December 31, 2020
	Gross Carrying Value		Accumulated Amortization		Gross Carrying Value		Accumulated Amortization
Goodwill not subject to amortization (effective 1/1/02)	$	117,708	$	3,760	$	108,752	$	3,760
Intangibles from branch acquisition		3,015		3,015		3,015		3,015
Core deposit intangibles		34,503		21,620		32,355		20,910
Other intangibles		16,779		5,555		16,389		5,222
	$	172,005	$	33,950	$	160,511	$	32,907

Goodwill of $9 million was provisionally recorded for the acquisition and merger of LINCO during the first quarter of 2021. All goodwill was assigned to the banking segment of the Company.

The following table provides a reconciliation of the purchase price paid for the acquisition of LINCO and the amount of goodwill recorded (in thousands):

Unallocated purchase price				$	14,992
Less purchase accounting adjustments:
Fair value of securities	$	264
Fair value of loans, net		(2,818	)
Fair value of other real estate owned		915
Fair value of premises and equipment		6,360
Fair value of time deposits		(2,081	)
Fair value of FHLB advances		(975	)
Core deposit intangible		2,025
Other assets		2,530
Other liabilities		(184	)
					6,036
				$	8,956

The Company has mortgage servicing rights acquired in previous acquisitions. The following table summarizes the activity pertaining to mortgage servicing rights included in intangible assets as of March 31, 2021, March 31, 2020 and December 31, 2020 (in thousands):

	March 31, 2021			March 31, 2020			December 31, 2020
Beginning Balance	$	516		$	1,444		$	1,444
Valuation reserve		210			(18	)		(273	)
Mortgage servicing rights amortized		(177	)		(126	)		(593	)
Interest only Strip		2			(4	)		(62	)
Ending Balance	$	551		$	1,296		$	516

Total amortization expense for the three months ended March 31, 2021 and 2020 was as follows (in thousands):

	Three months ended March 31,
	2021		2020
Core deposit intangibles	$	710	$	843
Customer list intangibles		333		326
Mortgage servicing rights		177		126
	$	1,220	$	1,295

Aggregate amortization expense for the current year and estimated amortization expense for each of the five succeeding years is shown in the table below (in thousands):

Aggregate amortization expense:
For period 01/01/21-3/31/21	$	1,220
Estimated amortization expense:
For period 04/01/21-12/31/21		3,888
For year ended 12/31/22		3,885
For year ended 12/31/23		3,534
For year ended 12/31/24		3,234
For year ended 12/31/25		2,891
For year ended 12/31/26		2,215

In accordance with the provisions of SFAS No. 142, “Goodwill and Other Intangible Assets,” codified within ASC 350, the Company performed testing of goodwill for impairment as of September 30, 2020 and determined that, as of that date, goodwill was not impaired. Management also concluded that the remaining amounts and amortization periods were appropriate for all intangible assets.