GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2017

Goodwill And Intangible Assets Disclosure [Abstract]

9.	GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

The change in goodwill during the periods presented is as follows:

	December 31, 2017		December 31, 2016
	(In thousands)
Beginning of the year	$	208	$	—
Acquired goodwill-OLCB		19,168		—
Acquired goodwill-Insurance Agencies		209		208
Effect of Adjustments-James & Sons Insurance		636		—
Impairment	—		—
End of the year	$	20,221	$	208

The changes to goodwill for the twelve months ended December 31, 2017 are primarily due to changes in the final market value for the customer list intangible asset, the related tax effect from those adjustments related to the James & Sons acquisition in January 2016 and the acquired goodwill from the OLCB merger.

Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. If the carrying amount of a reporting unit is zero or less than zero, a qualitive analysis of whether it is more likely than not that the reporting unit goodwill is impaired will be performed. The qualitative assessment indicated that it was more likely than not that the fair value of the reporting unit exceeded its carrying value, resulting in no impairment. The Company did not have any reporting unites with a carrying amount of zero or less than zero at December 31, 2017 or 2016.

Acquired Intangible Assets

	As of December 31,
	2017				2016
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization
Amortized intangible assets:
Core deposit intangibles	$	11,184	$	9,250	$	8,952	$	8,947
Customer list intangible		2,222		162		1,400		44
Total	$	13,406	$	9,412	$	10,352	$	8,991

Aggregate amortization expense for 2017 was $422,000, for 2016 was $69,000 and for 2015 was $54,000. Estimated amortization expense for the next five years is as follows:

	Estimated
	Amortization
	Expense
2018	$	448,000
2019		448,000
2020		448,000
2021		448,000
2022		448,000

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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