XML 36 R16.htm IDEA: XBRL DOCUMENT v3.22.0.1
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
 
The following is an analysis of the core deposit intangible activity for the years ended December 31:
 
 20212020
(dollars in thousands)Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Amortizable intangible assets:    
Core deposit intangible$7,685 $2,464 $3,660 $1,389 
   Customer relationship intangible2,250 82 — — 
Total9,935 2,546 3,660 1,389 
Unamortizable intangible assets:
Goodwill$52,906 $15,992 
 
Activity related to transactions since January 1, 2019 includes the following:
 
(1)In connection with the SouthCrest, Inc. acquisition on August 1, 2021, the Company recorded $4.0 million in core deposit intangible and $35.0 million in goodwill.
(2)In connection with insurance acquisitions that occurred on August 1, 2021, September 1, 2021, and October 1, 2021, the Company recorded $2.3 million in customer deposit intangibles and $1.9 million in goodwill.
(3)In connection with the LBC Bancshares, Inc. acquisition on May 1, 2019, the Company recorded $3.1 million in a core deposit intangible and $15.7 million in goodwill. The company recorded a subsequent adjustment within the one year period allowed after the acquisition of $485,000 in 2020.
(4)In connection with the May 1, 2019 acquisition of PFB Mortgage from Planters First Bank, the Company recorded $541,000 in goodwill.

Amortization expense related to the core deposit intangible was $1.2 million and $785,000 at December 31, 2021 and 2020, respectively. The estimated future amortization expense for intangible assets remaining as of December 31, 2021 is as follows:
 
(dollars in thousands)Amount
2022$1,726 
20231,471 
20241,217 
2025962 
2026658 
Thereafter1,355 
Total$7,389